The appellants appealed two decisions of the Ontario Securities Commission regarding their involvement in a collapsed investment structure.
The first appeal argued that televised comments by the Commission's Chair created a reasonable apprehension of bias.
The Divisional Court dismissed this appeal, finding that the Chair was acting within his statutory authority and that the Commission's structure adequately separated investigative and adjudicative functions.
The second appeal challenged the Commission's findings on the merits, alleging breaches of procedural fairness, misapplication of rules, and errors in finding the appellants were the directing minds who misled staff.
The court dismissed the second appeal, finding the procedures fair and the factual conclusions reasonable.