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Whistleblower Protections: Guide to Confidentiality and Release of Information

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The Australian Securities and Investments Commission (ASIC) is committed to protecting whistleblowers who come forward with reports of misconduct. The Corporations Act provides protection against certain legal actions, including:

  • Criminal prosecution
  • Civil litigation
  • Administrative action

If you are the subject of an action for making a whistleblower disclosure, you may rely on this protection in your defense. However, it’s important to note that this protection does not grant immunity from any misconduct that you were involved in that is revealed in the disclosure.

Protection from Detriment

The Corporations Act also makes it illegal to cause or threaten detriment to a whistleblower because of their report. This includes:

  • Dismissal
  • Harassment
  • Intimidation
  • Damage to property or reputation

If you experience detriment, you may be able to seek compensation through a court. The court may order the person causing the detriment or your employer to compensate you. You can also pursue other remedies, such as:

  • Reinstatement to your original position
  • An injunction to prevent further detrimental conduct

Compensation

Whistleblowers who suffer loss, damage, or injury as a result of making a disclosure are entitled to seek compensation through a court. If you are unsuccessful in your claim for compensation, you are protected from having to pay the other party’s legal costs unless a court finds your claim to be vexatious or you acted unreasonably.

Who is Protected?

The whistleblower protections apply to insiders of companies or organizations who make reports about misconduct that they have observed or been affected by. This includes:

  • Employees
  • Contractors
  • Directors

However, there are some exceptions. Competitors, customers, and clients are not eligible for the whistleblower protections. Instead, they may have other legal rights and remedies available to them.

Where to Find More Information

For more information on the whistleblower protections, please read:

  • RG 103 Confidentiality and Release of Information
  • RG 270 Whistleblower Policies
  • INFO 151 ASIC’s Approach to Enforcement
  • INFO 153 How ASIC Deals with Reports of Misconduct
  • INFO 172 Cooperating with ASIC
  • INFO 239 How ASIC Handles Whistleblower Reports

You can also read the whistleblower provisions of the Corporations Act on the Federal Register of Legislation.

Important Notice

This information sheet is a summary and should not be relied upon as legal advice. You are encouraged to seek your own professional advice to determine how the applicable laws apply to you.