TORONTO — Canada’s largest securities regulator predicts that its bounty-paying whistleblower program will be a “game changer” in the fight against market fraud and abuse.
The OSC officially launched the program on Thursday, making Ontario the first Canadian jurisdiction to offer cash rewards of up to $5 million to whistleblowers that supply tips that lead to successful enforcement actions and monetary penalties.
“It’s time to change the stigma of whistleblowing,” says Kelly Gorman, who on Thursday became the first person to serve as chief of the OSC’s Office of the Whistleblower.