53(2) of the Police Service Act, thereby
authorizing JSOT investigators to make use
of the Criminal Code warranting provisions
4. R.S.O. 1990, c.S. 5
5. The term “quasi-criminal” is used to describe
non-criminal conduct that may be penalized
in a manner that is similar to criminal conduct.
Where the OSC engages in OCJ proceedings,
its prosecutions are “quasi-criminal” as the
prosecutions are being conducted pursuant
to the OSA and not the Criminal Code.
6. Ontario Securities Act, s. 11, 12 and 13(1)-( 3)
7. In R. v. Jarvis,  S.C.J. No. 76, at
para. 59-99, the Supreme Court of Canada
considered the use of statutory compulsion
powers under the Income Tax Act, R.S.C.
1985, c. 1 (5th Supp.) and concluded that
where the “predominant purpose of a
particular inquiry is the determination of
penal liability”, a regulator (in that case the
Canada Customs and Revenue Agency)
must “relinquish the authority to use the
inspection and requirement powers”.
8. Ontario Securities Act, s. 13( 4)-( 8)
9. Criminal Code, s. 487.01
10. In general, the preconditions for such
warrants require evidence that:
• an offence has or will be committed;
• information concerning the offence
will be obtained through the use of the
technique, procedure or device;
• it is in the best interests of the administration
of justice to issue the warrant; and
• there is no provision in the Criminal Code
or in any other Parliamentary Act that
would similarly provide for a warrant,
authorization or order permitting the
technique, procedure or device to be used.
11. Criminal Code, s. 184-186. Given
heightened concerns regarding the invasion
of privacy in the case of the interception
of private communications, a judge must
also consider whether “other investigative
procedures have been tried and have
failed, other investigative procedures are
unlikely to succeed or the urgency of the
matter is such that it would be impractical
to carry out the investigation of the offence
using only other investigative techniques”
before issuing this type of warrant.
12. Criminal Code, s. 492.1
INCREASED FINANCIAL & REGULATORY REPORTING REQUIREMENTS.
Where do you go from here?
In today’s complex business environment, brokers and business leaders are under pressure
to keep up with changing requirements and increased regulatory scrutiny. Bringing the
most current knowledge, in-depth experience and strong leadership capabilities, MNP
is committed to working closely with private capital markets across Canada to help our
clients take their business to the next level.
Contact Sean Du Plessis, CPA, CA at 403.536.2161 or firstname.lastname@example.org or
contact Stephen Warden, CPA, CA, CMA at 416.515.3893 or email@example.com