Hearing Schedule

Hearing Type:

Enforcement

Allegations:

Acting contrary to public interest

Panel:

Gordon Johnson - Chair, Karen Keilty, Douglas Seppala

Note:

On March 26, 2025, the Executive Director issued a notice of hearing. On September 17, 2025, the respondent made a disclosure application. On November 17, 2025, the Panel issued its ruling on the respondent's disclosure application. On October 14, 2025, the respondent filed an application on admissibility. The Commission held a hearing management meeting on January 14, 2026. The application is set for a half day hearing on April 10, 2026. The liability hearing is scheduled for May 29, 2026.

Hearing Type:

Enforcement

Allegations:

Fraud

Panel:

James Kershaw - Chair, Warren Funt, Douglas Seppala

Note:

On September 15, 2025, the Executive Director issued a notice of hearing. A hearing management meeting will be held on April 13, 2026 at 9:00am. The hearing will commence on July 13, 2026.

Hearing Type:

Enforcement

Allegations:

Trading without registration; Advising without registration

Panel:

James Kershaw - Chair, Karen Keilty, Jason Milne

Note:

On June 26, 2025, the Executive Director issued a notice of hearing. The Commission will hold a hearing management meeting on April 15, 2026, at 9:00am by video conference. The hearing will commence on June 8, 2026.

Hearing Type:

Enforcement

Allegations:

Trading without registration; Advising without registration

Panel:

Marion Shaw - Chair, Deborah Armour, Karen Keilty

Note:

On December 18, 2022, the executive director issued a notice of hearing. The Commission held hearing management meetings on September 12, October 6 and December 17, 2025. On February 26, 2026, the Panel issued a Ruling on some preliminary applications. The Panel will hear oral submissions on the constitutional question and statutory interpretation application commencing on May 11, 2026.

Hearing Type:

Enforcement

Allegations:

False or misleading statements; Fraud; Illegal distribution

Panel:

Gordon Johnson - Chair, Warren Funt, Noordin Nanji

Note:

On November 27, 2025, the executive director issued a notice of hearing. The Commission held a hearing management meeting on February 6, 2026 and will hold a further meeting on May 13, 2026 at 9:00am by video conference. The hearing is scheduled to commence on December 7, 2026.

Hearing Type:

Enforcement

Allegations:

Disclosure violations

Panel:

Karen Keilty - Chair, Warren Funt, Gordon Johnson

Note:

On February 18, 2026, the Executive Director issued a notice of hearing. The Commission will hold a hearing management meeting on May 28, 2026 at 9:00am by video conference. The hearing will commence on January 11, 2027.

Hearing Type:

Review

Panel:

Gordon Johnson - Chair, Judith Downes, Karen Keilty

Note:

On January 5, 2026, the Canadian Investment Regulatory Organization requested a review of a decision dated December 6, 2025. The Commission held a hearing management meeting on February 6, 2026. The parties have until May 8, 2026 to file submissions. The hearing will commence at 9:00am on June 1, 2026.

Hearing Type:

Enforcement

Allegations:

Obstruction of justice; Failed to comply with a summons or demand

Panel:

Gordon Johnson - Chair, James Kershaw, Jason Milne

Note:

On October 3, 2024, the executive director issued a notice of hearing. On October 3, 2024, Birdsall applied for various orders and on March 20, 2025 he filed an amended notice of application. Hearing concluded. On December 10, 2025, the Panel issued its Findings. The parties filed written submissions on sanction and requested an oral hearing. The Panel will hear oral submissions on sanction on September 9, 2026. On February 9, 2026, Birdsall filed an application and the Panel's ruling is due April 20, 2026. On March 3, 2026, Birdsall filed an application and the Panel's ruling is due April 28, 2026. On March 9, 2026, the panel issued its ruling on an application filed December 22, 2025. On December 22, 2025, Birdsall applied for leave to appeal to the British Columbia Court of Appeal.

Hearing Type:

Enforcement

Allegations:

Failed to comply with a summons or demand

Panel:

Deborah Armour - Chair, Gordon Johnson, Karen Keilty

Note:

On June 26, 2024, the executive director issued a notice of hearing. The Commission held a hearing management meeting on July 21, 2025. The hearing set to commence on November 25, 2024 was adjourned and on November 28, 2024, the Commission set the hearing to commence on August 11, 2025. On July 25, 2025, an application was received seeking orders to adjourn generally the liability hearing, to seal specific evidence, and to redact specific information from public records. On August 8, 2025, the hearing was adjourned and the matter set to be heard in writing. The Panel's Reasons for Ruling were issued on December 1, 2025. The Panel's decision is due June 9, 2026.

Hearing Type:

Enforcement

Allegations:

Trading without registration

Panel:

James Kershaw - Chair, Karen Keilty, Marion Shaw

Note:

On October 24, 2023, the Executive Director issued a notice of hearing. On October 25, 2024, the Commission adjourned the hearing. Hearing management meetings were held on November 8, 2024 and October 24, 2025. The panel's Reasons for Ruling - Extension of Temporary Orders was issued on March 18, 2025. The hearing will proceed in writing. On July 25, 2025, an application to adjourn was filed and a Ruling was issued on September 24, 2025. On October 28, 2024 the Executive Director entered into a settlement agreement with Tajkarim Mohamed and discontinued the proceedings against him, Lacie Holdings Limited and Space Cloud Empire Limited, formerly known as CE Star Holdings Limited.

