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Tribunal

The Ontario Securities Commission (OSC) Tribunal is the administrative tribunal that is assigned the power to conduct hearings and make decisions under Ontario securities law.

Members of the OSC perform three distinct functions: adjudication, board, and policy and rule-making. As adjudicators, Members (other than the Chair & Chief Executive Officer who does not adjudicate) act independently of their other roles and preside over administrative proceedings brought before the OSC Tribunal. There may be more than one hearing in a proceeding. A hearing is heard and decided by a panel of one or more Members. Upcoming hearings are listed on the Tribunal hearing schedule.

For more information, such as assistance for self-represented parties and preparing for a hearing at the OSC Tribunal, please consult the Guide to OSC Tribunal Proceedings, Rules of Procedure and Forms and other Tribunal resources.

Tribunal leadership

Office of the Secretary

The OSC appoints the Secretary as an officer of the Commission as provided by Ontario’s Securities Act. The Secretary is responsible for the oversight and leadership of the OSC Tribunal. The Office of the Secretary provides support to Commissioners in their adjudicative function to advance the fair, impartial and efficient operation of the Commission’s adjudicative proceedings.

The Adjudication Guideline sets out the standards of conduct concerning the professional and ethical responsibilities of the Secretary to the Commission, Office of the Secretary staff, and the Members of the Ontario Securities Commission when performing an adjudicative function. Further information about the role of the Secretary to the Commission can be found in the Commission’s Charter of Governance.

Adjudicative Committee

The OSC’s Adjudicative Committee is responsible for assisting the Members in fulfilling their adjudicative duties, including the orientation and continuing education of Members, and for promoting tribunal excellence, including evaluating the Commission’s adjudicative policies, procedures and practices and recommending improvements. Further information about the Adjudicative Committee can be found in the Commission's Charter of Governance.

Accountability and stakeholder engagement

The OSC Tribunal engages with stakeholders with respect to its adjudicative policies, procedures and practices.

The Securities Proceedings Advisory Committee is the advisory committee that provides comments and advice to the Office of the Secretary on policy and procedural initiatives relating to the OSC Tribunal and best practices to ensure fairness, transparency and accessibility.

OSC Tribunal metrics

OSC Tribunal Metrics are published quarterly and annually:

Proceedings before the Commission

OSC Tribunal hearings are open to the public unless ordered otherwise. The OSC Tribunal hearing schedule provides information about the time and location of upcoming hearings. 

Documents relating to a proceeding are published on the website unless a Panel orders otherwise. Historical and current proceedings documents, such as Applications, Statements of Allegation, Notices of Hearing, Motions, Notices of Withdrawal, decisions, orders, reasons and approved settlement agreements can be found by searching for a proceeding.