In Cormark Securities Inc. (Re), Crawley MacKewn Brush LLP lawyers Melissa MacKewn and Dana Carson successfully defended their client in an enforcement proceeding by the Commission relating to an index-inclusion transaction dating back to 2017.
The Capital Markets Tribunal found that the transaction was entirely lawful and that, contrary to the allegations of the OSC, the respondents brought their extensive skill and experience to bear and behaved in the manner expected of market participants and registrants. The Tribunal stated: "[h]aving found that the Commission has not proven any of its numerous allegations of misleading, dishonest or other wrongful conduct, we conclude that these allegations against the respondents were an overreach. The unfortunate consequence is that the respondents have incurred significant costs due to this proceeding, both financial and reputational, which they cannot recover."
The reasons and decision can be found here: Cormark Securities Inc. (Re), 2024 ONCMT 26