8211. Temporary orders

On application by Enforcement Staff, if a hearing panel is satisfied that the length of time required to conclude a hearing could be prejudicial to the public interest, the hearing panel may, without notice to the respondent, make a temporary order that suspends or restricts a Regulated Person’s rights and privileges and may impose terms and conditions that the hearing panel considers appropriate.

A temporary order that is made without notice under subsection 8211(1) expires 15 days after the date on which it is made, unless:

1. a hearing is commenced within that period to confirm or set aside the temporary order,

2. the Regulated Person consents to an extension of the temporary order, or

3. a securities regulatory authority orders otherwise.

IIROC must immediately give written notice of a temporary order under subsection 8211(1) to every person directly affected by it.