Following the new whistleblower protections introduced earlier this year, ASIC has released an extensive Regulatory Guide (RG 270) imposing additional requirements that must be contained in a company’s Whistleblower Policy.
Public listed companies and large proprietary companies should ensure they have a Whistleblower Policy compliant with RG 270 in place by 1 January 2020.
ASIC’s guidance requires that Whistleblower Policies contain:
- external disclosure options for whistleblowers (eg: using a specific whistleblower service);
- details of the steps a company will implement to protect the confidentiality of a whistleblower and protect them from detrimental acts or omissions (eg: redacting documents containing details of the whistleblower’s identity); and
- measures for ensuring the Whistleblower Policy is easily accessible by persons outside of the company who may become whistleblowers.
These are just examples of the Whistleblower Policy requirements. Please contact GRT Lawyers if you would like further information about RG 270.