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The OSC, Canada’s biggest capital markets regulator, says the program is expected to increase the effectiveness its enforcement efforts by providing access to high quality information about matters such as insider trading, accounting and disclosure violations, and misconduct by those registered with the commission.

The program will provide important protection for whistleblowers, including confidentiality and anti-retaliation provisions, which are expected to be in place by the time of launch.

Gorman, who some observers viewed as a strong candidate to cover the vacant position of director of the OSC’s enforcement branch, joined the regulator in 2002. She was most recently deputy director of enforcement, where she oversaw the development of the whistleblower program.

She also led the implementation of the OSC’s no-contest settlement program and oversaw investigation and litigation teams specializing in securities-related misconduct.

Earlier in her tenure, she served as the deputy director of the OSC’s corporate finance branch.

Prior to joining the OSC, Gorman’s experience was in the world of banking, with stints at a large financial institution, and at the Office of the Superintendent of Financial Institutions, Canada’s top banking regulator.

The OSC first considered introducing a paid whistleblower program in 2010, following on the success of an incentive-backed program introduced by the U.S. Securities and Exchange Commission in the aftermath of the financial crisis of 2008.