Natalia Paunic

Binance Holdings Limited appealed orders from the Divisional Court and Ontario Securities Commission regarding an investigation into Binance's operations in Ontario.

The Commission had issued a summons demanding production of documents and communications relating to alleged violations of the Securities Act.

Binance challenged the summons as unconstitutionally overbroad under section 8 of the Canadian Charter of Rights and Freedoms.

The Court of Appeal allowed the appeal in part, finding that the Divisional Court erred in declining to judicially review the Charter arguments and that the summons was an unreasonable seizure because it lacked a reasonable foundation to believe the demanded documents were relevant to the investigation.

The moving party, Binance Holdings Limited, sought an order under ss. 6(2) and (3) of the Courts of Justice Act to join two appeals: one to the Divisional Court from an OSC decision and another to the Court of Appeal from a Divisional Court decision.

Binance argued the appeals were "in the same proceeding" and combining them would serve the administration of justice.

The Ontario Securities Commission opposed, arguing the appeals were distinct and combining them would cause delay and bypass appellate hierarchy.

The court granted the motion, finding the appeals were in the same proceeding due to identical parties, facts, legal issues, and legal origin (investigation order and summons).

The court also found that combining the appeals would allow for a full and final resolution of the jurisdictional issue, mitigate the risk of inconsistent findings, and secure a just, expeditious, and least expensive determination of the issues.