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Inside Internal Controls

News and discussion on implementing risk management

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whistleblower

$8 million awarded for employer retaliation claim following Whistleblower Report

While massive awards paid out by regulators to whistleblowers continue to dominate headlines, a U.S. jury recently awarded a significant damages award to a former employee who alleged that his employer retaliated against him after he reported misconduct.

 

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A review of new whistleblower protections under Ontario’s Securities Act

In connection with the establishment of the Ontario Securities Commission’s new Whistleblower Program in July 2016, which includes monetary incentives for whistleblowers in Ontario, the Ontario government has approved amendments to the Securities Act (Ontario) to provide additional protection to persons who report a potential violation of Ontario securities law or a by-law or other instrument of a self-regulatory organization. The amendments were proclaimed into force on June 28, 2016.

 

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OSC proposes large financial awards for whistleblowers

The Ontario Securities Commission (OSC) is inviting comment on a proposed comprehensive whistleblowing program (Program) which would award eligible whistleblowers up to $1.5 million for reporting securities law misconduct that leads to significant enforcement or settlement orders.

 

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