Compelled testimony admissible: OSC

first_img Keywords EnforcementCompanies Ontario Securities Commission Mouth mechanic turned market manipulator James Langton A hearing on the motion was held behind closed doors back in September. And, around the same time, the commission settled with one of the most prominent respondents in the case, Goldcorp Inc. chairman, Ian Telfer. (See Investment Executive, Goldcorp chairman settles with OSC, September 20, 2013.) In October, the panel issued an oral ruling on the motion, indicating that excerpts from transcripts of compelled examinations are admissible into evidence in the context of regulatory proceedings. However, it agreed with the respondents in the case, who argued that the best evidence would be direct testimony at the hearing; so, it said that transcripts can be submitted at the end of the hearing for respondents that haven’t chosen to testify. On a cross-motion for confidentiality, the panel also found that all materials and transcripts should remain confidential, but that the panel’s decision should be public. In its reasons, the panel finds that the Securities Act permits OSC staff to produce compelled testimony at a hearing. “We agree that if the legislature had intended to prohibit the use of compelled testimony in section 127 proceedings it would have done so expressly,” it says, adding that the legislature’s silence on that issue “can be taken as deliberate”. “To find otherwise would also prohibit the use of documentary evidence compelled by staff pursuant to section 13 of the Act, which cannot have been the legislative intention given the context of the scheme of the Act in respect of investigations and enforcement,” it notes. It also says that transcripts of the compelled testimony are relevant hearsay and are therefore admissible under procedural rules. “The Act does not make the compelled testimony inadmissible in an administrative hearing and the Act does not expressly limit the extent to or purposes for which the compelled testimony may admitted or used in evidence at an administrative hearing under the Act,” it notes. “Further, we were not satisfied that the other statutes cited by the respondents make the compelled testimony inadmissible in an administrative hearing under the Act or expressly limit the extent to or purposes for which the compelled testimony may be admitted or used in evidence at an administrative hearing under the Act.” The panel acknowledges that it is “mindful of the dangers of hearsay evidence” and notes that the weight this evidence will receive in a hearing will be determined by the panel. In ruling that the testimony should not be entered into evidence until the conclusion of the case, the panel says, “This provides the respondents with an opportunity to consider the evidence tendered by staff before determining whether they will undertake to testify at the merits hearing while also attempting to avoid any unfairness that could result from staff splitting its case.” The Ontario Securities Commission (OSC) today issued its reasons for a decision made earlier this year, where it ruled that compelled testimony and hearsay evidence is admissible in an enforcement hearing. The OSC published its reasons on a motion brought by OSC staff seeking an order to admit excerpts from transcripts of compelled examinations into evidence in its case alleging insider trading and tipping against various industry figures. The allegations have not been proven. Share this article and your comments with peers on social media Related news Facebook LinkedIn Twitter PwC alleges deleted emails, unusual transactions in Bridging Finance case BFI investors plead for firm’s salelast_img read more

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China’s Vice Premier to Visit Jamaica

first_imgRelatedChina’s Vice Premier to Visit Jamaica KINGSTON — The Jamaica/China Relationship is set to experience another boost with the upcoming Official Visit of the Vice Premier of the People’s Republic of China, His Excellency Hui Liangyu to Jamaica, from Sunday September 18 to Wednesday September 21. While here, the Vice Premier will meet with the Governor General, the Prime Minister and other members of the Cabinet and other senior Government officials. It is also expected that two separate agreements for grants valued jointly at RMB 21 Million, as well as an MoU on agricultural cooperation will be signed during the visit. Generally, it is expected that this visit will further enhance the friendly partnership for common development between China and Jamaica. Vibrant relationship This is the first Official High Level visit to Jamaica, since the visit of China’s Vice President, His Excellency Xi Jinping from February 11-14, 2009. Also, in March 2008 a team of Chinese officials visited Jamaica on the invitation of the Ministry of Water and Housing, and in January 2008, Jamaica hosted officials from China’s Ministry of Commerce, and in September 2007 the country hosted China’s Vice Premier. On the Jamaican side, several Official Delegations have visited China in the last four years. The most important of which was the one headed by Prime Minister Bruce Golding in February, 2010. This was Mr. Golding’s first Official visit to China. It was also just this week Monday, (September 12) that Prime Minister Golding met with Vice Premier, His Excellency Wang Qishan, who led a large delegation to the third China-Caribbean Economic and Trade Cooperation Forum in Trinidad & Tobago.(China has several Vice Premiers.) Having established diplomatic relations in November 1972, both countries have a vibrant bilateral relationship with an existing strong technical cooperation programme on, but not exclusive to: infrastructural upgrade; agriculture; education; tourism and sports. Importantly also, discussions have already begun between both countries on an Air Services Agreement. [Click here to download media accreditation form] Contact: Ann-Margaret Lim, 564-4241 September 14, 2011 China’s Vice Premier to Visit Jamaica Foreign AffairsSeptember 15, 2011 RelatedChina’s Vice Premier to Visit Jamaica FacebookTwitterWhatsAppEmail Ministry of Foreign Affairs & Foreign Trade Press Release  Public Relations and Media Affairs Unit, 21 Dominica Drive Kingston 5, Jamaica W. I. Tel:  (876)926-4220; Fax: (876)929-6733; e-mail: [email protected] RelatedChina’s Vice Premier to Visit Jamaica Advertisementslast_img read more

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Rep Allor Federal government must pay to secure safe drinking water for

first_img Categories: Allor News State Rep. Sue Allor of Wolverine today demanded the federal government immediately pay for costs associated with the water safety problem affecting families who live near the former Wurtsmith Air Force Base in Oscoda.“The federal government caused this problem by using toxic chemicals at Wurtsmith, so they must take responsibility and help our families get access to clean drinking water now,” Allor said. “It’s been almost two years since the contamination was discovered, and it’s appalling the federal government has not shown any urgency in providing relief to the dozens of families who are affected.”In December 2015, the U.S. Air Force and Michigan Department of Environmental Quality discovered perfluorinated compounds (PFCs) in drinking water wells near the former Wurtsmith Air Force Base. PFCs are chemicals in fire-fighting foams the Air Force used on the base.According to the Michigan Department of Health and Human Services, possible effects in children include changes in growth, learning and behavior. Health effects in adults may include interference with the body’s hormone system, increased cholesterol, and effects on the immune system.“As a former nurse, I feel strongly that no one should be drinking water contaminated with PFCs because so much is unknown about the long-term health effects of prolonged exposure to low levels of the contaminant,” Allor said. “The federal government must pay to help the families with tainted wells connect to a safe water source.”Allor also called on the Air Force to provide veterans previously stationed at Wurtsmith with documentation that will allow them to receive treatment for related health issues at Veterans Affairs medical centers.“Service members stationed at Wurtsmith, as well as their families, were likely exposed to contaminated water,” Allor said. “We owe it to them to ensure they receive proper care for any health issues they’re facing that could be connected to their time in the service.”Allor commended state Sen. Jim Stamas for the action he has taken to address the situation, including advocating for $1 million in the state budget to provide filters and other assistance for affected homes. Sen. Stamas also sponsored a bill, passed by the Legislature in December, which holds the federal government accountable.“The legislation Sen. Stamas took the lead on last year makes it clear that any state or federal agency, which is the Air Force in this case, should be responsible for finding a long-term solution, such as connecting people affected by the drinking water advisory to a municipal water source,” Allor said. “It’s a shame the federal government is ignoring the law and refusing to make this right.”### 19May Rep. Allor: Federal government must pay to secure safe drinking water for Oscoda familieslast_img read more

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