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Applications to set aside an arbitral tribunal's jurisdictional decision are hearings de novo where fresh evidence is admissible as of right.
This appeal concerns the admissibility of fresh evidence in an application to set aside an arbitral tribunal's jurisdictional decision under the UNCITRAL Model Law.
The Court of Appeal for Ontario affirmed the Divisional Court's ruling that such applications are hearings de novo, allowing parties to introduce evidence not previously before the arbitral tribunal, and that the "competence-competence" principle does not limit the court's fact-finding ability in this context.
The Court dismissed the appeal, upholding the Divisional Court's decision to admit the fresh evidence.
Reciprocal order issued against respondent who admitted to insider trading in British Columbia.
Staff of the Ontario Securities Commission sought a reciprocal order under subsection 127(10) of the Securities Act against the respondent, who had entered into a settlement agreement with the British Columbia Securities Commission admitting to insider trading.
The respondent argued that reciprocating the order would be punitive and contrary to the public interest.
The Commission rejected the respondent's arguments, finding that the threshold for reciprocity was met and that an order was necessary to protect Ontario investors.
A reciprocal order was issued prohibiting the respondent from trading in securities or derivatives of any issuer he is in a special relationship with, and from acting as a director or officer of a public issuer, for a three-year period.
