2 total
Appeal of OSC decision upholding IIROC sanctions for altering client documents dismissed.
The appellant appealed a decision of the Ontario Securities Commission (OSC) that dismissed a review of two decisions by the Investment Industry Regulatory Organization of Canada (IIROC).
IIROC had found the appellant liable for improperly altering client documents after they were signed, imposing a 12-month suspension, close supervision, and fines.
The Divisional Court dismissed the appeal, finding that the OSC applied the correct standard of review and made no palpable and overriding errors in upholding IIROC's findings of fact and sanctions.
Appeal of OSC decision imposing a two-year suspension for facilitating off-book investments dismissed.
The appellant, a registered representative, appealed an Ontario Securities Commission (OSC) decision that overturned an IIROC Hearing Panel's penalty decision and imposed a two-year suspension of her registration.
The appellant had recommended and facilitated off-book investments in second mortgages without her employer's knowledge or approval, and without ensuring prospectus requirements were met.
The Divisional Court dismissed the appeal, finding that the OSC's decision to intervene and impose a suspension was reasonable, justified, and within the range of acceptable outcomes.
