Decision in brief: Marks v CNSX Markets Inc, Application for Review Proceeding, Motions and Merits, August 28, 2026

In this proceeding, Jack Marks asked the Tribunal to review a decision by the CNSX Markets Inc. Board. The Board had decided that Marks was not suitable to represent New World Solutions Inc., a company listed on the Canadian Securities Exchange.

In an earlier decision, the Tribunal scheduled a hearing for Marks to ask for permission to bring two motions: a motion for additional documents from CNSX and a motion allowing him to provide new evidence the Board did not have when it made its decision. In this decision, The Tribunal did not allow Marks to bring the motion for more documents. It did allow Marks and CNSX to bring motions asking to provide new evidence, but it decided not to admit any of that evidence.

Marks asked that the Board’s decision be set aside. He said that the decision was wrong, the reasons were inadequate, and the process was unfair.

The Tribunal decided that the Board’s reasons do not clearly explain why the Board found that Marks was unsuitable. The reasons also did not adequately address the fairness concerns Marks raised. Because of these deficiencies, the Tribunal decided to conduct its own assessment of Marks’ suitability.

The Tribunal found that Marks’ earlier settlement with the Securities and Exchange Commission did not, by itself, make him unsuitable. However, his promotional posts about New World and his abusive posts about the CNSX and its personnel made him unsuitable to represent a company listed on the Canadian Securities Exchange.