The applicant brought a motion for a partial stay of a Canadian Investment Regulatory Organization (CIRO) disciplinary panel's sanctions decision pending a review application.
The applicant sought to stay his suspension as a registered representative and executive.
Applying the RJR-MacDonald test, the Capital Markets Tribunal found that while there was a serious issue to be tried, the applicant failed to establish that he would suffer irreparable harm if the stay was refused.
The applicant's evidence of potential financial loss and loss of clients was deemed speculative and unconvincing.
The motion for a stay was dismissed.
