Notice: Capital Markets Tribunal Announces Amendments to its Rules of Procedure

TORONTO – On March 19, 2024, the Capital Markets Tribunal implemented substantial amendments to its Rules of Procedure (Rules). The former Rules of Procedure and Forms and Practice Guideline are repealed in their entirety and replaced by the new Rules, which are effective immediately. The Rules apply to all Tribunal proceedings, including proceedings commenced prior to the issuance of this Notice.

The elimination of the Practice Guideline, and the incorporation of most of its elements into the new Rules, provides a single source for parties to proceedings before the Tribunal. In addition, the amendments to the Rules improve readability, clarify requirements, and will improve the efficiency of Tribunal proceedings.

Notable amendments to the Rules include:

• changing the email address for the Registrar to registrar@capitalmarketstribunal.ca, to better reflect the Tribunal’s independence from the Ontario Securities Commission;
• clarifying service requirements where the Commission as party (previously referred to as “Staff of the Commission”) has no representative of record (r 5(1));
• adopting new modern filing practices (r 6, 14(4), 21 and Appendices K-M);
• clarifying requirements with respect to the commencement of proceedings, title of proceedings and scheduling of hearings, including providing the Tribunal and its Registrars with the ability to refuse to process incomplete or defective documents related to the commencement of a proceeding (r 13);
• providing requirements for enforcement proceedings to which new ss.127(4.0.1), 127(4.0.2) or 127(4.0.3) applies (r 14(3));
• clarifying the manner in which requests for temporary orders and extensions of temporary orders are brought before the Tribunal (r 16);
• streamlining how evidence and documents are dealt with during Tribunal proceedings 
  (r 29 and 31); and
• providing for the dismissal of applications and/or motions without a hearing under appropriate circumstances (r 36).

The new Rules are available at capitalmarketstribunal.ca/resources.

Registrar, Governance & Tribunal Secretariat
Ontario Securities Commission

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