TORONTO, Sept. 15, 2025 /CNW/ - On September 12, 2025, the Ontario Securities Commission (OSC) filed an Application for Enforcement Proceeding regarding Purpose Investments Inc (Purpose) and Mr. Som Seif for sales communications that contained misleading statements about Environmental, Social, and Governance (ESG) factors.

The allegations relate to false and misleading sales communications made by Purpose and Mr. Seif 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. When making public sales communications, it is important that Investment Fund Managers do not make false or misleading statements when describing how they make investment decisions for the funds they manage.

A case management hearing will be held before the Capital Markets Tribunal on October 6, 2025 at 10:00am. A copy of the Application for Enforcement Proceeding is available on the Capital Markets Tribunal website.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.

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SOURCE Ontario Securities Commission