David Finley

The RCMP (Crown) applied under s. 17(1) of the Securities Act for disclosure of compelled evidence obtained by the Ontario Securities Commission during an investigation.

The evidence was sought to assist the Crown in a criminal fraud proceeding against the respondent.

The Commission found that the respondents whose evidence was sought had provided written consent as required by s. 17(3).

Applying the factors from Re Black, the Commission determined it was in the public interest to authorize disclosure, as the consenting respondents waived confidentiality, and the disclosure would not prejudice the respondent's right to make full answer and defence.

The application was granted subject to strict confidentiality and use conditions.

The Royal Canadian Mounted Police (the Crown) applied under section 17(1) of the Securities Act for disclosure of compelled evidence obtained by the Ontario Securities Commission during an investigation.

The evidence was sought to assist in the criminal prosecution of the respondent for fraud.

The Commission granted the application, finding that the relevant witnesses had provided written consent to the disclosure and that authorizing disclosure to the Crown, subject to strict confidentiality and use conditions, was in the public interest and would not prejudice the respondent's right to make full answer and defence.