Whistleblower Partners is proud to announce that its client has received a $300,000 (CAD) award from the Ontario Securities Commission (“OSC”). As recognized in OSC’s press release, our client, who remains anonymous, provided significant information to the OSC that helped halt complex and difficult-to-detect misconduct. In making the award, the OSC emphasized that our client’s “seniority, knowledge and experience” allowed them to provide highly valuable “actionable intelligence” that led to a successful enforcement action.

The OSC regulates financial frauds in Ontario, Canada, with jurisdiction over the securities and commodities markets. Like the CFTC and SEC Whistleblower Programs in the United States, the OSC Whistleblower Program provides protections and monetary awards to whistleblowers who report potential violations of Ontario’s securities and commodities laws. When a whistleblower’s information leads to a successful enforcement action, they can receive an award ranging from 5% to 15% of the OSC’s recovery.

Our client is represented by WP attorneys Chris McLamb, Mike Ronickher, and Wayne Lamprey, with substantial assistance from our staff, Karen Yang and Luiza Sulikyan. Jessica Moore also previously represented the whistleblower. In addition, we are grateful to our Canadian co-counsel, Michael Fisher at RavenLaw.

Chris McLamb said: “The OSC appropriately recognized the extraordinary contributions of our client, who spoke up at significant personal risk to stop longstanding misconduct. When it comes to complex financial frauds, government regulators rely on courageous whistleblowers like our client to identify misconduct and protect the investing public.”

Mike Ronickher said: “Reward programs like the OSC’s are critical in fighting against financial frauds. By acknowledging the risks people like our client face when they take a stand, they incentivize others to do the same.”

The attorneys at Whistleblower Partners have significant experience reporting securities and commodities frauds to the OSC, SEC, and CFTC. Our pending matters cover a wide variety of misconduct, ranging from cryptocurrency scams and complex derivatives schemes to accounting frauds and other misrepresentations to retail investors. If you would like more information or would like to speak to an attorney at Whistleblower Partners, please contact us for a confidential consultation.