VANCOUVER, BC, July 5, 2024
/CNW/ - The B.C. Securities Commission (BCSC) is reminding people
who submitted anonymous tips through its newly created
whistleblower program – and who want to receive financial awards
for doing so – that they must identify themselves to the BCSC
before receiving an award.
The BCSC has completed reviews of several whistleblower tips and
determined that some whistleblowers may be eligible for awards. But
the BCSC needs more information from them.
Due to the anonymity provided by the online whistleblower
portal, the BCSC has no way of contacting whistleblowers who submit
information anonymously. If they want to receive an award, they
must regularly log back into the online portal they originally used
to provide the tip, to see if more information, including
identification, is required of them.
"Whistleblowers who want to remain anonymous to the BCSC can
certainly do so," said Peter Brady,
the BCSC's Executive Director. "But if they want to receive a
financial award, they need to identify themselves to the BCSC."
The BCSC's whistleblower awards range from $1,000 to $250,000,
and are determined by how quickly the information was reported, how
much the information contributed to the enforcement outcome, and
the seriousness of the misconduct, among other considerations. A
whistleblower also could receive more than one award for the same
information, with the maximum payout capped at $500,000.
About the B.C. Securities Commission (www.bcsc.bc.ca)
The B.C. Securities Commission, an independent provincial
government agency, strives to make the investment market benefit
the public. We set rules, monitor compliance by industry, take
action against misconduct, and provide guidance to investors and
industry. As guardians of B.C.'s investment market, we're committed
to maintaining a market that is honest, fair, competitive and
dynamic, enabling British Columbians to thrive.
Learn how to protect yourself and become a more informed
investor at www.investright.org
SOURCE British Columbia Securities Commission