Nearly one year has passed since European Union member states were supposed to have met the December 17, 2021 deadline for incorporating the EU Whistleblower Protection Directive into their national laws.
Yet, just 10 of the 27 EU member states have adopted implementing legislation, according to data from the EU Whistleblowing Monitor. To date, these countries are Croatia, Cyprus, Denmark, France, Ireland, Latvia, Lithuania, Malta, Portugal, and Sweden. All other EU member states are in a delayed state with draft legislation, except for Hungary, which remains the only one that has yet to initiate any steps toward implementation.
Even in this state of regulatory limbo, multinational companies with an EU presence that are already acclimated to the U.S. Sarbanes-Oxley (SOX) Whistleblower Protection Law can – and should – start to reevaluate their internal reporting systems and investigation procedures as each EU member state in which they operate gradually begins to implement the Directive.
This article recaps some of the key aspects of the Directive, explores some of the nuances between each member state (as they stand now), and discusses both the compliance challenges and solutions in line with the Directive for establishing a sound internal reporting system.
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