Case information
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38245
North American Financial Group Inc., et al. v. Ontario Securities Commission
(Ontario) (Civil) (By Leave)
(Publication ban in case) (Sealing order) (Certain information not available to the public)
Docket
Judgments on applications for leave to appeal are rendered by the Court, but are not necessarily unanimous.
| Date | Proceeding | Filed By (if applicable) |
|---|---|---|
| 2020-02-26 | Close file on Leave | |
| 2020-02-26 | Certificate of taxation issued to, Michelle Vaillancourt | |
| 2020-02-26 | Decision on the bill of costs, in the amount of $1,338.50, DeRg | |
| 2020-02-26 | Submission of the bill of costs, DeRg | |
| 2019-08-15 | Bill of costs, (Letter Form), MISSING: filing fee (rec'd February 13, 2020), Completed on: 2020-02-18 | Ontario Securities Commission |
| 2019-07-11 | Correspondence (sent by the Court) to, Alexander F. Arconti. Letter from Registrar. | |
| 2019-06-27 |
Correspondence received from, (Letter Form), Alexander F. Arconti. Response to letter dated June 7, 2019. |
Alexander Flavio Arconti and Luigino Arconti |
| 2019-06-24 | Reconsideration not accepted for filing, Letter from Registrar. | |
| 2019-06-07 |
Letter acknowledging receipt of a complete motion for reconsideration, Letter from Registrar. Documents only considered on behalf of Alexander Flavio Arconti and Luigino Arconti and not on behalf of North American Financial Group Inc. and North American Capital, Inc. |
|
| 2019-05-15 | Notice of withdrawal, (Letter Form), Counsel for the applicants withdraw, on consent from the applicants., Completed on: 2019-05-15 | North American Financial Group Inc. |
| 2019-05-01 | Correspondence (sent by the Court) to, the parties. Letter from Registrar (Rule 17). | |
| 2019-04-17 | Correspondence received from, (Letter Form), the agent for the respondent. | Ontario Securities Commission |
| 2019-04-15 |
Motion for reconsideration of the application for leave to appeal, (Book Form), Also filed in support: 1) motion to adduce new evidence 2) book of authorities, Completed on: 2019-04-15 |
Alexander Flavio Arconti and Luigino Arconti |
| 2019-04-15 | Correspondence received from, (Letter Form), Alexander Flavio Arconti and Luigino Arconti | North American Financial Group Inc. |
| 2019-03-15 | Copy of formal judgment sent to Registrar of the Court of Appeal and all parties | |
| 2019-03-15 | Judgment on leave sent to the parties | |
| 2019-03-14 |
Judgment of the Court on the application for leave to appeal, The motion for an extension of time to serve and file the motion to adduce new evidence is granted. The motion to adduce new evidence is dismissed. The application for leave to appeal from the judgment of the Court of Appeal for Ontario, Number M48762, dated May 18, 2018, is dismissed with costs to the respondent and interveners. Dismissed, with costs |
|
| 2019-03-14 |
Decision on motion to extend time, See judgment on leave application. Granted |
|
| 2019-03-14 |
Decision on motion to adduce new evidence, See judgment on leave application. Dismissed |
|
| 2019-02-11 | All materials on application for leave submitted to the Judges, for consideration by the Court | |
| 2019-02-11 | Submission of motion to extend time | |
| 2019-02-11 | Submission of motion to adduce new evidence, for consideration by the Court | |
| 2018-11-05 | Reply to motion to adduce new evidence, Completed on: 2018-11-05 | North American Financial Group Inc. |
| 2018-10-29 | Response to the motion to adduce new evidence, (Letter Form), Completed on: 2018-10-29 | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-10-29 | Response to the motion to adduce new evidence, (Letter Form), Paper copy rec'd 2018/10/30, Completed on: 2018-10-30 | Ontario Securities Commission |
| 2018-10-19 | Motion to extend time, (Included in the motion to adduce new evidence), to file the affidavits, Completed on: 2018-10-19 | North American Financial Group Inc. |
| 2018-10-19 | Motion to adduce new evidence, (Book Form), 4 copies missing-rec'd 2018/10/23, Completed on: 2018-10-23 | North American Financial Group Inc. |
| 2018-10-04 | Correspondence received from, (Letter Form), Reply to the responses to the filing of the affidavits with the reply. | North American Financial Group Inc. |
