On October 28, 2015, the Ontario Securities Commission (OSC)
published proposed OSC Policy 15-601 - Whistleblower
Program (Policy). The proposed Policy provides for the
adoption of a whistleblower program by the OSC with the aim to
encourage individuals to report information on securities- or
derivatives-related misconduct. The whistleblower program is
designed to further the OSC's mandate to protect investors from
unfair, improper, or fraudulent practices, and to foster fair and
efficient capital markets. If implemented, the whistleblower
program would be the first of its kind for securities regulators in
Canada.
In developing the proposed Policy, the OSC reviewed written
comments received regarding OSC Staff Consultation Paper 15-401:
Proposed Framework for an OSC Whistleblower Program, which
was released on February 3, 2015 (as discussed in our previous
client alert). In addition, the OSC considered the dialogue
about the whistleblower program that took place at
