Whistleblowing, along with the impact that it can have on organisations, has loomed large in both the UK and international press in recent months. Cambridge Analytica, which has been embroiled in a scandal over its collection and use of data, including whistleblower claims that harvested Facebook data was utilised in the 2016 US presidential elections, announced on 2 May 2018 that it would commence with bankruptcy proceedings in the US and insolvency proceedings in the UK. While the company denies any unethical or unlawful wrongdoing, it stated that the ensuing media coverage had led to a reduction in clients and suppliers to the point that it was no longer viable to continue operating. Meanwhile, on 11 May 2018, the UK’s Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) fined James Staley, Chief Executive Officer at Barclays Group, £642,430 for the way in which he responded to a report made in an anonymous letter in 2016. In addition to the fine, Barclays is now required to report its handling of whistleblowing to regulators on an annual basis, including personal attestations from senior managers who are responsible for the relevant whistleblowing systems and controls.
This is an issue that cuts across countries, sectors, and organisation type. Against the current landscape of increasing scrutiny around whistleblowing, LSX (formerly known asBiotech and Money), in partnership with EQS Group, presented the webinar: Why whistleblowing should be a boardroom issue in life sciences. The 45-minute webinar, which is now available to listen to on demand, was streamed live on 9 May 2018. The webinar featured expert speakers: Viviane Joynes, Managing Director at EQS Group; Jane Mitchell, Director at JL&M Ltd and Karian and Box Ltd; and Hannah Netherton, Senior Associate in the employment team at international law firm CMS.
Download the white paper, How to manage whistleblowing in life sciences, to discover the key points highlighted over the course of the expert discussion:
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