The Investment Industry Regulatory Organization of Canada has established a whistleblower service to take action on reported knowledge or tangible evidence of wrongdoing, fraud, or unethical behaviour among individuals or firms in the investment industry.

On Monday, the national self-regulatory organization announced that the new service is in effect immediately.

To assist individuals who want to report information, IIROC has established a centralized service that includes a toll free number and a web page where individuals can email the whistleblower team.

The team is comprised of Maureen Jensen, senior vice president of surveillance and compliance, Rosemary Chan, senior vice president of general counsel and corporate secretary, Carmen Crépin, vice president, Quebec, and Warren Funt, vice president, Western Canada.

Whistleblower team members will immediately assess and ensure that prompt and appropriate follow-up action on reported issues or behaviour is taken.

“This service will ensure that individuals who believe that they have significant information to convey deal directly with IIROC senior staff who will ensure that each tip is properly evaluated and promptly dealt with,” said Susan Wolburgh Jenah, IIROC president and CEO.

The new service will not replace IIROC’s complaint handling services for clients of regulated firms; such clients will continue to call IIROC’s complaint line.

IE