BOSTON, March 15, 2022 /PRNewswire/ -- Pugsley Wood LLP ("Pugsley Wood") is pleased to announce that the Ontario Securities Commission ("OSC") has presented three of its clients with a maximum award under the OSC's whistleblower program. Pugsley Wood's clients provided valuable information that led to successful enforcement action against an investment advisor who failed to comply with the requirements of Canadian law, thereby preserving tens of millions of dollars of investor assets. Pugsley Wood Partner, Bryan A. Wood, represented the whistleblowers before the OSC.
"This group of individuals had the courage to speak up when they saw something unlawful," said Mr. Wood. "Not only did their timely actions preserve substantial investor assets, but they helped the OSC send a message to wrongdoers that illicit actions will not go unpunished. I'm very proud to have served these brave clients."
Modeled after the SEC's Whistleblower Program, the OSC's program awards tipsters with a portion of the fines paid in any related OSC enforcement action. Since its inception in 2016, the OSC has paid approximately $9 million in whistleblower awards associated with approximately $50 million in total fines.
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