Talk about night and day: Whistleblowers in Canada could receive $$$ for exposing wrongdoing.....

[marmar]

Whistleblowers in Canada could receive awards in excess of $1 million for exposing corporate wrongdoing as part of a formal policy being unveiled Wednesday by the Ontario Securities Commission.

Tom Atkinson, the commission’s director of enforcement, announced Monday that the awards could be larger in some cases, especially if more than $10 million in Canadian dollars was collected under the scheme.

Canada’s Financial Post reports:

(Atkinson) said he could not elaborate until the formal policy is unveiled, but suggested that qualifying for the higher amount would likely be tied to the collection of sanctions or settlement payments, rather than simply the assessment of money due.

The OSC surprised some market participants when the plan for a whistleblower program to encourage reporting of serious securities misconduct was unveiled in February. The original proposal stated that a whistleblower could receive up to 15 per cent of monetary sanctions or settlement payments of more than $1 million, up to the cap of $1.5-million.

During subsequent roundtables, some market participants argued that financial incentives should not be capped, and that they should be paid out to whistleblowers when their tips lead to any financial sanctions, even when those sanctions or settlement payments don’t exceed $1 million. .............................(more)

http://www.truthdig.com/eartotheground/item/whistleblowers_in_canada_could_receive_awards_over_1m_for_exposing_corporat

[ruffburr]

1. I'm seriously-

Considering applying for political asylum, The way things are going here we will end up with Third way corporatists or a bunch of crazed teahadhists with christian sharia laws

[think]

2. K&R.