OSC receives 200 tips in first two years of whistleblower program


TORONTO — The Ontario Securities Commission says its two-year-old whistleblower program has generated about 200 tips from the public.

The regulator says so far 19 of the tips were found to warrant further action, of which 15 are associated with active investigations.

The OSC says 45 tips are still under review, while 68 tips are in the process of being shared with other operating branches of the commission or another regulator for further action.

The whistleblower program accepts tips on possible violations of Ontario securities law, offers protections for individuals who come forward, as well as compensation of up to $5 million for tips that lead to enforcement action.

The OSC says the program is still in its infancy, as investigations are complex and can take several years to complete.

Quebec’s Autorite des marches financiers also launched a whistleblower program in 2016.

The Canadian Press


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