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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 July 26, 2021

Date and time Proceeding information

July 26, 2021 @ 11AM


Litwin, Mark
Paul, Eric
Aceto, Peter

(OSC Case Name: CannTrust Holdings Inc.)

Purpose: 1st Appearance


OCH, Ct #112

Meeting ID: 640 5558 9354 –

Passcode: 537401



July 29, 2021 @ 10AM


Aziz, Syed Saad

(OSC Case Name: Yonge Street Capital Inc.)

Purpose: Plea date


OCH, Ct #M2

Join Zoom Meeting

Meeting ID: 670 2891 3432

Passcode: 010168


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)

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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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