New Whistleblower Laws and Policies In Effect for 2020

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There has never been a time in American history when whistleblowers have had more protections afforded to them than they do right now. The last 10 years have seen significant increases in the protections and benefits provided to whistleblowers, and 2020 has seen some new rules go into effect that further enhance those protections.

In 2019, congress amended the Corporations Act 2001 (Corporations Act) and various other finance-related pieces of legislation to provide a clearer, more consolidated whistleblower protection regime in the corporate and financial sectors. Under the new regime, there are enhanced protections for eligible whistleblowers who disclose certain forms of misconduct.

Whistleblowers must meet the following legislative requirements to be eligible for those protections.

They must qualify as a whistleblower. For these purposes, an eligible whistleblower is an officer, employee, supplier (or employee of a supplier) of goods or services, an associate or a relative/dependent of any previously listed person.
The must disclose information relating to the regulated entity or a related corporate body of that regulated entity, and have reasonable grounds to suspect the information is related to a disclosable matter (such as misconduct or other improprieties).
They must disclose this information to a regulator or other eligible recipient, such as an attorney, officer, senior manager, auditor, actuary or any other authorized person.

In addition, certain entities that did not have whistleblower policies implemented by January 1, 2020 would be subject to penalties, including fines.

For more information about some of the latest protections provided to whistleblowers, contact an experienced whistleblower attorney at Kardell Law Group.

By Steve Kardell | Published June 29, 2020 | Posted in Uncategorized

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Testimonials

"Steve Kardell was terrific in representing me in some very adversarial discussions with Citigroup and also later represented me in my testimony before the Financial Crisis Inquiry Commission." -Richard Bowen, Citigroup Whistleblower
"Incredible knowledge of employee related concerns and equally brilliant knowledge of health care regulations, standards of practice. I would recommend this firm to anyone." -V.B.
"Reaching out to Steve Kardell was the best decision I made. His ability to provide immediate insight and direction was very powerful, and a huge relief during a very stressful time period. For anyone struggling with a whistleblower situation, I would highly recommend at least speaking with Steve. After a 10 minute call with him, I had a better understanding of what I was dealing with. Even better, he gave me some immediate hope. In the end Steve did a better job than I thought was possible. Steve was able to get in contact with people in my organization, that I didn’t have access to. Because of his years of experience, he already has contacts in many organizations in Dallas. The entire situation was handled peacefully. I was impressed by his ability to “keep the peace”–rather than creating a battle with the organization. The reason I didn’t reach out to a lawyer initially, was because I thought it would mean an immediate end to any hope of a positive relationship with the company. Steve was able to address my concerns, and in the end I was able to continue to work for them." -KS
"Never thought my career would end like it did after 30 years of service. I was part of the first round of the so called reduction of force. I asked myself how can I be part of this with 30 years of seniority. How did they pick these 90 plus employees? Now, the culture of this organization made you question every decision they made. It wasn’t what you knew it’s was a culture of who you know. Nonetheless, I did not accept their severance package. I immediately starting looking for an attorney who would take on my case. After the initial call to Steve I had hope again. He was open and honest about everything and reassured me he would do his best for me, and he did. I had an awesome outcome. Thanks Steve you’re the best." -S.S.