The B.C. Securities Commission has launched a whistleblower program to catch grifters and fraudsters, but its effectiveness is being questioned.
The B.C. Securities Commission is joining most major jurisdictions in North America with the introduction of a whistleblower program aimed at catching grifters and fraudsters. The question is, will it work? “It’s an interesting program and probably worth a shot,” retired Vancouver Sun business reporter David Baines said in an interview. “But I’m skeptical. We have seen several enforcement and fine collection initiatives announced with much fanfare that have had little or no material impact.
“Will we see any substantive enforcement actions that arise from this? I would imagine we will see a few minor cases come forward but it remains to be seen if this program will prove worthwhile, given the resources that will be needed to screen and develop tips into viable enforcement cases,” said Baines. The commission’s chair and CEO Brenda Leong has kicked off a public relations campaign to advertise the new program, which follows in the footsteps of the one launched in Ontario in 2016 and what she calls the “gold standard” of the United States Securities and Exchange Commission (SEC
B.C. Securities Commission Whistleblower Program Grifters Fraudsters Enforcement Actions Resources Public Relations Campaign
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
B.C. Securities Commission to pay whistleblowers up to $250K for tipsAwards will range from $1K to $250K and will depend on information reported, how quickly
Read more »
Australia sues Kraken provider over crypto margin tradingThe Australian Securities and Investments Commission has filed a lawsuit against Bit Trade alleging non-compliance.
Read more »
US SEC charges 12 firms with record keeping failuresThe U.S. securities regulator on Friday said it had fined 12 companies, including brokers, investment advisers and credit rating firms, for record keeping failures. The Securities and Exchange Commission (SEC) said the companies, including Interactive Brokers Corp, Fifth Third Securities and Nuveen Securities, agreed to pay a total of $79 million and admitted they violated the record keeping rules. Reuters first reported the SEC was nearing settlement with several Wall Street firms earlier this week.
Read more »
Salesman's Commission DisputeA Salesperson Was Cheated Out Of A Huge Payout, So He Decided To Take Down The Company work money
Read more »
SEC fines Citigroup, former unit over customer disclosures(Reuters) - Citigroup and a former unit were fined $1.975 million by the U.S. Securities and Exchange Commission on Thursday for making securities ...
Read more »
Goldman, Citadel Securities Pay SEC Millions Over Trade LabelingGoldman Sachs Group Inc. and Citadel Securities each reached multimillion-dollar settlements with the Securities and Exchange Commission on Friday over how they labeled millions of trades.
Read more »