ASIC has released a new immunity policy setting out the process and conditions for whistleblowers to obtain immunity from certain civil penalty or criminal proceedings (Immunity Policy). The Immunity Policy extends the types of protection available to a whistleblower beyond those which became available under the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 (Cth) (Whistleblowing Legislation) which came into force in 2019. As a result there is an increased risk that employees may elect to go direct to ASIC rather than raising an issue internally.
Hank is a senior associate in the Sydney office of Baker McKenzie. He has over four years experience in dispute resolution, investigations and compliance work in Hong Kong and Australia, acting for clients in a range of industries including financial services, manufacturing, technology and real estate.