A “whistleblower” generally refers to a person who informs someone in authority or the public about information which he reasonably believes discloses a dishonest, wrongful or illegal activity. Such persons generally will whistleblow to someone in authority who can look into and address the concern.
In this context, any person who whistleblows to the Securities Commission (“SC”) are provided with the protection of confidentiality of their identity and the information they disclose to the SC, under the provisions of the Securities Commission Act 1993.
Certain categories of persons are entitled to additional protection under the Capital Markets and Services Act 2007 (“CMSA”). They are:
|2)||CEO, officer responsible for the preparation and approval of financial statements or financial information, internal auditor or secretary of a listed corporation Section 321 CMSA|
In addition, any person who discloses any improper conduct (i.e. criminal or disciplinary offence) to any enforcement agency as defined under the Whistleblower Protection Act 2010 (“WPA”) may be conferred with whistleblower protection under the WPA.
The WPA does not override the protection provided under the securities laws. All protection provided by the current provisions under the securities laws remain available.