Whistleblowers
Whistle blowers are protected.
Overview
The Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC) and other securities commissions in Canada accept tips on possible violations of local securities law, offer protections for individuals who come forward, as well as a rewards of up to $5 million for tips that lead to enforcement actions. Examples of violations of securities legislation including illegal insider trading, tipping, fraud, misleading disclosure and financial statements and trading-related misconduct including market manipulation.
The whistleblowing programs of the Canadian securities commissions are designed to provide incentives and protections to individuals who report violations of securities legislation. Whistleblowers are protected and may be entitled to payments based on the fines levied against the individuals and entities that are the subject of the whistle blowing.
If you are a whistleblower and wish to submit a whistleblower report with a Canadian securities commission or if you are subject to reprisals related to your whistleblowing under securities legislation, please contact us. Barbara Hendrickson has been practicing in this area for a number of years and is listed in The Ontario Lawyers Directory for Whistleblowers and The British Columbia Lawyers Directory for whistleblowers, published by Whistleblowing Canada.
News and Insights
CSA Publishes Updated Cybersecurity Findings and Guidance for Registered Firms
The Canadian Securities Administrators (CSA) have published CSA Staff Notice 33-322 Review of Registered Firms’ Cybersecurity Practices and Additional Guidance…
CSA Seeks Comment on Modernizing the Regulation of Public Companies
The Canadian Securities Administrators (CSA) has published CSA Consultation Paper 51-406 Modernizing the Regulation of Public Companies (the Consultation Paper)…
Canadian Securities Administrators Published Amendments to Allow Higher Limits for
The Canadian Securities Administrators (CSA) has published proposed amendments to National Instrument 45-106 Prospectus Exemptions and changes to the Companion…
Whistleblowing in Canada
When news of a whistleblowing award becomes public in Canadian financial circles it usually makes news; not only from the…
Canadian Securities Administrators Publish Amendments to National Instrument 81-105 Mutual
The Canadian Securities Administrators (CSA) recently announced the publication of final amendments to the principal distributor model (the Final Amendments)…
BCSC Issues its First Whistleblower Award
The British Columbia Securities Commission (BCSC) has made its first whistleblower award of $25,000 to an individual whose information contributed…
Awards and Recognition
- Best Lawyers Best Canadian Law Firm: BAX Securities Law® received this award in 2025 and 2026
- Canadian Lawyer Top Corporate Law Boutiques: BAX Securities Law® received this award in 2016, 2017, 2018, 2019, 2020
- The Canadian Legal Lexpert Directory: Barbara Hendrickson has been repeatedly recognized in the Corporate Finance & Securities Law area.