The Financial Services Regulatory Authority of Ontario (FSRA) announced April 29 that it is introducing a Whistle-blower Program. The goal is to more effectively identify misconduct in the non-securities financial services and pensions sectors, says the regulator.
"FSRA's new Whistle-blower program will help assist us in identifying those who are breaking the rules so we can take appropriate action against misconduct, allowing us to better protect consumers and ensure that whistle-blowers providing information to us can do so safely and without fear of reprisal" said Jordan Solway, FSRA's Executive Vice President, Legal and Enforcement. "If people working in a FSRA regulated sector see something that they believe is misconduct or illegal, FSRA encourages them to come forward with that information and seek protection as a whistle-blower through our program."
The Whistle-blower Program applies to any individual or entity who comes forward in good faith with valuable, timely and non-public (i.e., insider) information related to misconduct in any of the sectors FSRA regulates. FSRA is required by law to protect Whistle-blower's identities.
More information on the program is available on the regulator’s website in the FSRA Whistle-blower section.