Statement of Purpose
The MFDA has established its Whistleblower Program to receive information from individuals who have knowledge or evidence of potential unethical or illegal activity or contraventions by MFDA Members or Approved Persons of MFDA By-laws, Rules, Policies or Canadian securities requirements. The activity in question may have occurred in the past, be ongoing or about to occur.
Tips and information from whistleblowers will help the MFDA Enforcement Department identify potential fraud and other misconduct and take the necessary regulatory action against responsible parties earlier than otherwise possible, thereby advancing the MFDA’s mandate to enhance investor protection and strengthen public confidence in the Canadian mutual fund industry.
Who is a Whistleblower?
Whistleblowers are typically individuals who raise concerns about potential wrongdoing in their workplaces, but may include other individuals who have knowledge or evidence of potential wrongdoing within an organization. By virtue of their employment, some whistleblowers may have inside information about the circumstances and individuals involved in potential misconduct.
If you are a client of an MFDA Member and wish to make a complaint, or are unsure whether the parties about whom you have concerns are subject to MFDA jurisdiction, please visit: How to Make a Complaint or call toll-free at 1-888-466-6332 and select option 1.
Whistleblowers will be asked to provide the factual details of the potential wrongdoing involved and any related documentation, if available.
Confidentiality of the identity of a whistleblower and the information they provide will be maintained to the fullest extent possible. However, whistleblowers are advised that the MFDA may be required to disclose, produce or share whistleblower information with the Member concerned, other regulatory or law enforcement agencies, during the course of an investigation or disciplinary proceeding or as otherwise required by law.
Contact the MFDA Whistleblower Team
The MFDA understands that the decision to come forward as a whistleblower is not one taken lightly. The MFDA Whistleblower Program allows for the expedited review of likely sensitive whistleblower information by senior MFDA Management with the skills and experience necessary to properly assess risk and determine the appropriate course of action.
The MFDA Whistleblower Team consists of:
- Charles Toth, Vice-President, Enforcement
- Jeff Mount, Vice-President, Pacific Region
- Mark Stott, Vice-President, Prairie Region
If you are a Whistleblower and have a tip or information to provide, please contact the MFDA Whistleblower Team toll free at 1-888-466-6332 and select option 2, or by email at email@example.com.