Standard Life Assurance Co. reports that the British Columbia Supreme Court granted judgement in favour of Standard Life last Friday for the recovery of approximately $450,000 in commissions received by three former employees in the Vancouver Group Savings and Retirement office.

As a result of an internal investigation conducted by Standard Life in the fall of 2000, the insurer discovered that three employees had funnelled commissions to themselves through a broker they controlled.

Standard Life dismissed these three employees and sued them to recover the commissions paid to them. Standard Life has reimbursed clients affected by this scheme.

Standard Life says it is pleased that the trial judge found that the insurer acted appropriately in dealing with its former employees and its clients.