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ARTICLE · 17 MAY 2016

Ontario Whistleblowers: OSC Soon Open For Business

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The new whistleblower office of the Ontario Securities Commission (OSC) is set to open this summer.

CanadaEmployment and HR
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The new whistleblower office of the Ontario Securities Commission (OSC) is set to open this summer. As reported in prior bulletins, the OSC is prepared to make payments of up to $5 million for whistleblowers who supply information which leads to successful prosecutions. This is likely to have implications for how Canadian listed companies deal with their employees.

In addition to soon having new rules and procedures for whistle blowing, the OSC also has a new Chair, Maureen Jensen. According to recent media reports, Jensen says that there have already been numerous calls from people asking the OSC for implementation details. It is unclear whether this means that there are a lot of complainants waiting for the financial awards to come, but that would not be at all surprising. Jensen has said that the program is expected to get final approval in June 2016.

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