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ARTICLE · 12 JANUARY 2024

Whistleblowers Get Financial Compensation: The BCSC Debuts Its Whistleblower Program

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As of November 7, 2023, the British Columbia Securities Commission (BCSC) implemented a new Whistleblower program (the Whistleblower Program).

CanadaEmployment and HR
Carey Veinotte
Carey Veinotte
Logan Rogers
Logan Rogers
Luke Casburn
Luke Casburn
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As of November 7, 2023, the British Columbia Securities Commission (BCSC) implemented a new Whistleblower program (the Whistleblower Program). Through the Whistleblower Program, the BCSC aims to incentivize individuals to report serious market misconduct in exchange for a notable monetary reward.

The program is specifically aimed at BC's growing investment markets by making it easier for people to qualify for the awards and receive a payout in a timely manner. Each award will range from $1,000 to $250,000; the quantum of each determined on the basis of: (i) how quickly the alleged misconduct was reported; (ii) how much the information contributed to an enforcement outcome; and (iii) the seriousness of the misconduct. More than one award can be offered to a single whistleblower, with the maximum payout set at $500,000.

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