Haiti’s Financial Sector Under Pressure to Improve Whistleblower Policies
Port-au-Prince, Haiti - A Move Towards Compliance
Haiti’s financial institutions are under increasing pressure to strengthen their whistleblower policies in order to ensure compliance with international regulations. Several major banks and asset management companies have recently implemented or updated their internal reporting systems to encourage employees and external stakeholders to come forward with information about potential wrongdoing or regulatory breaches.
Global Evolution Asset Management Takes the Lead
Comprehensive Whistleblower Policy Introduced
Global Evolution Asset Management A/S, a leading asset manager in Haiti, has introduced a comprehensive whistleblower policy that applies to its branches and subsidiaries. The policy aims to ensure compliance with the Danish Investment Firm Act and the Whistleblower Act, which require financial institutions to have mandatory whistleblower schemes in place.
Key Features of Global Evolution’s Policy
- Employees can report any suspected breaches or violations of financial regulations through an independent reporting system
- External parties with affiliations to the company, such as customers, business partners, and advisors, are encouraged to use this channel to report any serious or repeated infringements of laws, including criminal acts and breaches of data protection laws
Industry Experts Call for Better Protection
Industry experts say that Haiti’s financial sector needs to do more to protect whistleblowers and ensure a safe and confidential reporting process. “Whistleblower policies are crucial in preventing financial crimes and ensuring market integrity,” said one expert. “However, many banks in Haiti still have inadequate systems in place, which can discourage employees from coming forward with information.”
A Warning for the Industry
As the industry continues to evolve, it remains to be seen whether other financial institutions in Haiti will follow Global Evolution’s lead and implement robust whistleblower policies. In the meantime, experts warn that a lack of transparency and accountability could undermine trust in the sector and have far-reaching consequences for investors and the wider economy.
Reporting Potential Wrongdoing at Global Evolution
For those who wish to report potential wrongdoing or regulatory breaches at Global Evolution, the company has established a dedicated reporting system accessible through its website: globalevolution.whistleblowernetwork.net.