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ARTICLE · 27 APRIL 2018

OSC Whistleblower Program Explained

Crawley MacKewn Brush LLP
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On July 14, 2016 the Ontario Securities Commission launched the Office of the Whistleblower, which administers the Whistleblower Program, the first paid whistleblower program by a securities regulator in Canada.

CanadaCorporate/Commercial Law
Anna Markiewicz
Anna Markiewicz
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On July 14, 2016 the Ontario Securities Commission (the "OSC" or the "Commission") launched the Office of the Whistleblower, which administers the Whistleblower Program (the "Program"), the first paid whistleblower program by a securities regulator in Canada. The Program is intended to encourage whistleblowers to report serious securities and derivatives-related misconduct to the OSC, with the goal of increasing the OSC's effectiveness in enforcing Ontario securities laws. Individuals who meet certain eligibility criteria and who voluntarily submit information to the OSC are eligible for compensation of up to $5 million.1 The OSC has indicated that it sees the Program as an opportunity for reporting issuers and registrants to review and enhance their compliance systems and to foster an environment where internal reporting of misconduct is encouraged. It is therefore more important now than ever for companies to take proactive steps to detect and manage

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