Mixed reaction to whistleblower initiative at OSC
Thursday, August 11, 2016 @ 8:00 PM | By Jeff Buckstein
The Ontario Securities Commission (OSC) has made history, launching the first paid whistleblower program by a Canadian securities regulator.
The province’s new Office of the Whistleblower will offer compensation of up to $5 million for tips that lead to enforcement action against breaches of Ontario’s securities law, including illegal insider trading, market manipulation and accounting and disclosure violations. Up to $1.5 million could be awarded in instances where sanctions are imposed, but the OSC is unable to collect.
“It’s really time to change the stigma of...
The province’s new Office of the Whistleblower will offer compensation of up to $5 million for tips that lead to enforcement action against breaches of Ontario’s securities law, including illegal insider trading, market manipulation and accounting and disclosure violations. Up to $1.5 million could be awarded in instances where sanctions are imposed, but the OSC is unable to collect.
“It’s really time to change the stigma of...
