The Globe and Mail reports in its Monday, Dec. 8, edition that pension Blue Pier is suing Bank of Nova Scotia for $700-million, claiming the bank used confidential information to establish a competing plan after partnership talks ended. The Globe's James Bradshaw writes that James Pierlot founded Blue Pier in 2014 to target doctors and high-earning professionals who often do not use traditional pension plans. In 2019, Blue Pier sought a partnership with Scotiabank to distribute its pension product to the bank's clients. Physicians represent a significant opportunity for Canada's pension providers, as many lack formal retirement plans. Competition has intensified, with Blue Pier and Scotiabank aiming to meet this need. In February, 2020, Blue Pier and Scotiabank signed a non-disclosure agreement, allowing Blue Pier to upload its proposal to a secure data room. However, Blue Pier claims Scotiabank later ended discussions and launched its own competing multi-employer plan, the Medicus Pension Plan, in 2023. Blue Pier claims that the Medicus plan mirrors its own proposal, which was shared confidentially with Scotiabank. Scotiabank said in its own court filing that Blue Pier's claim "is wholly without merit."