This timeline tracks procedural events. It does not track the truth or falsity of allegations, which the Tribunal has not yet decided.
Procedural Timeline
The Ontario Securities Commission commences an enforcement proceeding against Purpose Investments Inc. and Som Seif.
The Tribunal issues a Notice of Hearing under File 2025-18.
Initial procedural directions are issued for the conduct of the proceeding.
The OSC files an amended application setting out updated allegations and the orders/remedies requested.
The Tribunal releases reasons (2026 ONCMT 10) addressing Seif's disclosure motion and the particulars of the 19 communications and Seif's alleged involvement.
An adjudicator discloses a social relationship with a proposed OSC witness; the OSC seeks recusal on the basis of a reasonable apprehension of bias.
The Tribunal issues a scheduling order setting merits hearing dates and the written/oral closing timetable.
The merits hearing commences with evidence from OSC and respondent witnesses.
Witness and expert evidence continues through June.
The evidentiary phase of the merits hearing continues.
The Tribunal issues reasons (2026 ONCMT 26) concerning the recusal.
Final oral submissions begin before the Tribunal.
Final oral submissions conclude. The Tribunal reserves its decision on the merits.
As of October 2026, no merits decision has been issued. Purpose and Seif deny the allegations.
A merits decision is expected in late 2026 / early 2027 based on public reporting, but no binding deadline has been set.
If liability is found, a sanctions phase may follow; any party may appeal. No such phase exists yet.