Ruling on costs is unprecedented and unfair

THE recent decision by the High Court in connection with the collapse of the stockbroker W&R Morrogh is very disturbing.

Apart from corporate activities, a stockbrokers' clients fall into two basic categories discretionary and non-discretionary.

The former hand over responsibility for the handling of their portfolios to the broker who puts the stock in his or her nominee name and deals on the market to the best advantage of the clients.