Have you heard of the recent whistleblowing case involving JPMorgan?
A JPMorgan Chase subsidiary has agreed to pay $18 million to the Securities and Exchange Commission (SEC) to settle charges of violating whistleblower protection rules. The SEC alleged that from March 2020 to July 2023, JPMorgan Securities hindered hundreds of advisory clients and brokerage customers from reporting potential violations of securities law by asking them to sign confidential release agreements.
This case highlights the critical importance of robust whistleblower protection systems.
According to the EU Whistleblowing Directive, all companies with 50+ employees must now have a whistleblowing system in place (deadline passed on 17 December 2023).
To avoid sanctions and reputational damage, like JP Morgan, and penalisation and unfair dismissal claims to the WRC, companies must act to ensure they have whistleblower policies and procedures, reporting channels and systems, and trained personnel in place to receive and act upon whistleblower complaints within the designated timeframes.
CollierBroderick can support your whistleblowing processes when it comes to investigating a whistleblowing complaint. We have a team of expert workplace investigators who have been investigating workplace issues for the past 15 years. They are trained and experienced workplace and protected disclosures investigators and Barristers. If you have a protected disclosure which must be investigated, please contact us.