Whistleblower Service

CIRO’s Whistleblower Service has been established to receive, evaluate and take prompt and effective action on reported first-hand knowledge or tangible evidence of potential systemic wrongdoing, potential securities frauds or misconduct by CIRO-regulated individuals or firms.

Who is a Whistleblower?

A whistleblower is a person who provides first-hand knowledge or evidence of potential misconduct or illegal activity occurring in an organization. Usually this person is from that same organization and had access to information by virtue of their job position (they are not simply providing personal opinion).

If you have first-hand knowledge or evidence of potential wrongdoing by a CIRO-regulated firm or individual, please contact our Whistleblower Service.

The Whistleblower Service should not be used for complaints directly related to your own account(s) at a CIRO-regulated firm. If you are a client of a CIRO-regulated firm and would like to make a complaint related to your account(s), your advisor or firm, please contact our Complaints and Inquiries team.

If you are uncertain whether you are a whistleblower, whether CIRO has jurisdiction over the individuals or firm involved, or for more information on how to proceed, please contact our Complaints & Inquiries team.

What do we need from you?

We require specific, timely, factual details of the potential misconduct or illegal activity, including the names of the individual(s) and/or firm(s) involved and any related documentation if available, so we may take appropriate action.

All information received from a whistleblower will be treated in confidence to the fullest extent possible. CIRO, however, cannot guarantee that the whistleblower’s identity or the documents received from the whistleblower, will not become known during the course of a related investigation or possible prosecution if we are compelled by law to disclose this information.

What can you expect from CIRO’s Whistleblower Service?

Senior CIRO staff will immediately evaluate the matter to determine the appropriate course of action. We may request additional information/evidence from you to support your allegations.

Please note that due to the confidential nature of our enforcement process, we are unable to provide you with information relating to our investigation or findings. However, if we proceed with formal disciplinary action, the matter then becomes public and a notice detailing the allegations and respondents (but not the whistleblower) will be posted on our website.

Please note that we do not offer any financial award to whistleblowers. Information from whistleblowers helps CIRO Enforcement identify potential misconduct and take the necessary regulatory action against responsible parties, thereby advancing CIRO’s mandate to protect investors and build Canadians’ trust in financial regulation and the people managing their investments.

How can you contact the Whistleblower team?

To provide information, please email us at [email protected], call the Whistleblower Hotline at 1-866-211-9001 or mail it to one of our offices in Calgary, Montreal, or Toronto.

CIRO records all calls to and from the Whistleblower Service telephone lines.