Hearing Type:

Enforcement

Allegations:

Manipulation/Misleading trading

Panel:

Gordon Johnson - Chair, Judith Downes, Jason Milne

Note:

The hearing has concluded. The panel issued it's findings on January 19, 2026. The parties have until May 1, 2026, to file submissions on sanction. On February 27, 2026, the respondents Core Capital and A. and K. Thindal made an application under section 171 of the Securities Act.

Hearing Type:

Enforcement

Allegations:

Contravening a decision/order

Panel:

Gordon Johnson - Chair, Noordin Nanji, Douglas Seppala

Note:

Hearing concluded. On March 4, 2026, the Panel issued its findings. The parties have until May 1, 2026 to file submissions on sanction.

Hearing Type:

Enforcement

Allegations:

False or misleading statements

Panel:

Marion Shaw - Chair, Judith Downes, Warren Funt

Note:

Hearing concluded. On October 15, 2025, the Panel heard oral submissions on liability. On December 15, 2025, the Panel issued its findings. The Commission held a hearing management meeting on February 10, 2026. On April 9, 2026, the Executive Director discontinued the proceedings against Shawn Methven Dykes. The parties have until May 14, 2026 to file submissions on sanction.

Hearing Type:

Enforcement

Allegations:

Acting contrary to public interest; Illegal distribution; Misrepresentation

Panel:

Marion Shaw - Chair, Gordon Johnson, Karen Keilty

Note:

On November 17, 2023, the Executive Director issued a notice of hearing. On February 28, 2025, the Executive Director discontinued proceedings against Clayton Leigh Moore. On April 16, 2025, the Executive Director entered into a settlement agreement with the respondent NetCents Technology Inc. and discontinued the proceedings. On June 26, 2025, the Commission received an application under section 15.1 of the Act. On October 7, 2025, the Panel issued its ruling. The Commission has received money pursuant to the order under section 161(1)(g). Claims information can be found on the Enforcement page under Returning Funds to Investors.

Hearing Type:

Review

Panel:

James Kershaw - Chair, Noordin Nanji, Marion Shaw

Note:

On February 21, 2025, pursuant to s.28 of the Securities Act, the applicant requested a review of CIRO decision 2025 CIRO 05, dated January 23, 2025. On April 24, 2025, the Panel heard the parties' preliminary applications. The Panel issued its Ruling on May 16, 2025, and its Reasons for Ruling on September 12, 2025. On June 16, 2025, Hildebrandt filed a Notice of Appeal with the BC Court of Appeal. On December 9, 2026, the applicant requested a review of CIRO decision 2025 CIRO 52. On December 10, 2025, the Panel granted a temporary stay of CIRO's liability and sanction decisions and, by agreement of the parties, the stay will continue pending the determination of the hearing and review. On March 11 and 12, 2026, the Panel heard oral submissions. The Panel’s Ruling is due July 15, 2026.

Hearing Type:

Enforcement

Allegations:

Failed to comply with a summons or demand

Panel:

Gordon Johnson - Chair, Warren Funt, Jason Milne

Note:

On April 17, 2024, the Executive Director issued a notice of hearing. On June 6, 2025, the Panel heard oral submissions. The Panel issued its Findings on October 9, 2025. On November 7, 2025, Rafal applied for leave to appeal to the British Columbia Court of Appeal. On January 7, 2026, Rafal filed a notice of constitutional question. The Commission held a hearing management meeting on February 26, 2026. On March 25, 2026 Rafal filed an application The parties have until April 30, 2026 to file submissions.

Hearing Type:

Enforcement

Note:

The Commission has received money pursuant to an order under 161(1)(g). Claims information can be found on the Enforcement page under Returning Funds to Investors.

Hearing Type:

Take-over bid/issuer bid

Allegations:

Acting contrary to public interest

Panel:

Gordon Johnson - Chair, Douglas Seppala, Marion Shaw

Note:

On February 2, 2026, an application was made under section 114 of the Securities Act for certain orders. The application was amended on February 10, 2026. The panel heard the parties' application on February 6, 17 and 23, 2026. On March 6, 2026, the Panel issued its Decision, with reasons to follow. Reasons for Decision are due on July 8, 2026.

Hearing Type:

Enforcement - Reciprocal order

Allegations:

Acting contrary to public interest

Note:

The Executive Director has applied for orders under section 161(6) of the Securities Act. The respondent has until April 20, 2026, to file submissions.

Hearing Type:

Enforcement - Reciprocal order

Allegations:

Acting contrary to public interest

Note:

The executive director has applied for orders under section 161(6) of the Act.

Hearing Type:

Enforcement - Reciprocal order

Allegations:

Acting contrary to public interest

Note:

The Executive Director has applied for orders under section 161(6) of the Securities Act. The respondent has until April 20, 2026, to file submissions.

Hearing Type:

Review

Panel:

Gordon Johnson - Chair, Judith Downes, Karen Keilty

Note:

On August 12, 2024, the Canadian Investment Regulatory Organization requested a review of a decision dated July 22, 2024. The Panel's decision was issued on April 7, 2025. On May 6, 2025, Teymur Englesby and Cale Nishimura applied for leave to appeal to the British Columbia Court of Appeal.

Hearing Type:

Review

Panel:

Gordon Johnson - Chair, James Kershaw, Jason Milne

Note:

On July 26, 2024, the applicant applied under section 171 of the Securities Act for certain orders. This matter is proceeding in writing and in camera. The panel issued its Ruling and Reasons for Ruling on October 24, 2024 with respect to some of the orders sought. On December 20, 2024, the applicant filed a Notice of Application for leave to appeal and a stay of the panel's ruling with the BC Court of Appeal. On November 27, 2025, the BCCA put this matter on the inactive list.