Jonathon Thomas Feasby

The applicants sought leave to appeal from convictions entered by Justice Charney on May 15, 2018, under the Provincial Offences Act.

The motion judge granted leave to appeal, finding that the applicants satisfied the high test for granting leave.

The appeal raises two main issues of public importance: the interpretative principles to be applied to determine whether an instrument is a "security" within the meaning of the Ontario Securities Act, and whether a loan agreement of the type in the present case constitutes a "security".

These issues engage broader public interests regarding the regulatory reach of the Ontario Securities Act.

The court issued an addendum to its Reasons for Sentence to clarify that the probation order and restitution order applied to both the individual and corporate respondents, Daniel Tiffin and Tiffin Financial Corporation (TFC).

The original reasons had used the pronoun "you," leading to ambiguity.

The court confirmed its intention to apply the non-custodial aspects of the sentence to both parties, exercising its jurisdiction to correct an accidental slip or omission.

Tiffin and TFC were convicted of trading in securities without registration, distributing securities without a prospectus, and trading while prohibited by an OSC order.

Tiffin solicited $700,000 in loans from clients, issuing promissory notes deemed securities.

The court considered aggravating factors, including Tiffin's position of trust, use of funds for luxury items, repeat offender status, and prior unpaid penalties, against mitigating factors such as client support letters, partial repayment, and lack of intent to defraud.

A financial penalty alone was deemed insufficient due to Tiffin's history of non-payment.

The court imposed a six-month custodial sentence on Tiffin, a two-year probation order on both Tiffin and TFC, and a restitution order for the outstanding principal amount of the notes.

The applicants sought certiorari to quash a provincial offences information alleging contraventions of s. 122(1)(c) of the Securities Act, arguing that the Ontario Court of Justice exceeded jurisdiction when it refused to quash a second information sworn without obtaining new prosecutorial consent.

The court held that the impugned ruling concerned the validity of the information and therefore fell within matters for which certiorari relief is barred where an appeal route exists under s. 141(3) of the Provincial Offences Act.

In any event, the court found the justice properly determined that the second information merely split an existing count to reflect statutory amendments and introduced no new offences.

The original consent to prosecute therefore remained valid.

The certiorari application was dismissed.