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Rewards too limited? The whistleblower program may need bigger payouts

INVESTMENT EXECUTIVE
By James Langton, February 2017

The Ontario Securities Commission's (OSC) whistleblower program still may be in its infancy, but an American expert in the field worries that the program needs to give prospective tipsters greater incentives to come forward.

In mid-2016, the OSC launched the first whistleblower program at a Canadian regulator. This program offers financial rewards for information that leads to major enforcement action. The program still is in the very early stages: it has taken in tips from prospective whistleblowers, but has yet to pay its first reward for a resulting enforcement action.

The success of the program in Canada is too early to call. Furthermore, Stephen Kohn, a lawyer with Washington, D.C.-based Kohn Kohn & Colapinto LLP who specializes in representing whistleblowers, warns that the OSC's program has flaws that, he believes, could prevent it from realizing its full potential in the long run.

Kohn warns that the $5-million cap on a possible payout by the program represents a fundamental limitation that will hamper the effectiveness of the program. Speaking at a conference hosted by the University of Toronto's Joseph L. Rotman School of Management in late January.

Read the entire article in Investment Executive »

New Director of Capital Markets Institute Appointed at the University of Toronto’s Rotman School of Management.

October 27, 2016

An expert in corporate governance and finance has been appointed as director of the Capital Markets Institute (CMI) at the University of Toronto’s Rotman School of Management. The CMI is a centre for independent and rigorous research, analysis and debate on capital markets issues, with the objective of improving the competitiveness and functioning of Canadian markets. The goal of the CMI is to bring together academics, industry participants, regulators and politicians, to explore key capital market issues and to share our knowledge broadly.

Professor Alexander Dyck holds the Manulife Chair in Financial Services and is a professor of finance and business economics who has been at the Rotman School since 2004. He is an Academic Director of the Director’s Education Program, jointly developed by the Institute of Corporate Directors (ICD) and the Rotman School, has been a board member of the Rotman International Center for Pension Management, and is a Fellow at the Michael Lee-Chin Family Institute for Corporate Citizenship at the Rotman School.

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Rotman School of Management Opens the Market

Friday, May 22, 2015

Tiff Macklem, Dean, Rotman School of Management at the University of Toronto, joined Michael Ptasznik, Chief Financial Officer, TMX Group, to open the market to celebrate TMX Group’s five-year Lead Sponsorship of the Capital Markets Institute (CMI) at the Rotman School of Management. Several representatives of co-sponsoring organizations from Canada’s financial services community also attended the market open ceremony. Since 1998, the CMI has worked to foster a clear understanding of the challenges facing the Canadian capital markets, and the institutional tools that our country could develop in order to convert those challenges into opportunities to be a leader among the world’s small, open capital markets.

Watch on YouTube »

Crowdfunding: A help or hindrance?

Rick Spence
January 23, 2014

Digital technology is changing the way entrepreneurs and new products get funded. But is crowdfunding - today's best-known and most-hyped finding tool - the best way to go?

At a recent conference at the University of Toronto's Rotman School of Management, a wide range of experts discussed today's financial channels, and what surprises the future is likely to bring. Here's your hacker's guide to some of their points of view.

Read the entire article in the Financial Post »

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