Naizam Kanji Deputy Director, Corporate Finance Branch

1. The “public interest” concept in regulatory proceedings: Application of section 127 of the Securities Act (Ontario) Naizam Kanji Deputy Director, Corporate Finance Branch

2. Introduction • How does the concept of the “public interest” apply to administrative agencies and tribunals? • Public interest role of agencies/tribunals • Public interest in operational decision-making • Public interest in adjudicative decision-making

3. Introduction • How is the “public interest” relevant to securities regulation? • Public interest role of securities regulation • Operational decisions • Statutory authority

4. Introduction • Public interest orders under section 127 of the Securities Act (Ontario) • Types of orders • Ability to make orders where no breach of statute or regulation

5. Introduction • Is there a relationship between the power to make “orders in the public interest” and the public interest role of securities commissions?

6. The public interest in securities regulation • How does the statutory mandate of securities commissions impact their view of the public interest? • Jurisprudence prior to 2000 • Post-2000 jurisprudence

7. The public interest in securities regulation • What are the key principles developed in the application of the public interest jurisdiction? • How do the principles underlying section 127 orders impact the broader public interest role of securities commissions?

8. Securities adjudication and the public interest concept in administrative law • How relevant are the principles underlying the section 127 jurisprudence to administrative tribunals generally? • What is the future of the public interest concept in securities law and what are its implications for administrative law?

9. Conclusion