Europe: EU / UK regulatory roundup
A round up of recent regulatory developments in the EU and UK.
The widespread introduction of legislation protecting the actions of ‘whistleblowers’, and increased public expectations of global corporate accountability, mean that businesses need to adopt a proactive approach to managing allegations or disclosures that point to misconduct within their organisation. Not understanding the law surrounding whistleblowing can be costly for businesses in terms of potential claims as well as damage to reputation.
Whistleblowing is a high priority on international and national anti-corruption agendas, and is continuing to grow in importance, highlighting whistleblowing’s relevance as a corporate governance and regulatory tool.
We have developed an online interactive guide to ‘Whistleblowing laws’ as part of our NRF Institute, which provides a practical overview of the legislation applicable to whistleblowing in 50 jurisdictions around the world. The guide is relevant to both the public and private sectors and focuses on corporate and employment compliance issues which typically arise in whistleblowing scenarios.
You can use the guide to:
For advice on Whistleblowing please speak to your usual Norton Rose Fulbright contact or your local employment and labor team.
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On July 16, 2020, the Court of Justice of the European Union (CJEU) published its decision in the landmark case Data Protection Commissioner v Facebook Ireland Ltd, Maximilian Schrems and intervening parties, Case C-311/18 (known as the Schrems II case).
On July 7, 2020, the Commission de Surveillance du Secteur Financier (CSSF) issued an FAQ document on Circular 02/77 concerning the protection of investors in case of NAV calculation errors and the correction of the consequences resulting from non-compliance with the investment rules applicable to undertakings for collective investment (the FAQ).