News & Updates
Financial Services Tribunal holding public consultation regarding rule changes
March 22, 2023
The Ontario Financial Services Tribunal is holding a 30-day public consultation, which commenced on February 27th, 2023, and concerns proposed changes to the Tribunal’s Rules of Practice and Procedure.
The consultation is about three key points:
- Revising the Tribunal’s rules to expressly address frivolous, vexatious or bad faith motions under Rule 14. Related conforming revisions are also being proposed regarding frivolous, vexatious or bad faith proceedings under Rule 33.
- Revising the Tribunal’s Rules and Electronic Hearing Practice Direction to relax the Tribunal’s approach to COVID-19-related in-person hearing protocols.
- Suspending the Tribunal’s Discretionary In-Person Hearing Practice Direction.
The Tribunal stresses that it could pivot its approach if public health circumstances change, but that these changes are needed to ensure that practice chairs have the necessary discretionary authority to determine the appropriate hearing format of their proceedings. The Tribunal further states that draft revisions will be used as a general guide in connection with all proceedings until revisions are finalized.
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