OSC awards $481K to whistleblower

The Ontario Securities Commission (OSC) has awarded nearly half a million dollars to a whistleblower who helped the commission with a successful enforcement action.

The whistleblower received $481,000 after providing the OSC with “highly detailed information and valuable insights,” the commission said on Monday.

The whistleblower was an insider at the organization in question, it said, and provided information that otherwise could not have been obtained.

Jeff Kehoe, the OSC’s director of enforcement, said the whistleblower’s assistance allowed the commission to collaborate with other regulators to obtain evidence.

“The important information they provided fueled our investigation into wrongdoing and helped us deliver strong and timely enforcement action that protected investors from further harm,” Kehoe said in a statement.

The OSC program, launched in 2016, has awarded $9.33 million to whistleblowers.

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