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first_img According to the decision, Primerica alleges that FSCO breached its commitment to “consult and communicate with course providers” before making changes to curriculum or exams required to licence life insurance agents. It also seeks a declaration that FSCO acted without authority when entering certain agreements. The allegations have not been proven. However, the court ruled that the case can go ahead. The court found that, without assessing the merits of the case, what the firm is seeking is declaratory relief, which it is entitled to do. “In my view, the analysis need go no further,” the decision says. “The applicant is entitled to proceed given the nature of the relief sought and this motion is dismissed.” Declaratory relief is typically sought to clarify legal status, it does not involve awarding damages. Investor sues advisor for not taking enough risk The Ontario Superior Court of Justice court has rejected a bid by the Financial Services Commission of Ontario (FSCO) to dismiss a case brought against the regulator by Primerica Life Insurance Co. of Canada. In Primerica Life Insurance Company of Canada v Financial Service Commission of Ontario, the court rejected FSCO’s motion to dismiss an application from Primerica, which seeks declaratory relief from the court. Closet indexing class action gets the go-ahead Related news James Langton center_img Share this article and your comments with peers on social media Keywords LawsuitsCompanies Financial Services Commission of Ontario Facebook LinkedIn Twitter Court dismisses suit against BCSClast_img read more