Guidelines for whistleblowing to the Australian Securities and Investments Commission (ASIC) have been released.
Deputy Chairman of ASIC, Peter Kell, said the guidelines explain how to report important information to ASIC, how it will communicate with whistleblowers, who is a whistleblower, legal protections available, and how ASIC deals with information provided.
"In our major submission in 2013 to the Senate Inquiry into ASIC we explain how we have enhanced our approach to dealing with whistleblower reports," Mr Kell said.
He said ASIC considers all information from the public as potentially valuable insights into possible misconduct that it may need to act on.
ASIC had trained staff and enforcement teams for the handling of whistleblower reports, as well as implementing a coordinated, centralised procedure for tracking and monitoring reports.
Mr Kell said the Commission took seriously the inside nature of the information provided by whistleblowers in its assessment and handling of the matter, and as far as possible communicates regularly with whistleblowers during the investigations.
ASIC also maintained the confidentiality of whistleblowers within the applicable legal framework.
The updated approach to whistle-blowers extends to "insiders" who seek to provide information to ASIC, but who are not defined in the legislation as corporate whistleblowers. These may be people who are no longer an employee of the company involved at the time they make the disclosure or because they do so anonymously.
See Whistleblowers and whistleblower protection at this PS News link.
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