Global financial services firms with operations in the EU should not be complacent about the impact of the Whistleblowing Directive. Although Brexit means that the UK has left the EU, the directive is still relevant to UK business with an EU footprint. UK based financial services firms will therefore need to decide whether and how to change their whistleblowing arrangements to comply with a patchwork of new rules. Financial Services firms in the UK are already subject to the FCA's rules on whistleblowing contained in Chapter 18 of the SYSC part of the FCA Handbook. We consider the challenges faced by financial services firms in implementing the requirements of the new regime alongside the current regime introduced by the FCA.
The Whistleblowing Directive was due to be transposed by EU member states into national law on 17 December 2021. Many member states have delayed doing so. This delay is not helping business to plan and achieve uniformity across their organisation. There is no option but to delay implementing a unified response to the new regime until the position is clear in each jurisdiction.
The Directive applies to every organisation operating in a member state irrespective of size. But there is one key provision that is dependent on the number of workers engaged by that firm. Those firms who currently have more than 250 workers in any member state, and any firm who will have 50 or more workers as at 17 December 2023, must establish secure and confidential...
By Daniel Dale, CNN (CNN) — President Donald Trump made false claims about inflation and birthright citizenship in an interview with CNBC on Tuesday morning. Inflation CNBC anchor Joe Kernen corre...