On 7 October 2019, the Council of Ministers of the EU adopted a new whistleblower directive (the “EU Whistleblower Directive”), which must be implemented in the EU member states no later than 17 December 2021.
The Directive obliges companies (with more than 50 employees) to introduce whistleblower schemes, which must be available to all employees in the company. With the new Whistleblower Directive, it is also possible that the scheme also influences external partners, such as clients or consultants.
The scheme can be established in various ways, including via an online platform, such as Vault Platform, which is expected to be the most common way of implementing the requirement for a whistleblower scheme.
The Directive sets up requirements for the whistleblower scheme to be put in place. Some of these are mandatory and must – as a minimum – be implemented in the specific jurisdiction and thus in the system used.
This white paper has been prepared by Vault Platform and the law firm Bird & Bird.
The aim is to outline how Vault Platform enables public and private companies to meet these key regulatory requirements in the Whistleblower Directive.
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