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About us

The Capital Markets Tribunal is established by the Securities Commission Act, 2021  as an independent division of the Ontario Securities Commission. It conducts hearings under the Ontario Securities Act  and the Commodity Futures Act  and determines all questions of fact or law in any proceeding before it under those Acts.

The Capital Markets Tribunal's vision is to:

  1. be a trusted, innovative and expert tribunal;
  2. conduct proceedings justly, expeditiously, transparently and cost-effectively; and
  3. deliver timely, clear and well-reasoned decisions. 

Most of the proceedings heard by the Tribunal are enforcement proceedings. These proceedings are brought by the Commission, the mandate of which is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk.

The Tribunal also hears proceedings brought by other parties, e.g., to review a decision of a self-regulatory organization or recognized exchange, or for relief relating to a transaction such as a take-over bid.