{"id":52394,"date":"2026-08-05T19:33:36","date_gmt":"2026-08-05T23:33:36","guid":{"rendered":"https:\/\/prefblog.com\/?p=52394"},"modified":"2026-08-05T21:16:47","modified_gmt":"2026-08-06T01:16:47","slug":"august-5-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52394","title":{"rendered":"August 5, 2026"},"content":{"rendered":"

Even by the standards of the Canadian banking industry, this one is wild<\/a>:<\/p>\n

RBC\u2019s Unfair Investigation Leads to Multi-Million Dollar Wrongful Dismissal Award<\/b><\/p>\n

Introduction
\nIn Silva v. Royal Bank of Canada<\/a>, 2026 ONSC 3841, the Ontario Superior Court found that RBC had wrongfully dismissed a highly successful financial planner for cause after conducting an investigation that was neither impartial nor fair.<\/p>\n

Justice Casullo concluded that the investigation was affected by tunnel vision, confirmation bias, undisclosed conflicts and a predetermined desire to find grounds to dismiss the employee. Instead of conducting a balanced search for the truth, RBC engaged in what the court described as \u201cammunition gathering.\u201d<\/p>\n

The consequences were extraordinary. The court awarded Ravini Silva 16 months\u2019 reasonable notice, almost $1.92 million for loss of earning capacity, $150,000 in aggravated damages and a substantial punitive damages award. Royal Mutual Funds Inc. was also ordered to correct the regulatory notice that had effectively prevented Silva from returning to the financial-services industry.<\/p>\n

The decision provides a powerful warning that a workplace investigation cannot be used as a mechanism to justify a termination decision that management has already made.<\/p><\/blockquote>\n

The post (which is lengthy, but fascinating) is mirrored here<\/a>.<\/p>\n

It’s a disgrace and reminiscent of the David Berry Scandal<\/a>: banks treat employees like interchangeable pieces of shit with no agency. And if you don’t obediently do what you’re told when you’re told to do it – they will try to wreck your entire career, regardless of any consideration of ethics.<\/p>\n

Why would anybody with any choice, with any self-respect, work for a bank?<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0928 %<\/td>\n2,663.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0928 %<\/td>\n5,015.1<\/td>\n<\/tr>\n
Floater<\/td>\n5.43 %<\/td>\n5.58 %<\/td>\n37,072<\/td>\n14.53<\/td>\n3<\/td>\n-0.0928 %<\/td>\n2,890.2<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0790 %<\/td>\n3,644.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.78 %<\/td>\n4.87 %<\/td>\n58,597<\/td>\n2.62<\/td>\n5<\/td>\n-0.0790 %<\/td>\n4,352.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0790 %<\/td>\n3,395.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.62 %<\/td>\n5.56 %<\/td>\n51,489<\/td>\n6.67<\/td>\n12<\/td>\n0.4636 %<\/td>\n3,090.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.52 %<\/td>\n5.60 %<\/td>\n39,283<\/td>\n14.50<\/td>\n21<\/td>\n-0.4623 %<\/td>\n3,418.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.52 %<\/td>\n5.84 %<\/td>\n94,386<\/td>\n14.03<\/td>\n17<\/td>\n-0.0892 %<\/td>\n3,404.6<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.34 %<\/td>\n5.40 %<\/td>\n45,083<\/td>\n14.73<\/td>\n20<\/td>\n0.0449 %<\/td>\n3,366.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0892 %<\/td>\n4,157.1<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.91 %<\/td>\n4.45 %<\/td>\n82,979<\/td>\n2.38<\/td>\n31<\/td>\n-0.2676 %<\/td>\n2,663.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0892 %<\/td>\n3,480.2<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.17 %<\/td>\n4.55 %<\/td>\n54,463<\/td>\n1.97<\/td>\n14<\/td>\n0.0756 %<\/td>\n3,302.4<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-4.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n-3.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n-3.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.06
\nEvaluated at bid price : 22.29
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Prem<\/td>\n-2.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.15
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n-2.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.55
\nEvaluated at bid price : 21.81
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.90
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 20.21
\nEvaluated at bid price : 20.21
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 24.21
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.79
\nEvaluated at bid price : 23.40
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.58
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Prem<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-01-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.02
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.93
\nEvaluated at bid price : 23.20
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\n1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 24.62
\nEvaluated at bid price : 24.88
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset Disc<\/td>\n1.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 23.07
\nEvaluated at bid price : 24.40
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 23.07
\nEvaluated at bid price : 23.33
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n2.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.97
\nEvaluated at bid price : 23.42
\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n
POW.PR.H<\/td>\nPerpetual-Premium<\/td>\n6.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2034-10-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Prem<\/td>\n118,584<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n
BN.PF.M<\/td>\nFixedReset Prem<\/td>\n101,170<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2031-01-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.25
\nBid-YTW : 4.55 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Prem<\/td>\n61,900<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.95
\nBid-YTW : 3.23 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n59,168<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.86
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n27,241<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2026-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.03
\nBid-YTW : 4.08 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n22,255<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.06
\nEvaluated at bid price : 22.29
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n
There were 6 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
See TMX DataLinx: ‘Last’ != ‘Close’<\/a> and the posts linked therein for an idea of why these quotes are so horrible.<\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.52 – 22.03
\nSpot Rate : 1.5100
\nAverage : 1.0420<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n

POW.PR.D<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.29 – 23.35
\nSpot Rate : 1.0600
\nAverage : 0.6726<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 22.06
\nEvaluated at bid price : 22.29
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n

GWO.PR.P<\/td>\nInsurance Straight<\/td>\nQuote: 24.50 – 25.50
\nSpot Rate : 1.0000
\nAverage : 0.6205<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 24.21
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n

PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.60 – 22.50
\nSpot Rate : 0.9000
\nAverage : 0.5688<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n

RY.PR.S<\/td>\nFixedReset Prem<\/td>\nQuote: 26.15 – 26.97
\nSpot Rate : 0.8200
\nAverage : 0.4935<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.15
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n

GWO.PR.H<\/td>\nInsurance Straight<\/td>\nQuote: 21.81 – 22.75
\nSpot Rate : 0.9400
\nAverage : 0.6914<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-08-05
\nMaturity Price : 21.55
\nEvaluated at bid price : 21.81
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Even by the standards of the Canadian banking industry, this one is wild: RBC\u2019s Unfair Investigation Leads to Multi-Million Dollar Wrongful Dismissal Award Introduction In Silva v. Royal Bank of Canada, 2026 ONSC 3841, the …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-52394","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52394"}],"version-history":[{"count":6,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52394\/revisions"}],"predecessor-version":[{"id":52404,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52394\/revisions\/52404"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}