The moving party, a crypto asset trading platform, sought a stay of an Investigation Order and Summons issued by the Ontario Securities Commission pending judicial review.
The moving party argued the summons was overbroad, an abuse of process, and violated section 8 of the Charter.
The Divisional Court dismissed the motion, applying the RJR-MacDonald test.
The court found no serious issue to be tried, noting the reduced expectation of privacy in regulated business records, and concluded the moving party failed to establish irreparable harm or that the balance of convenience favoured a stay.