The Globe and Mail reports in its Saturday edition that the Ontario Securities Commission has damaged its credibility by accusing Purpose Investments' founder Som Seif of greenwashing, his lawyer argued in a hearing that adjourned Friday. The Globe's Jameson Berkow writes that Joseph Groia, who is defending Mr. Seif against the OSC's claims that he misled investors about Purpose's environmental, social and governance initiatives, delivered his closing argument before a three-member adjudication panel of the OSC's Capital Markets Tribunal. The case carries the risk of multimillion-dollar fines against Purpose and career-ending sanctions against Mr. Seif. The hearing took 20 days. Mr. Groia, who has decades of high-profile securities law experience and a reputation for aggressive courtroom tactics, accused the OSC of trying to "smear" Mr. Seif "simply in order to try and ruin Mr. Seif's professional life." Mr. Groia questioned whether the case amounted to the best use of the OSC's limited enforcement resources, estimating the action to have cost the regulator at least $1-million. "The OSC really I think has lost its way in this case. ... The OSC ought to be held accountable for its conduct and the harm it has caused."