Decision in brief: Ontario Securities Commission v Nayeem Alli, Enforcement Proceeding, Merits and Sanctions and Costs, June 2, 2026

In this enforcement case, the OSC alleged that Nayeem Alli did not comply with the Tribunal’s earlier order that he not be a director or officer of any company for seven years. The OSC says that, despite that order, Alli continued to be a director and officer of two companies. Alli said that he did not think the order applied to those two companies and he resigned once he received a warning from the OSC.

The Tribunal decided that Alli broke the Tribunal’s order because he continued to be a director and officer of two companies for two years after the Tribunal banned him from doing so.

The Tribunal then decided what sanctions were appropriate. It extended Alli’s director and officer ban for two years after the existing ban ends. This is shorter than the 3 years and 8 months the OSC requested. The Tribunal found that the seriousness of Alli’s misconduct justifies an additional ban that reflects the length of time he broke the order but does not justify a longer ban.

The Tribunal decided that Alli must pay an administrative penalty of $6,000. This amount reflects that he broke the order for two years by staying involved with two companies.

Finally, Alli must pay costs to the OSC of $4,200, which excludes costs not directly attributable to this case.