Unjust Dismissal of Bank Managers & Senior Bank Employees
Neufeld Legal P.C. can be reached by telephone at 905-616-8864 / 403-400-4092 or email Chris@NeufeldLegal.com
Canadian bank managers and senior bank employees fired from their senior banking job, allegedly for cause, should be engaging with knowledgeable legal counsel to review their legal options and pursue what we view as being legally due to them, given that simplified procedures available under the Canada Labour Code are limited to non-managers. (1) And with the very high legal threshold required of bank employers to justify firing a bank manager or senior bank employee, together with other legal issues that exist within the employment processes of Canada's major banks, fired bank managers and senior bank employees need to seriously consider their legal options given the extensive implications of their firing, from career and reputational damage to monetary loss, which all too often extends beyond the loss of termination pay and severance pay.
At Neufeld Legal, our legal team is constantly working to advance the interest of bank employees, who have all too often been improperly fired from their banking job, and have been subjected to a broken employment system within Canada's major banks, with employment related issues, of both a legal and financial nature, being a serious issue that continues to be inadequately dealt with. And yet, it is against this broken employment system that these same bank employers are firing bank employees, including managers and senior bank employees, on weak evidence and highly questionable allegations, which clearly are not meeting the high legal threshold for such actions, especially as "the court creates a higher responsibility on banks to get it right when leveling cause. Because a finding of cause in the banking industry – more than any other – is truly a career ender." (2)
And even if the bank's evidence and allegations were to meet the court's very high legal threshold, which in our professional estimation is very rarely the case, that is but one facet of the legal action that our law firm takes against Canada's major banks. For even when your former bank employer accuses you of having done unspeakable damage to the bank's reputation and the integrity of its banking relationships (which they say to almost every former bank employee that they fire allegedly for cause), their position is never as strong as they would contend, and they have not to sought to address any internal issues beyond the singular aspect of their (mis-) portrayal of the facts and circumstances of your termination, which is not only impacted by the further facts that are known by the fired bank employee, and the other internal issues emanating from the broken employment system that persists within Canada's major banks [with further issues existing for many bank managers / senior employees, including those engaged in financial services or selling securities].
The firing of bank managers and other senior bank employees, especially where the bank employer contends that the firing is for "just cause", needs to be properly dealt with, given that this is effectively a strategic move by the banks to eliminate senior bank personnel without any cost to the bank. And far too often, the banks have been enormously successful in those efforts, such that they have become even more brazen and bold in their willingness to level accusations under the guise of meeting the very high legal threshold of the court for firing their employees for "just cause." If you aren't prepared to push back, or much less, investigate the totality of your employment situation, how do you intend to ever receive what you are legally entitled to.
If your employment as a bank manager or senior bank employee has been abruptly ended, especially where the bank is alleging that you are fired for cause, you should seek out knowledgeable legal counsel, irrespective of the bank's allegations. Instead of placing your faith in the bank's self-serving reasons and limited interpretation of the law, contact our law firm to schedule a confidential initial consultation with a bank employment lawyer via email at Chris@NeufeldLegal.com or or by telephone at 905-616-8864 (for employees in Toronto and southern Ontario) or 403-400-4092 (for employees in Calgary and Alberta).
(1) The Labour Program of Employment and Social Development Canada (the "Labour Program") provides a complaint negotiation and adjudication process pursuant to the Canada Labour Code, although it is restricted to non-managers in federally regulated employment, such that the Labour Program's restrictions would exclude senior employees above the manager-level, such as bank vice-presidents and other officers [for more on the Labour Program].
(2) Ogden v. Canadian Imperial Bank of Commerce, 2014 BCSC 285 (CanLII), at para. 247.
|
Notice of Termination 33-109F1: Fired Bank & Financial Services Employees |
|
Understanding the Notice of Termination of Registered Individuals and Permitted Individuals (Form 33-109F1) for Fired Canadian Bank and Financial Services Employee providing Financial Services or Selling Securities With the heavy regulation of Canada’s securities industry, the termination of an employee from a registered firm is more than a simple matter of human resources, it is a matter of serious legal consequences that demands appropriate legal advisement and action. . . . continue reading |
|
Major Concern for Fired Bank Employees providing Financial Services or Selling Securities Cause |
|
For employees in the banking and financial services sectors terminated from their job, the path to re-establishing a career in the financial services or securities sales sectors can be fraught with significant challenges. When your employment is terminated, especially where your former employer alleges the termination was for cause, this triggers a whole series of events that you will want to get ahead of and attempt to deal with. . . . continue reading |
More Bank Employment Law for Bankers and Financial Service Employees: Fired - Fired For Cause - Layoffs - Exit / Retirement - Career Transition
IMPORTANT NOTE: This website is designed for general informational purposes. The site is not designed to answer specific questions about your individual situation or entitlement. Do not rely upon the information provided on this website as legal advice in respect of your individual situation nor use it as substitute for individual legal advice. If you want specific legal advice, you need to engage a lawyer under established legal engagement procedures that have been specifically agreed to by that lawyer.