The Applicant, a mutual fund dealing representative, sought a stay of a Director's decision imposing terms and conditions on his registration pending a review.
The terms and conditions prohibited him from acting as a dealing representative for members of his church congregation, due to his role as a Lay Minister.
Applying the RJR-MacDonald test, the Commission found there was a serious issue to be tried regarding alleged Charter and human rights infringements.
However, the Applicant failed to demonstrate irreparable harm, as the alleged harm to his business was speculative and he continued to practice his livelihood.
The balance of convenience favoured maintaining the terms and conditions in the public interest to protect potentially vulnerable investors.
The motion for a stay was dismissed.
