Temat: New UK Whistleblower Rules: A Roadmap

New UK Whistleblower Rules: A Roadmap

Financial firms in the UK are grappling with new whistleblower requirements aimed at helping to prevent another financial crisis. And while many in the financial community are nervous about the new requirements, we believe British companies will actually benefit from implementing them.

The rules require financial sector companies to establish mechanisms to allow—and even encourage—employees to raise concerns internally when they believe they’ve seen wrongdoing at their firms.

UK Whistleblower Requirements: A Snapshot

The rules’ first requirement—that financial companies “appoint a senior person to take responsibility for the effectiveness of these arrangements,” also known as a whistleblowers’ champion—took effect earlier this month. The Financial Conduct Authority (FCA) also mandates that, by September, organisations must:
•Implement internal whistleblowing capabilities for all types of disclosure from all types of persons

Read: http://www.navexglobal.com/blog/2016/03/21/new-uk-whis...