Appeal or Review
The Tribunal can hear an appeal of a decision of the Superintendent of Insurance, the Superintendent of Pensions, the Director of Consumer Affairs, the Director of Mortgage Brokers, the Director of Cooperatives, the Director of Unclaimed Property, the Superintendent of Credit Unions, the Superintendent of Loan and Trust Companies, and the Financial and Consumer Services Commission. The Tribunal can review decision of the Executive Director of securities or an exchange, a self-regulatory organization, a quotation and trade reporting system, a clearing agency, an auditor oversight body, a trade repository and a derivatives trading facility under the Securities Act.
The appeal or review is conducted as a hearing de novo, meaning that the parties can present evidence, testify, bring witnesses, and present written and oral arguments at the hearing. The Tribunal’s role is to conduct a fresh analysis of all the evidence to determine whether the decision under appeal or review is correct.