The appellants appealed an Ontario Securities Commission (OSC) order finding they violated securities law by operating an RRSP/loan scheme without registration or a prospectus.
The appellants argued the OSC erred in refusing an adjournment, sought to introduce fresh evidence, and challenged the OSC's findings.
The Divisional Court dismissed the appeal, holding that the refusal of the adjournment was justified, the fresh evidence did not meet the test for admission, and the OSC's findings of unregistered trading and public interest violations were reasonable.
