Constantine Cannon applauds the Ontario Securities Commission Whistleblower Program on a very positive update on its performance from 2016 to 2022. Constantine Cannon attorneys have been following the development of the OSC Whistleblower Program with interest from the beginning, and we are pleased to represent participating whistleblowers. The March 9, 2023 report highlights the success of the OSC Whistleblower Program in its first five years and eight months, noting that whistleblowers contributed to successful cases against 19 respondents. These cases brought in a total of $48 million in monetary sanctions and voluntary payments over the five-year period. Eleven whistleblowers have received awards totaling over $9 million.
The OSC report reveals encouraging news about the Whistleblower Program’s reach and the profiles of whistleblowers to date. Thanks to the hard work of Program staff to spread the word, the number of whistleblower tips received annually has been steadily increasing with a 17% average annual increase in tips. (Our own Mary Inman did her part to publicize the program, participating in a panel alongside OSC Whistleblower Program senior forensic accountant Shaifali Joshi-Clark in 2021. Mary chairs the Advisory Board of Whistleblowing Canada Research Society, which organized the event.) Fiscal year 2022 saw 89% more tips than the Program’s first full fiscal year. And tips are not just from Ontarians; the Program welcomes whistleblowers from around the world...
The Dangote Group has become aware of a publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” which is false, malicious, and baseless. At no time did the Pre...