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Court proceedings

OSC Commission proceedings

For documents relating to open and completed Commission proceedings, please refer to the OSC Tribunal.

Court proceedings

The Ontario Securities Commission (OSC) has the authority to lay quasi-criminal charges under section 122 of Ontario’s Securities Act against individuals or companies for alleged violations of the Act. These proceedings are prosecuted by OSC staff under Ontario’s Provincial Offences Act in the Ontario Court of Justice.

Quasi-criminal means that a jail term is a possible sanction if a defendant is convicted of a violation of Ontario's Securities Act. The court can impose:

  • a jail term of not more than five years less a day
  • a fine of not more than $5 million for each conviction
  • both of the above sanctions

For insider trading convictions, the maximum fine is the greater of either $5 million or triple the profit made or loss avoided.

Court proceedings are also held for freeze orders, and for the purposes of appointing a receiver. A receiver can be a person or company given temporary authority by the court, under section 129 of the Act, to wind up or manage the business and affairs of another person or company.

Appeals are another matter that are handled in court, as are orders under section 128 of the Act for non-compliance with Ontario securities law.

Attend a court proceeding

Court proceedings are generally open to the public, unless ordered otherwise. If you are interested in attending, please call or visit the specific Ontario court location listed in the news release.

Upcoming proceedings: Week of November 29, 2021

Date and time Proceeding information
November 26, 2021 @ 10AM

Defendants: 

Kopman, Ronald
Morris, Ira Howard

Purpose: 

TBST

Location: 

OCH, M2 Crt

Join Zoom Meeting https://ca01web.zoom.us/j/67028913432?pwd=a2RVQTFtN3dJK01MenNzQWo3N1F5UT09 
Meeting ID: 670 2891 3432 
Passcode: 010168

November 29, 2021 @ 9AM

Defendant: 

Sanders, Grant Ferdinand

Purpose: 

TBST

Location: 

Brampton, 206 Crt

Join Zoom Meeting https://ca01web.zoom.us/j/64410129387?pwd=bFZi azcvcnk0cVZTemQwQTlCYmxmZz09
Meeting ID: 644 1012 9387
Passcode: 956630

November 30, 2021 @ 9AM

Defendants: 

Dave, Ravindra
Dave, Chandramattie

Purpose: 

TBST

Location: 

Brampton, Ct #206

Join Zoom Meeting https://ca01web.zoom.us/j/64410129387?pwd=bFZi azcvcnk0cVZTemQwQTlCYmxmZz09
Meeting ID: 644 1012 9387 
Passcode: 956630

December 1, 2021 @ 9:15AM

Defendants: 

Brunet, Marc and Helene

Purpose:

Judgment on Sentence & Bail Pending Appeal Hearing

Location: 

Ottawa, Ct #10

Join Zoom Meeting https://zoom.us/join
Meeting ID: 667 6890 3245
Passcode: 787052

Or 1-855-703-8985

December 3, 2021 @10AM

Defendant:  

Katmarian, Stephen

Purpose: 

TBST

Location: 

OCH, M2 Crt

Join Zoom Meeting https://ca01web.zoom.us/j/67028913432?pwd=a2RVQTFtN3dJK01MenNzQWo3N1F5UT09
Meeting ID: 670 2891 3432
Passcode: 010168

December 3, 6-10, 13-17, 20-23, 2021 @ 10AM

Defendant:  

Ki, Sei 

Purpose: 

Trial

Location: 

OCH, Ct #128

Join Zoom Meeting https://ca01web.zoom.us/j/64261440848?pwd=c1lKaXloUWpZRWNZRStTcUJjS2h0UT09
Meeting ID: 642 6144 0848
Passcode: 069929

 

Appeals

For quasi-criminal proceedings, section 116 of Ontario’s Provincial Offences Act provides that OSC staff or a defendant can appeal a decision by the Ontario Court of Justice to the Superior Court of Justice. 

A respondent of an OSC decision may appeal to Divisional Court.

The OSC can also be involved in other forms of appeals, such as when a respondent brings forward a judicial review application to have an OSC decision reviewed by the Court.

Appeal decisions are available free of charge on the Canadian Legal Information Institute website (CanLII).

Subscribe for updates

Information about OSC court proceedings and from the Canadian Securities Administrators (CSA) is published in news releases and posted on our website. Please subscribe to receive news releases automatically.

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