With less than six months to go until the Whistleblower Protection Directive is implemented into the national laws of the EU 27, employers are recommended to review and update their whistleblowing practices and procedures, if they have not done so already.
The new EU whistleblower laws herald a significant change in approach to whistleblowing in many EU countries, as well as significantly altering the compliance landscape for companies operating in the EU. Employers need to keep abreast of changes to ensure they have an approach which works for their business and achieves local compliance. In addition, multinationals that have long adhered to the US ‘gold standard’ Sarbanes-Oxley Act may need to revisit their approach to ensure their programs satisfy the most extensive protections implemented by a Member State (while continuing to meet US requirements). While the EU framework will require many EU and multinational companies to make changes to their whistleblower programs, it also promises rewards. By ensuring that effective whistleblowing arrangements are in place, businesses have an opportunity to become aware of concerns at the earliest stages, helping to avoid or limit financial and reputational risks.
To assist businesses to understand the provisions of the Directive and its implications, we have published a report which –
- Enables you to track country by country implementation of the EU Whistleblower Protection Directive
- Outlines the key provisions of the EU Directive
- Compares the EU Directive and the US Sarbanes-Oxley regime
- Identifies actions for employers to consider now as they take stock of their programs and prepare for workplace whistleblowing compliance
- Considers practical elements of implementation and administration of an investigations program
- Provides access to summary of current whistleblowing laws in 15 EU member states.
Genie subscribers can access the report content on Genie here.