Order: Sukhraj v Ontario Securities Commission

FILE NO.: 2026-31

BETWEEN:

DAX SUKHRAJ
(Applicant)

- and -

ONTARIO SECURITIES COMMISSION 
(Respondent)

FILE NO.: 2026-31

Adjudicators:
James Doris (chair of the panel)
Cecilia Williams

October 22, 2026

ORDER

(Section 8 of the Securities Act, RSO 1990, c S.5)

WHEREAS on October 20, 2026, the Capital Markets Tribunal held a hearing by videoconference regarding the application dated September 15, 2026, made by Dax Sukhraj to review a decision of a Director of the Ontario Securities Commission dated September 8, 2026;

AND WHEREAS the parties requested that the legal issue of which party has the burden of proof on the application and the related standard of review (the Onus Issue) be determined prior to setting a schedule for the hearing of the application;

ON HEARING the submissions of the representatives for Sukhraj and the Ontario Securities Commission;

IT IS ORDERED THAT:

1. the Commission shall serve and file the record of the original proceeding by 4:30 p.m. on November 6, 2026;
2. the Commission shall serve and file written submissions and any other materials it intends on regarding the Onus Issue by 4:30 p.m. on November 20, 2026;
3. Sukhraj shall serve and file responding written submissions and any other materials it intends to rely on regarding the Onus Issue by 4:30 p.m. on January 5, 2027;
4. the Commission shall serve and file reply written submissions regarding the Onus Issue, if any, by 4:30 p.m. on January 15, 2027; and
5. the hearing of the Onus Issue is scheduled for January 21, 2027 at 10:00 a.m., at the Capital Markets Tribunal located at 20 Queen Street West, 17^th Floor, Toronto, Ontario, or as may be agreed to by the parties and set by the Registrar; and
6. a further case management hearing shall be scheduled following the determination of the Onus Issue.