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Solid Communication, Employee Trust Key to a Strong Whistleblower Program
By Matt Squire
printSetting up an effective whistleblower program, which allows employees to anonymously report company misconduct or possible criminal activity, requires more effort than just establishing a toll-free hotline. For any such program to be more than simple window dressing, employees have to believe that any action they take will produce results and that they will be protected from retaliation. That means financial institutions have to build a program that includes strong lines of communication and robust follow-up procedures, compliance professionals say. The 2002 Sarbanes-Oxley Act requires publicly traded companies to establish programs for handling confidential employee complaints about accounting, internal controls...
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