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Whistleblower awarded $525,000

By The IJ Staff | April 06 2020 04:00PM

The Ontario Securities Commission (OSC) announced April 6 that it has awarded $525,000 to a company outsider who used their industry expertise to identify irregularities.

"Experts can be among the first to spot signs of potential misconduct in our markets," said Jeff Kehoe, Director of Enforcement at the OSC. "These subtle clues are often buried deep in reams of data and technical information decipherable only by someone with in-depth market knowledge or industry-specific expertise."

"If you have independent analytical information that points to a potential violation of securities law, we want to hear from you." added Kehoe.

The OSC says whistleblower protections are built into its Whistleblower Program. The details of the case are kept strictly confidential, and all reasonable efforts are made to ensure a whistleblower's identity is protected.

Since its launch in July 2016, the program has awarded more than $8 million to whistleblowers.

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