Regulatory Alerts2025-05-19
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Capital Markets Tribunal – Madison Asset Management Company – RULING
The Capital Markets Tribunal ruled that the High Court practice and procedure for raising preliminary issues on a point of law applies to the Tribunal under Rule 3(2) of the Securities (Capital Markets Tribunal) Rules. The Registrar determined that the motion filed by Madison Asset Management Company Limited and Madison Financial Services PLC was properly before the Tribunal, allowing for the determination of legal questions regarding the Securities and Exchange Commission's legal capacity to act as an advocate. This decision validates the procedural mechanism used to challenge the Respondents' filings and establishes that such preliminary objections are permissible in interlocutory applications before the Tribunal.
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