Luxembourg Whistleblowing Framework - New Requirements Applicable for Firms

No prerequisite is required.

On May 2nd, 2023, Luxembourg's Parliament passed Bill 7945 to implement the EU Directive 2019/1937 into national law. This legislation goes beyond the initial scope of the Directive and was prompted by several cases of whistleblowers, highlighting the need for balanced protection. Protecting individuals who report legal wrongdoing is a crucial component of any organization's internal control or regulatory supervision.
Whistleblower retaliation is seen as unfair by the public, and mishandling such cases can cause significant harm to a firm's reputation. Studies show that employees are more likely to use a whistleblowing mechanism when an effective non-retaliation policy is embedded in a company's corporate values.
What does the EU Whistleblower Protection law mean for your firm, and what steps should you take to ensure that your firm is compliant with the new law?

The training will offer a detailed overview of the new Whistleblower Protection law, covering:

• Which entities are covered by the law?
• Who qualifies as a whistleblower, and how are they protected under the law?
• What types of wrongdoing are covered by the law?
• What impact could the law have on the firm's governance, and what changes might be necessary?
• Operational impacts of implementing the law
• How to establish an effective whistleblowing system?
• Whistleblower procedures for the CSSF and CAA
• How to handle cases of whistleblowing involving senior management or the Board of Directors?
• Key requirements and principles for an effective whistleblowing policy.

The course will also include interactive workshops to complement the training content.

No exam is foreseen for this training.

At the end of the training, a certificate of attendance will be available either on your client account or on demand to the customer service.