The Protected Disclosures (Amendment) Act 2022 ("2022 Act") comes into effect on 1 January 2023. The changes it makes to the Protected Disclosures Act 2014 are outlined in our previous client update.
Of primary note, the 2022 Act requires that all entities initially in scope must have and maintain internal reporting channels and investigation procedures that comply with its requirements from 1 January 2023.
By virtue of (i) prescribing a wide range of EU regulated entities to be in scope and (ii) the regime now applying to a more extensive range of individuals connected to a relevant entity, most Irish regulated entities will be subject to the new whistleblowing obligations from 1 January 2023.
Without reference to specific legal structure, the 2022 Act applies, in its initial phase, to any 'employers' that are entities who fall within the scope of a prescribed list of EU laws. This list covers a wide range of areas of financial services regulation, including EU directives / regulations applicable to the following, non-exhaustive list of Irish authorised entities:
The list also covers entities that fall within the ambit of the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021 ("CJA").
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