Regulatory Alerts2025-05-19
Added · Updated
Capital Markets Tribunal Ruling – Madison Asset Management Company Limited and Madison Financial Services PLC v Securities and Exchange Commission
The Capital Markets Tribunal granted Madison Asset Management Company Limited and Madison Financial Services PLC permission to file an originating notice of motion out of time to challenge regulatory enforcement actions by the Securities and Exchange Commission. The Tribunal held that it retained jurisdiction to issue the ruling despite exceeding the thirty-day statutory deadline for delivering decisions, applying High Court procedural rules by analogy. The decision allows the applicants to proceed with their challenge regarding the SEC's directive, enforcement letter, and supervisory possession of the first applicant.
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