About the Whistleblower Program

Welcome to the Whistleblower Program. Learn more about the program and how it works.

What Is a Whistleblower?

A whistleblower is someone who provides information to the BCSC that meaningfully contributes to an investigation of investment fraud and other serious types of market misconduct. Whistleblowers are eligible to receive a financial award of $1,000 to $500,000.

Why Should I Be a Whistleblower?

Whistleblowing is one of the most effective ways to safeguard the public and expose wrongdoing. It helps save investors money and keeps our market honest and fair.

Am I a Whistleblower?

Not sure whether you are a whistleblower?  Please answer these three questions:

• Does your information relate to fraud or serious misconduct being committed by someone in B.C., or to victims in B.C.?
• Does your information relate to stocks, bonds, mutual funds, cryptocurrency, or anything where money was exchanged and there was a promise to receive more money back?
• Is your information about someone else wrongdoing and not just your own wrongdoing?

If you answered yes to these questions, you should proceed to the whistleblower form and provide us your information.

Am I Excluded From Receiving a Whistleblower Award?

You do not qualify for a whistleblower award if:

• You provide information only about your own wrongdoing. (You may instead qualify for Credit For Cooperation under a different BCSC policy found here.)
• You work for the BCSC, any other securities regulator, or a law enforcement agency.
• You have previously been contacted by the BCSC about this matter.
• You provide information that is false or misleading, was acquired illegally, is subject to solicitor client privilege that has not been waived, or that is a breach of your rules of professional conduct.

If you do not qualify for a whistleblower award, you can still file a complaint with the BCSC.

What is a Whistleblower Tip?

The following are examples of tips that can be submitted to the Whistleblower Program:

• My friend is recruiting people to invest in his company. He is promising high returns and says investors can double their money in a short period of time. He sent me some documents to look at and people are sending him a lot of money. I’m worried it’s a scam and people are going to lose their money.
• I work in online marketing, and I am being asked to write fake reviews pumping up a company’s new technology, claiming the stock price is going to skyrocket. I did some research and it seems suspicious. I’m worried these reviews will convince people to invest and they will lose their money.
• A guy I play poker with keeps telling me about how he has inside information on the company he works for and that he’s making heaps of money buying and selling their stock.
• I am the receptionist and bookkeeper at a small company. The company has raised a lot of money, but it seems like every time we get money, my boss uses it to fund one of his other companies or to pay for his expensive lifestyle.
• A neighbour of mine owes a lot of money to the BC Securities Commission. He brags that they won’t catch him because he has it hidden in another country under his girlfriend’s name. He even told me what bank it’s in.

Can I Provide My Tip Anonymously?

You can submit your information anonymously or through a lawyer. If you provide your information anonymously, please be aware of two things:

1. If you submit documents, ensure that you have removed any reference to your identity like your name, phone number, physical address, email address, or any other information that might identify you.
2. Even information that does not have your name, phone number, physical address or email address can reveal your identity, depending on the number of people who know the same information. For example, if you provide information where you describe a conversation you had where only two people were involved, it might be obvious who provided the information.

If you qualify for an award, you will need to reveal your identity so that we can pay you.

Who does the intake of Whistleblower tips?

All tips, no matter how they come in, are inputted into a portal called IntegrityCounts.

How Do I Submit My Whistleblower Tip?

You can submit a whistleblower tip in the following ways:

• Go to the secure online portal to fill out the whistleblower form and upload supporting documents.
• Print out the whistleblower form, fill it out, and mail it to:
  To whom it may concern
  P.O. Box 91088
  West Vancouver, BC
  V7V 4S4
  Canada
  
  
• Call this phone number – 1-866-BCSC-TIP (1-866-227-2847)

All tips, no matter how they come in, are inputted into the IntegrityCounts portal. If you are submitting your tip anonymously, don’t forget you need to sign back into the IntegrityCounts portal because we will only be able to reach you through the portal’s messaging service and will be unable to pay you if you don’t sign in.

The tip form requires you to certify that the information you submitted is true and complete to the best of your knowledge.

How do I log back in?

Your user name is your IntegrityCounts file number, for example “IC12345”. This is automatically generated when you submit your tip. Your temporary password was also automatically generated when you submitted your tip. The first time you sign back into IntegrityCounts after you submit your tip, you will have to change your password. If you have forgotten your original temporary password, you cannot reset it. If this is the case, you can contact the Office of the Whistleblower at OWB@bcsc.bc.ca or 604-899-6729.

What Factors Will Be Taken Into Account in Deciding How Much I Am Paid?

The BCSC’s Executive Director will consider all relevant factors in determining how much a whistleblower will be paid. They include:

• How quickly you report this matter to the BCSC
• How clear, accurate, organized and complete your information is
• How much you cooperate after you provide your information
• How much your information contributes to an investigation
• The severity of the misconduct that you are providing information about
• Whether you suffer any hardship as a result of exposing the wrongdoing
• How much you were involved in the misconduct you are reporting
• If you owe the BCSC money, any whistleblower money you are awarded will be deducted from that amount

When Will a Whistleblower Be Paid?

Whistleblowers will be paid soon after their tip results in a successful enforcement outcome.

How Is Whistleblower Identity Protected?

If you provide your information anonymously, please be aware of two things:

1. If you submit documents, ensure that you have removed any reference to your identity like your name, phone number, physical address, email address, or any other information that might identify you.
2. Even information that does not have your name, phone number, physical address or email address can reveal your identity, depending on the number of people who know the same information. For example, if you provide information where you describe a conversation you had where only two people were involved, it might be obvious who provided the information.

The Office of the Whistleblower will only share your information and identity inside the BCSC on a need to know basis. We will not share your information or identity outside the BCSC unless required to do so or you consent.

Examples of when we will be required to share your information or identity outside the BCSC include:

• To respondents when we issue a Notice of Hearing under section 161
• To another agency or person when we receive a demand that legally requires us to do so
• To a person who makes a freedom of information request when the Privacy Commissioner orders us to do so

We are not providing you any guarantee or assurance of confidential informer privilege.

The BCSC will only call you as a witness at a hearing with your permission. The BCSC will only enter your documents into evidence if they do not reveal your identity or if we have your permission. The BCSC has no control over whether someone else calls you as a witness or enters your documents into evidence.

Are Whistleblowers Protected Against Retaliation?

The Securities Act prohibits anyone from retaliating against a whistleblower solely for having provided information to the BCSC. Retaliation includes:

• A disciplinary measure
• A demotion
• A termination of employment or a contract
• Any measure that negatively affects employment or working conditions
• A threat to retaliate in any of the ways listed above

Additional Information about our Whistleblower Program

For more information on our Whistleblower Program, please read the BCSC Whistleblower Policy or contact us.

Legal counsel and other securities jurisdictions

If you are legal counsel or you are from another securities jurisdiction and have a question, please contact the Office of the Whistleblower at 604-899-6729.

Media

If you are a member of the media and would like information, please contact:
Brian Kladko
604-899-6713

Public

Inquiries from the public can be directed to:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Technical questions about the online form

If you are submitting your whistleblower tip online and you are having technical difficulties, please contact 866-BCSC-TIP (866-227-2847) to submit your tip.