http://www.thelitigator.ca/index.php/2009/12/02/statements-to-securities-commission-are-protected-by-absolute-privilege/ Competition Law and Commercial Litigation Updates Wed, 28 Apr 2010 06:17:05 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.thelitigator.ca/index.php/2009/12/02/statements-to-securities-commission-are-protected-by-absolute-privilege/comment-page-1/#comment-10 The Litigator – Affleck Greene McMurtry, LLP » Blog Archive » January 2010 Commercial Litigation Update Mon, 11 Jan 2010 18:43:48 +0000 http://www.thelitigator.ca/?p=515#comment-10 [...] Statements to Securities Commission are protected by absolute privilege In his decision last Fall in Fraleigh v. RBC Dominion Securities, Ontario Superior Court Justice Newbould summarily dismissed an action brought by John Fraleigh against RBC Dominion Securities and one of its employees arising from statements and testimony given before the Ontario Securities Commission. RBC and its employee had passed on information to the OSC regarding unusual trading activity in Fraleigh’s RBC trading accounts – information that was later published in media reports. In dismissing Fraleigh’s action, Justice Newbould found that the claim arose entirely from testimony and other communications to the OSC; communications that are protected by absolute privilege.  Absolute privilege is a form of immunity for communications incidental to judicial or quasi-judicial proceedings. Long recognized as protecting people who testify in court, absolute privilege has been expanded in recent years to protect persons from being sued for testimony and other information they provide to quasi-judicial regulatory bodies in the course of an investigation or regulatory proceeding. In the past, courts have cited absolute privilege to dismiss actions brought against individuals who have given allegedly false information and testimony to bodies that regulate accountants, dentists, lawyers and other professionals. Unlike other defences to claims against the makers of false statements, absolute privilege is a complete defence in all circumstances. It applies regardless of whether the maker of a false statement acted with malice and it applies to information and testimony given to a quasi-judicial body before, during and after an actual regulatory proceeding is commenced. Additional analysis. (KD) [...] [...] Statements to Securities Commission are protected by absolute privilege In his decision last Fall in Fraleigh v. RBC Dominion Securities, Ontario Superior Court Justice Newbould summarily dismissed an action brought by John Fraleigh against RBC Dominion Securities and one of its employees arising from statements and testimony given before the Ontario Securities Commission. RBC and its employee had passed on information to the OSC regarding unusual trading activity in Fraleigh’s RBC trading accounts – information that was later published in media reports. In dismissing Fraleigh’s action, Justice Newbould found that the claim arose entirely from testimony and other communications to the OSC; communications that are protected by absolute privilege.  Absolute privilege is a form of immunity for communications incidental to judicial or quasi-judicial proceedings. Long recognized as protecting people who testify in court, absolute privilege has been expanded in recent years to protect persons from being sued for testimony and other information they provide to quasi-judicial regulatory bodies in the course of an investigation or regulatory proceeding. In the past, courts have cited absolute privilege to dismiss actions brought against individuals who have given allegedly false information and testimony to bodies that regulate accountants, dentists, lawyers and other professionals. Unlike other defences to claims against the makers of false statements, absolute privilege is a complete defence in all circumstances. It applies regardless of whether the maker of a false statement acted with malice and it applies to information and testimony given to a quasi-judicial body before, during and after an actual regulatory proceeding is commenced. Additional analysis. (KD) [...]

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