Recently, the B.C. Securities Commission (BCSC) announced it will start paying people who provide helpful information about investment fraud and other serious types of market misconduct.
The awards will range from $1,000 to $250,000 and be 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.
“The BCSC always encourages people to report suspicious activity, and we think these awards provide an added incentive for people to contact us and provide information that will help make our market more honest and fair,” said Brenda Leong, chair and CEO.