The B.C. Securities Commission has launched a new whistleblower program, with payments ranging from $1,000 to $250,000.

The program, which launched Tuesday (Nov. 7), will be eligible for information provided now that relates to misconduct before Nov. 7. However, information that was provided prior to Nov. 7 will not be eligible.

Commission CEO Brenda Leong said BCSC always encourages people to report suspicious activity and this new whistleblower program adds incentive.

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The awards will only be given out by the BCSC if the information leads to enforcement action, including: a halt trade order, issuing formal allegations, sanctions after a hearing, a settlement agreement and the identification and location of assets of people who have been ordered to pay financial sanctions.

While the awards will range from $1,000 to $250,000, the exact payment will be determined by several factors: how quickly the information was reported, how much the information contributed to the enforcement outcome and the seriousness of the misconduct. A whistleblower could also receive more than one payment for the same information, but the maximum payout would be capped at $500,000.

The BCSC香蕉视频直播檚 executive director will then determine the amount of the award, if any.

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An has been created to receive tips.

Whistleblowers can submit their own tip or get help from a lawyer. The tips can be anonymous, but in order to receive an award they must reveal their identity to BCSC.