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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-04-29T11:39:00
The European Union’s strong stance on whistleblower protection has been undermined by member states’ wildly different approaches to punishing organizations that fail to safeguard people who raise concerns, says a leading speak-up campaigner.
Pav Gill, the whistleblower in the fraud scandal at German payments firm Wirecard, believes that while Europe is serious about encouraging people to blow the whistle, the level of legal protection can vary so much that in some cases it becomes almost negligible.
In Spain, for example, organizations can face penalties of up to 1 million euros (U.S. $1.1 million) for serious failure to protect whistleblowers and/or a three-year ban on entering into contracts with public-sector entities. However, in Germany, a fine for the same offense is capped at just €50,000 (U.S. $54,000).
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News and analysis for the well-informed compliance or audit exec.
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2024-05-23T15:35:00Z By Kyle Brasseur
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
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The Department of Justice is set to join a growing list of U.S. federal agencies to have a whistleblower reward program in place, but how impactful it will be at generating more white-collar investigations and prosecutions rides on its initial design, according to experts.
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When Nick Ephgrave of the Serious Fraud Office said in his maiden speech he favored paying whistleblowers in exchange for information, he might not have been fully aware of the implications, according to legal experts.
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The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
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A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
2024-07-16T16:48:00Z By Aaron Nicodemus
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
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