In the United States, the U.S. Sarbanes-Oxley Act (SOX) of 2002 was the first law to make it mandatory for publicly traded companies to report in the United States. In addition, a 2014 Supreme Court decision stipulates that suppliers of listed companies must also have a whistleblowing system. Many central and Latin American countries introduce anti-corruption laws that impose whistleblowing programs. In order to ensure the cooperation, participation and support of workers, the aim and objectives of whistleblower protection should be promoted through effective awareness-raising, communication and training, . B by clearly explaining the rights and obligations of workers with regard to the disclosure of faults. The following approaches represent some of the best practices an employer could apply to raise public awareness of the whistleblowing policy or procedure:[14] Of the five jurisdictions studied, respondents in Hong Kong were the most involved in whistleblowing, with 48% of respondents stating that they were involved in whistleblowing in some way. an effective feedback mechanism, including a whistleblowing and escalation policy, to encourage reports of employee misconduct; An employer who dismisses, threatens or discriminates against such a whistleblower employee may pay a fine of HK$100,000 and/or may have to pay compensation to that employee. There is no specific legislation in Hong Kong that includes a definition of “whistleblowing” and there are no legal restrictions on the types of issues that can be reported through a telephone hotline. This is in contrast to the UK, where legal protection against whistleblowers applies to a clearly defined “protected disclosure”.
In addition, whistleblowing is increasingly becoming an item on the agenda of listed companies, as the Hong Kong Stock Exchange focuses heavily on promoting corporate governance. It is therefore possible that the increased attention paid to regulation in this area will lead to a change in attitude. We can see from this consultation that the HKSE has accepted the value, role and function that a whistleblowing regime can contribute to good corporate governance. While we await further guidance from HKSE on its requirements for the formulation of a whistleblowing framework, Hong Kong issuers should prepare by reviewing all existing reporting mechanisms already in place in their group, reviewing all historical reports and complaints with all areas recommended for redress in order to prioritize the approach, become familiar with the underlying concepts and best practices for the operation of a whistleblowing regime. and the identification of key stakeholders who, once introduced, will form the multidisciplinary group responsible for the management of whistleblowing programmes. This is in stark contrast to the United States, where only 18% of respondents responded that they were involved in whistleblowing. The recent explosive revelation of the rail construction scandal by whistleblowers has not only raised concerns about its potential impact on public safety, but has also raised awareness among employers of the importance of having a whistleblowing framework to protect their employees who report grievances. Tanzania`s Anti-Money Laundering Act contains whistleblowing laws to report suspicions in financial transactions. In South Africa, there are laws that apply to whistleblowing, which are applied differently depending on the type of entity and the type of whistleblower involved. As Hong Kong continues to expand its status as an international financial centre, current legislation aimed at dealing with the practical consequences of whistleblowing is piecemeal. Compared to PIDA`s broad reach, it`s easy to see that Hong Kong`s whistleblower protection laws fall far short of international standards in many ways.
There is uncertainty about the extent of coverage of individuals, the reporting channel is unclear, and there is no definition of the scope of disclosure that would be protected or what constitutes retaliation. Even if employees are willing to come forward, there are still no clear procedures for reporting reprisals or corrective actions that are open to those who have suffered reprisal as a result of a report. As a result, respondents in Hong Kong may have a potentially broader and more flexible understanding of what it means to be a “whistleblower” or file a “whistleblower report.” Given that it has been slower to regulate and regulate whistleblowing in Hong Kong, it is probably fair to say that many Hong Kong employers have only recently taken steps to implement internal whistleblowing policies and procedures. In Morocco, the Data Protection Act defines personal data as any information of any kind that can identify an individual. Before the collection of this data, the consent of the user is required, which complicates the implementation of the denunciation. .
