CIBC Wood Gundy advisor's firm email prompts $9.1M account freeze

After the couple separated in June 2023, Anshan moved management of the accounts to another senior CIBC advisor. Joseph then filed a family law claim on March 28, 2024, asserting the accounts were family property, and obtained a restraining order — the Krentz Order — that specifically named them. 

Things escalated in September 2024 when Anshan and Nancy co-signed a direction to transfer the accounts into Anshan's sole name. The court later found this move by Nancy contravened the Krentz Order. On October 3, 2024, Joseph emailed the assistant branch manager at his CIBC branch from his work account, copying Hans, and asked her to pay "special attention" to accounts subject to the order. CIBC froze the accounts shortly after. 

Justice Kirchner did not mince words about the email. Joseph, the court noted, "appears to have been using his position and possibly his influence within CIBC to advance his personal interests in the family claim." The suggestion that he may have accessed account information through his role at CIBC was called "neither speculative nor far-fetched." Hans's silence on why he was copied on the email was described as "concerning." Yet despite those pointed observations, every civil claim was either struck or dismissed. The court confirmed that an advisor-client relationship does not automatically create a fiduciary duty — it only arises when a client reposes trust and confidence in the broker and relies on the broker's advice in making business decisions. Anshan's conspiracy and breach of contract claims cleared the strike application but were dismissed on summary trial. The court determined it was Nancy's breach of the restraining order, not any alleged conspiracy, that triggered the account freeze. CIBC's decision to freeze the accounts was found to be reasonable. 

All three CIBC entities were removed from the proceeding. Costs were awarded to Hans, Joseph in his capacity as a CIBC employee, and CIBC, with Nancy and Anshan jointly and severally liable, payable in any event of the cause.