The Ontario Securities Commission has filed an application to commence an enforcement proceeding against Purpose Investments Inc and Mr. Som Seif, alleging that sales communications contained misleading statements about Environmental, Social, and Governance factors. The allegations relate to sales communications made between September 2019 and March 2023 about the extent to which ESG factors were taken into account in the investment decision-making process for investment funds managed by Purpose. A case management hearing before the Capital Markets Tribunal is scheduled for October 6, 2025 at 10:00am.
Ontario Securities Commission 2025-09-15
Ontario Securities Commission files enforcement application against Purpose Investments and Som Seif over allegedly misleading ESG sales communications
The Ontario Securities Commission has initiated an enforcement proceeding against Purpose Investments Inc and Som Seif, alleging misleading statements in sales communications regarding Environmental, Social, and Governance (ESG) factors. The allegations concern communications made between September 2019 and March 2023 about ESG considerations in investment decision-making. A case management hearing is set for October 6, 2025, before the Capital Markets Tribunal.