| 2018-10-03 | Correspondence received from, (Letter Form), Objection to the filing of the applicants affidavits, which were included in the reply and the supplemental document. (Paper copy rec'd 2018/10/03) | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-10-03 | Certificate (on limitations to public access), (Letter Form), 23B-Reply | North American Financial Group Inc. |
| 2018-10-02 | Correspondence received from, (Letter Form), Objection to the filing of the applicants affidavits, which were included in the reply and the supplemental document. (Paper copy rec'd 2018/10/03) | Ontario Securities Commission |
| 2018-10-02 | Supplemental document, (Letter Form), Affidavit of Coulter Osborne | North American Financial Group Inc. |
| 2018-10-01 | Applicant's reply to respondent's argument, (Book Form), 23B missing-rec'd 2018/10/03, Completed on: 2018-10-03 | North American Financial Group Inc. |
| 2018-09-20 | Notice of name, (Letter Form) | Ontario Securities Commission |
| 2018-09-20 | Certificate (on limitations to public access), (Letter Form), 23B | Ontario Securities Commission |
| 2018-09-20 | Certificate (on limitations to public access), (Letter Form), 23A | Ontario Securities Commission |
| 2018-09-20 | Respondent's response on the application for leave to appeal, (Book Form), Completed on: 2018-09-24 | Ontario Securities Commission |
| 2018-09-19 | Notice of name, (Letter Form) | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-09-19 | Certificate (on limitations to public access), (Letter Form), 23B | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-09-19 | Certificate (on limitations to public access), (Letter Form), 23A | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-09-19 | Intervener's memorandum of argument on application for leave, (Book Form), Completed on: 2018-09-19 | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-09-10 | Order on motion to file a lengthy memorandum of argument, (by ROGER BILODEAU, Q.C.) | |
| 2018-09-10 |
Decision on motion to file a lengthy memorandum of argument, Reg, UPON APPLICATION by the interveners for an order granting leave to jointly file a lengthy memorandum of argument, not exceeding twenty (20) pages, in response to the application for leave to appeal; AND THE MATERIAL FILED having been read; IT IS HEREBY ORDERED THAT: The motion is granted. Granted |
|
| 2018-09-10 | Submission of motion to file a lengthy memorandum of argument, Reg | |
| 2018-08-30 | Certificate (on limitations to public access), (Letter Form), 23B-Amended certificate rec'd 2018/09/20 | North American Financial Group Inc. |
| 2018-08-24 | Motion to file a lengthy memorandum of argument, (Letter Form), Completed on: 2018-08-24, (Printed version filed on 2018-08-28) | Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers |
| 2018-08-21 | Letter acknowledging receipt of an incomplete application for leave to appeal, FILE OPENED 2018/08/21 | |
| 2018-08-17 | Certificate (on limitations to public access), (Letter Form), 23A; Amended certificate required-rec'd 2018/08/30 | North American Financial Group Inc. |
| 2018-08-17 | Notice of name, (Letter Form) | North American Financial Group Inc. |
| 2018-08-17 |
Application for leave to appeal, (Book Form), (2 volumes), Volume 2 sealed; 2 redacted copies filed 2018/09/10 23B missing-rec'd 2018/08/30, Completed on: 2018-08-30 |
North American Financial Group Inc. |
Parties
Please note that in the case of closed files, the “Status” column reflects the status of the parties at the time of the proceedings. For more information about the proceedings and about the dates when the file was open, please consult the docket of the case in question.
Main parties
| Name | Role | Status |
|---|---|---|
| North American Financial Group Inc. | Applicant | Active |
| North American Capital, Inc. | Applicant | Active |
| Alexander Flavio Arconti and Luigino Arconti | Applicant | Active |
v.
| Name | Role | Status |
|---|---|---|
| Ontario Securities Commission | Respondent | Active |
Other parties
| Name | Role | Status |
|---|---|---|
| Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers | Intervener | Active |
Counsel
Party: North American Financial Group Inc.
