SECURITIES COMMISSION GETTING LOTS OF TIPS

Sep 27, 2016

By Michael Kramer

Share on

The Ontario Securities Commission says it’s new whistleblower program has already brought in more than 30 tips – since it was launched in July.

Rewards of up to $5 million are offered for tips that lead to successful prosecution of serious securities law violations – like insider trading, accounting tricks – and market manipulation.

OSC chair and CEO Maureen Jensen says the program has been “fruitful out of the gate” – in her comments at the Toronto Region Board of Trade today.

It was Jensen’s first keynote speech – since taking over the helm of the OSC.

Jensen also spoke about the need to improve investor protection – by exploring the possibility of banning embedded mutual fund fees.

The OSC had originally planned to cap maximum reward payments at  $1.5 million, but it raised that amount after experts suggested that sum was too small to compensate senior executives – who risk losing high-paying jobs and being blacklisted from their industries for becoming whistleblowers.

Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: