media release (14-032MR)

ASIC information sheet on whistleblowers and whistleblower protection

Published

ASIC has released information about its approach to dealing with whistleblower reports.

The information sheet is part of ASIC’s commitment to improve its communication and handling of information brought to its attention by whistleblowers.

It explains:

  • reporting important information to ASIC

  • how we will communicate with whistleblowers

  • who is a whistleblower

  • the protections available to whistleblowers under the law,

  • how ASIC deals with information from whistleblowers.

‘In our major submission in 2013 to the Senate Inquiry into ASIC we explain how we have enhanced our approach to dealing with whistleblower reports,’ ASIC Deputy Chairman Peter Kell said.

The information sheet assists those who wish to provide information to ASIC of an inside nature.

ASIC considers all information from the public as potentially providing valuable insights into possible misconduct that we may need to act on.

Download

Information Sheet 52 Whistleblowers and whistleblower protection (INFO 52)

ASIC’s major submission to Senate Inquiry (13-300MR)

ASIC’s wider approach to receiving tip-offs, complaints and reports of misconduct (12-245MR)

Background

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).