M. Cecilia Wiliams

In an enforcement proceeding alleging false sales communications regarding ESG factors, the respondent Som Seif brought a motion for further disclosure and particulars.

The Capital Markets Tribunal dismissed the motion for disclosure, finding the requested correspondence with other fund managers and internal Commission documents irrelevant to the allegations.

The Tribunal also declined to order the Commission to produce a privilege log.

The motion for particulars was dismissed after the Commission undertook to clarify which specific statements Seif allegedly reviewed, edited, or provided quotes for, with the Tribunal finding the remaining allegations sufficiently particularized.