Join the certification program on the EU whistle-blower directive to learn how the whistleblowing option can be an effective policing mechanism against wrongdoing with confidential hotlines instead of occurring in obscurity.
Very often, burying information about how employees can file confidential complaints and be aware of the existence of hotlines to blowing the whistle on sloppy, corrupt, illegal, and greedy organisations and management can have substantial effects, both positive and negative, on the whistle-blower and the stakeholders
Besides the EU directives, several other ‘global’ laws require implementing an effective whistleblowing compliance regime, ranging from Sarbanes-Oxley, the Dodd-Frank Act, and the SEC’s whistle-blower rules. But it is one thing to mandate and another to create a culture of compliance that actively supports employees’ whistle-blower rights.
The corporate compliance culture often starts with the tone at the top from the board of directors. However, the cultural tone can also illustrate the priority that many companies place on whistleblowing in their compliance regimes and to walk the talk to restore the corporate reputation before wrongdoings and manipulation reach the social media.
Improve the corporate compliance culture before events compel management to do so.
Therefore all global companies are tasked with ensuring and overseeing regulatory compliance activities that meet regulatory expectations on whistleblowing. Numerous “red flags” can be revealed through whistle-blower complaints, e.g. fraudulent account openings (700 complaints at Wells Fargo). The board can then focus and investigate the “root cause” of the practices’ aggressive sales goal targets set by senior management.
The new EU directive on whistleblowing is an excellent opportunity for companies with a whistle-blower system to update The Corporate Whistle-blower Protection Program, disclose and report violations of various workplace safety, environmental, financial reform and securities laws. Update policies and procedures on employee and management conduct and behavior.
Companies that violate the whistle-blower protection laws can face fines, suspension of government contracts, civil lawsuits, and reputation damage, reducing the company’s stock value by a substantial amount. Register for the event today: https://www.copenhagencompliance.com/2021-whistleblowers-day/register/.