ASIC wins whistleblower case
The Australian Securities and Investments Commission is claiming another landmark legal ruling in its favour — this time in protecting its sources with respect to information obtained by corporate whistleblowers.
The regulator on Friday released a statement relating to a full Federal Court decision relating to a case in which ASIC objected to producing documents relating to a case involving Multiplex Limited (ASIC v P Dawson Nominees Pty Ltd) on the grounds of public interest immunity.
It said that in July, last year, ASIC had been subpoenaed to produce material as part of proceedings issued against Multiplex by P Dawson Nominees on behalf of some Multiplex shareholders.
Commenting on the full Federal Court decision, ASIC chairman Tony D’Aloisio said it was an important one for whistleblowers.
“It affirms the principle that when people come forward to report matters to ASIC in confidence, their confidence will be respected where that is a matter of public interest,” he said. “Otherwise there is a risk that fewer people would report matters to us.
AUTHOR
Mike Taylor
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