Our Employment Team summarises a consultation paper on newwhistleblowing rules
Our employment team have produced a summary of a FCA and PRA consultation paper on how they propose whistleblowing issues are going to be handled in future - a mix of legal/HR and compliance issues. It is going to make some very important and wide-reaching changes, including that an independent non-executive director will have to be appointed as a “whistleblowers’ champion” and will have overall responsibility and specific regulatory accountability to ensure those making disclosures are not mistreated and will have to produce an annual report to the board.
Other headline changes include:
- Making mandatory changes to employment contracts and settlement agreements – Widening the scope of what constitutes whistleblowing
- Expanding the scope of those who will receive protection (via regulatory action if not covered under the existing legal framework)
- Advising employees they can approach the regulators direct and how to do so
- Mandatory reporting to the regulators if a whistleblowing case is lost
- Measures put in place for anonymous reporting
- A possible obligation on employees to report wrongdoing
Here is a link to the summary.
New court fees come into effect
Court fees increased significantly on 9th March 2015. Broadly, there is now a 5% fee for all claims valued over GBP 10,000, subject to a cap of GBP 10,000 for claims worth more than GBP 200,000