Ontario’s Proposed Whistleblowing Policy is coming:
What you need to know and do to be compliant
Presented on December 2, 2015
Ontario’s Proposed Whistleblowing Policy is coming: What you need to know and do to be compliant
- Speakers:
- Tom Atkinson, Director of Enforcement, OSC
- Rene Sorell, Partner, McCarthy Tétrault LLP
- Michael Savage, Partner, Ernst & Young LLP
- Shane D’Souza, Associate, McCarthy Tétrault LLP
The Ontario Securities Commission has just published its proposed Whistleblower Policy, which is open for comment until January 12, 2016. The policy, would award eligible up to $5 million for reporting securities- or derivatives-related misconduct that leads to significant enforcement or settlement outcomes. Reporting issuers will want to re-examine internal compliance and reporting systems, codes of conduct and confidentiality provisions in employment agreements in light of the proposed program.
We have convened a panel of experts to provide guidance about how the policy will take shape in practice - Tom Atkinson, Director of Enforcement, Ontario Securities Commission, Rene Sorell, Senior Partner in McCarthy’s Securities Group, and Michael Savage, Partner at Ernst & Young with Shane D’Souza, Senior Associate in our Securities Litigation practice acting as a moderator. Please join us for a robust discussion that will include the following points:
¬ Factors that will determine Financial Awards
¬ Tensions with eligibility of Counsel, Internal Compliance Staff, Directors and Officers, and Auditors as whistleblowers
¬ Employee Protection from Reprisals
¬ Potential Impact of the Program on Internal Compliance and Reporting Procedure
¬ Potential Impact of the Program on existing relationships with third parties
¬ Potential Impact of the Program on Internal Investigations
¬ Proactive Measure that Directors should consider