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Provinces differ on paying whistleblowers

Thursday, August 11, 2016 @ 8:00 PM | By Luis Millan

Canada’s two leading financial watchdogs recently launched back-to-back whistleblowing programs that take a significantly different approach to incite individuals to disclose wrongdoings, prompting mixed reactions from legal observers.

The Ontario Securities Commission (OSC) became the first securities regulator in the country to offer monetary rewards, up to $5 million, to individuals who come forward with information that leads to enforcement action.

The Quebec financial watchdog has taken a different tack. The Autorité des marchés financiers (AMF) has decided against offering financial incentives to attract tips after...