Whistleblowing – A Safe Alternative To Silence

On 1 January 2017 the Financial Services Rule Book 2016 (the "Rule Book") comes into operation. With this will be the requirement on all Isle of Man licence holders to establish, implement and maintain an effective whistleblowing policy to encourage the reporting of any improper or unlawful behaviour.

Protected Disclosures in Employment

Under Part IV of the Employment Act 2006 ("EA 2006"), employees and workers are given a number of rights and protections if they decide to 'blow the whistle'. This means that employees and workers who raise legitimate concerns about malpractice in accordance with the EA 2006 and who, as a result, find themselves subject to detriment from their employer can claim compensation for unfair dismissal. Compensation claimed in these circumstances can exceed the statutory limit of £56,000.