Necessary Analysis - Unexpected Outcomes

• Author: Art Linton
• Pages: 25-39

25

NECESSARY ANALYSIS —

UNEXPECTED OUTCOMES

Art Linton

Abstract: This paper looks at Silver v Imax and Sh arma v Tim-

minco where the courts f‌irst had to decide novel legal issues

in order to resolve disputes. In each case, the ruling settled

the matter but raised new questions about the necessity or

workability of underlying legislat ion.

In response to the rapidly evolving securities industry,

the powers and discretion of regulators have expanded, and

courts have generally defer red to regulators. As a re sult, the

line between regulatory and adjudicative roles has arguably

blurred. This paper goes on to look at Fischer v IG Investment

Management Ltd where the Ontario Court of Appeal h as reset

the balance between securities reg ulators and the court s in a

way that may have new implications for other regulators in

other industries.