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Canadian Securities Regulatory Monitor News and Insight

Tag Archives: OSC whistleblower policy

OSC Whistleblower Regime Updates: civil cause of action for whistleblower reprisals

Posted in OSC

The Whistleblower regime of the Ontario Securities Commission (the OSC) has been updated to provide a civil cause of action for whistleblowers who experience reprisal for cooperating with the OSC. For a summary of the current regime, see our previous article.

New Statutory Cause of Action for Whistleblowers

Currently, the OSC expects that employers will not discipline, demote, terminate, harass or otherwise retaliate against a whistleblower who has made a report either “up the ladder” internally or directly to regulators.[1] The OSC also expects employers not to take action, through contractual agreement (including confidentiality agreement) or otherwise, … Continue Reading