The appellants appealed a decision of the Discipline Committee of the Registered Insurance Brokers of Ontario following a guilty plea for operating in a net trust deficit position and failing to maintain proper records.
The Divisional Court dismissed the appeal, finding it was statute-barred as it was filed out of time under the Rules of Civil Procedure.
The Court also addressed the merits, concluding the Committee's decision was reasonable, the brief written reasons were sufficient, and the requirement to file audited financial statements for three years was within the Committee's jurisdiction.
