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Institution Takes Swift Action to Address Misconduct and Breach

A recent report has highlighted the proactive steps taken by a financial institution to address suspected misconduct and breach. The institution, in collaboration with its governing body, promptly referred the pseudonymized whistleblower’s report to a competent authority for clear identification and remediation of the breach.

Proactive Measures

To ensure the complete elimination of the suspected breach, the institution provided an anonymous reporting option for whistleblowers who wished to remain unidentified. This allowed them to submit their reports without fear of retribution or retaliation.

The institution has also developed a whistleblowing reporting template, which is available as an annex to its guidelines. The template provides a structured format for reporting misconduct and illegal practices at the financial institution through its whistle-blowing platform maintained by the governing body.

Employee Training and Awareness

Regular employee training and informative materials are used to keep staff informed about whistleblowing possibilities and the available tools for reporting suspected misconduct to the governing body.

Policy Enforcement

The institution emphasizes that it does not tolerate bad faith conduct and breach of whistleblowing principles. In cases where a financial institution violates the policy, the governing body’s council will act according to its by-laws.

Commitment to Transparency and Accountability

By taking proactive measures to address suspected misconduct and breach, the institution demonstrates its commitment to maintaining a culture of transparency and accountability. This helps to strengthen its reputation and reliability among stakeholders, ultimately benefiting the financial sector as a whole.

Key Takeaways:

• The institution takes swift action to address suspected misconduct and breach.
• Whistleblowers have the option to remain anonymous if they wish.
• A structured whistleblowing reporting template is available for employees to report suspected misconduct.
• Regular employee training and informative materials keep staff informed about whistleblowing possibilities.
• The institution does not tolerate bad faith conduct and breach of whistleblowing principles.

Contact Information:

For further information or questions, please contact the management board of Finance Latvia Association via whistle@financelatvia.eu.