The applicant applied to the Capital Markets Tribunal for authorization under s. 17 of the Securities Act to disclose information from a compelled examination in a U.S. court proceeding.
The respondent argued that the Ontario Superior Court of Justice, which had recognized a letter of request from the U.S. court, had exclusive jurisdiction over the matter.
The Tribunal determined as a preliminary issue that its statutory jurisdiction to grant a s. 17 order was not displaced by the Ontario Court's order, as the requested relief sought to remove a legal impediment under Ontario law rather than interfere with the court's order.
