Important Measures
The FSC provided information about setting up of the whistle-blowing systems for financial institutions
2018-01-11
Establishment of financial holding companies and banks require approval of the competent authority. According to the FSC, it is necessary to set up whistle-blowing guideline for financial holding companies and banks because illegalities of their employees may impact businesses, other employees and interest of the public. The FSC will actively incorporate the whistle-blowing system into the Implementation Rules of Internal Audit and Internal Control System of Financial Holding Companies and Banking Industries. In the future, the FSC will supervise and direct financial institutions to establish a protection mechanism for whistle-blowers pursuant to related regulations and continuously monitor the implementation.
The FSC further stated that the employee management policy of a financial institution shall comply with related regulations and corporate governance guidelines. A financial institution is required to introduce a mechanism to protect employees from being harmed due to whistle-blowing actions.
The FSC further stated that the employee management policy of a financial institution shall comply with related regulations and corporate governance guidelines. A financial institution is required to introduce a mechanism to protect employees from being harmed due to whistle-blowing actions.
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- Update: 2018-01-11