Jamie Morton, after 18 years at RBC, was terminated for cause due to conducting transactions that contravened RBC’s policies, resulting in over $98,000 in unauthorized compensation.
Morton’s employment termination was upheld by an Adjudicator and subsequently by the Federal Court on judicial review.
Key Points:
Morton, an Investment Retirement Planner at RBC, manipulated client transaction processes, bypassing automated systems to claim undue commissions.
Audits revealed unauthorized compensation through manipulated transactions. Morton acknowledged the overpayments but blamed RBC for delayed detection.
RBC's Conduct Code and Compensation Guide explicitly prohibited such actions, requiring honesty, integrity, and adherence to policies, which Morton violated.
The Adjudicator found no mitigating factors, concluding Morton’s actions fundamentally breached the trust essential to her employment, justifying immediate termination.
Outcome:
The Federal Court dismissed Morton’s application for judicial review, finding the Adjudicator’s decision reasonable and aligned with legal standards.
Costs were awarded to RBC, with the court emphasizing the severity and fundamental nature of Morton's misconduct. No specific amount provided.
