ASIC has enhanced its approach to dealing with whistleblower reports. This includes:
appropriate training and expertise in all stakeholder and enforcement teams for the handling of whistleblower reports
a coordinated, centralised procedure for the tracking and monitoring of all whistleblower reports
giving appropriate weight to the inside nature of the information provided by whistleblowers in our assessment and ongoing handling of the matter
providing prompt, clear and regular communication to whistleblowers to the extent possible and appropriate during our investigations, and
maintaining the confidentiality of whistleblowers within the applicable legal framework.
The updated approach to whistleblowers extends to ‘insiders’ who seek to provide information to us but who are not defined in the legislation as corporate whistleblowers (e.g. because they are no longer an employee of the company involved at the time they make the disclosure or because they do so anonymously).