This party is not represented by counsel.
Party: North American Capital, Inc.
This party is not represented by counsel.
Party: Alexander Flavio Arconti and Luigino Arconti
This party is not represented by counsel.
Party: Ontario Securities Commission
Counsel
Enforcement Branch
20 Queen Street West
Toronto, Ontario
M5H 3S8
Telephone: (416) 593-3654
FAX: (416) 593-8321
Email: mvaillancourt@osc.gov.on.ca
Agent
400 - 411 Roosevelt Avenue
Ottawa, Ontario
K2A 3X9
Telephone: (613) 780-2012
FAX: (613) 688-0271
Email: cbaxter@conwaylitigation.ca
Party: Ian Ross Smith, Scott Fenton Professional Corporation and Fenton, Smith Barristers
Counsel
102 - 366 Adelaide Street West
Toronto, Ontario
M5V 1R9
Telephone: (416) 971-8000
FAX: (416) 971-8001
Email: sdewart@dgllp.ca
Agent
900 - 275 Slater Street
Ottawa, Ontario
K1P 5H9
Telephone: (613) 691-1224
FAX: (613) 691-1338
Email: mdillon@supremelawgroup.ca
Summary
Keywords
Law of Professions — Barristers and solicitors — Conflict of interest - Administrative law — Boards and tribunals — Ontario Securities Commission — Commission finding applicants committed securities fraud and sanctions imposed — Applicants discovering law firm of lawyer representing them before Commission also represented Commission in unrelated matters — After adverse judgment rendered, when is remedy available to client whose lawyer had undisclosed conflict of interest and failed to resolutely represent client’s interests? — Whether administrative decision-maker’s prior involvement in matter raises reasonable apprehension of bias?
Summary
Case summaries are prepared by the Office of the Registrar of the Supreme Court of Canada (Law Branch). Please note that summaries are not provided to the Judges of the Court. They are placed on the Court file and website for information purposes only.
In December 2013, the Ontario Securities Commission (the “Commission”) found that the applicants had committed securities fraud by misrepresenting their financial position to investors in brochures, failing to disclose material facts to investors and by using “new” investor money to pay returns to “old” investors. The Commission imposed sanctions on the applicants, including lifetime trading bans. On appeal, the applicants argued that the Commission’s finding of fraud and its penalty decision were unreasonable. They also submitted that the decisions should be set aside because the Commissioner who presided over the hearings was biased, as he had made three interim orders against them prior to the commencement of the hearing. Finally, they argued that the decisions should be set aside because the lawyer who represented them at the hearing had a conflict. His firm also represented the Commission in unrelated matters, which the applicants alleged was not disclosed to them at the time of the retainer. They further alleged that their lawyer was incompetent. They also brought a motion for leave to file fresh evidence. The Divisional Court dismissed their appeal. The Court of Appeal dismissed their application for leave to appeal.
Lower court rulings
Ontario Superior Court of Justice
DC-14-000495, 2018 ONSC 136
Applicants’ appeal dismissed
Ontario Superior Court of Justice
DC-14-000495, 2018 ONSC 1282
See file
Court of Appeal for Ontario
M48762
Applicants’ motion for leave to appeal dismissed
Filed documents
The memorandums of argument on an application for leave to appeal will be posted here 30 days after leave to appeal has been granted unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of the memorandum by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a memorandum of argument or want to use a memorandum of argument, please contact the author of the memorandum of argument directly. Their name appears at the end of the memorandum of argument. The contact information for counsel is found in the “Counsel” tab of this page.
Downloadable PDFs
Not available
Related links
The factums of the appellant, the respondent and the intervener will be posted here at least 2 weeks before the hearing unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of factums by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a factum or want permission to use a factum, please contact the author of the factum directly. Their contact information appears on the first page of each factum.
Downloadable PDFs
Not available
Related links
The condensed books of the appellant, the respondent and the intervener will be posted here upon receipt of the electronic version, 2 days prior to the scheduled appeal hearing. You may also obtain copies of condensed books by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a condensed book or want permission to use a condensed book, please contact the author of the condensed book directly. Their contact information appears on the first page of each condensed book.
Downloadable PDFs
Not available