PRESS RELEASE
18 November 2020

Ireland Update: Winds Of Change For Whistleblowing

W
Walkers

Contributor

We are a leading international law and professional services firm providing legal, corporate and fiduciary services to global corporations, financial institutions, capital market participants and investment fund managers. With a global presence spanning the Americas, Europe, the Middle East and Asia, we advise on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. With over sixty years of looking at the world through the same commercial lens as our clients means we deliver focused, clear, precise advice to get the deal done. Clients trust us to help them make good business decisions, create commercially sound products and strategies, resolve disputes and cement deals that are profitable. From offices across geographies, we deliver business-critical advice and service in the same time zones as our clients, covering asset management, investment funds, corporate, M&A, dispute resolution, finance, insurance, fintech, private capital and trusts, regulatory and more
Ireland already has substantial protection for whistleblowers under the Protected Disclosures Act 2014 ("Act"). Even so, the scope and applicability of employers' obligations towards whistleblowers
Ireland

Upcoming Whistleblowing Directive

Ireland already has substantial protection for whistleblowers under the Protected Disclosures Act 2014 ("Act"). Even so, the scope and applicability of employers' obligations towards whistleblowers will broaden when Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of persons who report breaches of Union law ("Whistleblowing Directive") is implemented.

Ireland and its fellow EU members must implement the Whistleblowing Directive by 17 December 2021. From then, private employers of 50 or more employees will be required to establish reporting channels (which may be internal or provided by an external third party) within their organisation for workers who wish to report breaches of EU law.

Employers who are subject to EU Law relating to financial services, products, markets, prevention of money laundering and terrorist financing, transport safety and the protection of the environment will be required to establish reporting channels irrespective of the number of employees employed.

The definition of relevant wrongdoings will be broadened to include breaches of financial services regulations, laws relating to products, markets, prevention of money-laundering and terrorist financing, corporate tax laws, product and transport safety, animal health, protection and welfare, environmental protection, public procurement, data protection, consumer protection, radiation, nuclear safety and public health and breaches affecting the financial interests of the European Union and the single market.

The Whistleblowing Directive will also impose strict timeframes within which employers must comply with their obligations. Receipt of a protected disclosure must be acknowledged within seven days. The disclosure itself must be "diligently followed up" within three months.

Feedback must be provided within three months, though it will not be necessary to communicate the outcome of an investigation within three months.

Contributor

We are a leading international law and professional services firm providing legal, corporate and fiduciary services to global corporations, financial institutions, capital market participants and investment fund managers. With a global presence spanning the Americas, Europe, the Middle East and Asia, we advise on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. With over sixty years of looking at the world through the same commercial lens as our clients means we deliver focused, clear, precise advice to get the deal done. Clients trust us to help them make good business decisions, create commercially sound products and strategies, resolve disputes and cement deals that are profitable. From offices across geographies, we deliver business-critical advice and service in the same time zones as our clients, covering asset management, investment funds, corporate, M&A, dispute resolution, finance, insurance, fintech, private capital and trusts, regulatory and more

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