W&W Asset Management Ireland DAC 
Whistleblowing Policy

1. Introduction

 

The Protected Disclosures Act 2014, the Protected Disclosures (Amendment) Act 2022 and the Central Bank (Supervision and Enforcement) Act 2013. (“the Acts”) provides a statutory framework within which workers can raise concerns regarding potential wrongdoing that has come to their attention in the workplace. The Acts provides workers who contend that they have been penalised for making a report of possible wrongdoing with access to significant protections and scope for securing redress.

 

W&W Asset Management Ireland DAC (“WWAMI” or the “Firm”) is committed to fostering an appropriate environment for addressing concerns relating to potential wrongdoing in the workplace and to providing the necessary support for employees who raise concerns in good faith.

 

The Firm will investigate genuine and reasonable concerns expressed by its workers relating to perceived wrongdoing within the Firm and will ensure that workers are not discriminated against or suffer detriment as a result of raising a concern.

 

For the purposes of the policy, all persons protected under the acts will be referred to as workers.

This includes former employees, current employees, external consultants, contractors and agency personnel, trainees, volunteers, board members, shareholders and job applicants.

 

​2. Objective & Scope

 

This Policy lays down WWAMI’s policy and procedure for dealing with genuine concerns by workers who have a reasonable belief that wrongdoing has occurred and/or is ongoing.  

 

A protected disclosure is a disclosure of relevant information which in the reasonable belief of the worker tends to show one or more relevant wrongdoings. The wrongdoing must come to the worker’s attention in connection with their employment and should be disclosed as outlined in this policy. If a worker makes a protected disclosure they should not be treated differently or unfairly and their job should not be at risk because of this.

 

The act provides robust statutory protections in relation to such disclosures.  However, where persons provide anonymous reports other than “workers”, they fall under the Central Bank (Supervision and Enforcement) Act 2013. In those circumstances, an anonymous report is not a “protected disclosure” due to the provisions of the 2013 Act.

 

The Policy aims to:

 

1. Encourage employees/shareholders/volunteers to feel confident in raising concerns and to question and act upon such concerns.

2. Provide avenues for employees to raise those concerns and receive feedback.

3. Ensure that employees receive a response to their concerns; and

4. Reassure employees that they will be protected from reprisals, subsequent discrimination, victimisation, or disadvantage if they had a reasonable belief that they made the disclosure in good faith.

 

3. Definitions

 

Relevant Information

Relevant information is defined in the act as:

• In the reasonable belief of the worker, it tends to show one or more relevant wrongdoings, and

• It came to the attention of the worker in a work-related context.

 

It is important that the disclosure is made:

• In good faith

• In the reasonable belief of the individual making the disclosure that it tends to show malpractice, impropriety, or any breach of company policy and that they make the disclosure to an appropriate person. It is important to note that no protection from internal disciplinary procedures is offered to those who choose not to use the procedure or who breach company policy.

 

Wrongdoings  

The following matters are examples of ‘wrongdoings’ for the purposes of the Whistleblowing Policy:

 

1. That an offence has been, is being or is likely to be committed.

2. That a person is failing to comply with a legal obligation.

3. That a employee member has breached or is continuing to breach the Code of Conduct contained in the Employee Handbook (the “Code”) or the employee rules referenced by the Code.

4. That a miscarriage of justice has occurred.

5. That the health and safety of an individual is being endangered.

6. That the environment is being damaged.

7. That an unlawful or improper use of public funds has occurred.

8. That an act or omission on behalf of a public body (including the Central Bank) is oppressive, discriminatory, grossly negligent or constitutes gross mismanagement.

9. That information tending to show any matter relating to the above is / was concealed or destroyed. This list is not exhaustive; in addition to the matters listed (above), there will be many other areas of concern which may be raised in line with this policy.

 

The Whistleblowing Policy does not apply to raising grievances about an employee’s personal situation and as such does not replace existing procedures for personal differences or conflicts.

 

4. Protection afforded under the Acts to the disclosure  

 

The Firm will not tolerate any harassment or victimisation (including informal pressures) of a discloser and will take appropriate action to protect the discloser when they raise a concern in good faith. Any evidence that an individual or group has created difficulties for the discloser due to them raising a genuine concern, or, that an attempt has been made to cover up wrongdoing will be treated very seriously.  

 

Under the Protected Disclosures (Amendment) Act 2022, it is a criminal offence to penalise, retaliate against, or otherwise hinder a worker for making a protected disclosure. Convictions may result in fines of up to €250,000 and/or imprisonment for up to two years. In cases alleging penalisation, the Act introduces a presumption that the victimisation occurred unless the employer can prove otherwise.

If a worker makes an allegation in good faith, but the allegation is not confirmed by an investigation, no action will be taken against them. It is important that all workers understand that it is acceptable for them to raise a concern even in cases where a genuine concern turns out to be mistaken or misguided. If however a worker raises a matter frivolously, maliciously (i.e., the employee knows the matter to be untrue) or for personal gain, disciplinary action may be taken against them.

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5. How to Raise a Concern

 

Whom the Report should be made to

A worker who is concerned about a perceived wrongdoing should raise their concern in the first instance with the Managing Director, Compliance or the Head of the W&W Group Compliance. The earlier a concern is raised, the easier it is to take action.

 

In certain cases, it may be more appropriate to raise concerns with the Firm’s Chairman or the W&W Group Compliance Function via the group compliance whistleblowing mailbox (hinweis@ww-ag.com).

 

Employees can also submit anonymous disclosures to the Central Bank relating to breaches of financial services legislation by their employer and such disclosures can be treated as a protected disclosure under the 2014 Act.

 

How should a report be made

Concerns can be raised verbally or in writing. Where a concern is raised verbally the following steps are to be taken by the employee raising the concern to ensure that the concern raised is acknowledged by the recipient as received in the manner intended by the employee.

 

These steps are to ensure that the recipient is clear that what is intended as a disclosure is not construed by the recipient as a passing or casual comment:

 

   a)   The employee raising the concern sends a written communication to the recipient. The written communication confirms:

 

          (i)    the fact that a disclosure was made (details of the disclosure need not be included, just the fact that a disclosure has been made);

         (ii)    that a written acknowledgement from the recipient to the employee is required.

 

   b)   The recipient responds with a written communication acknowledging receipt of the disclosure. For the purposes of passing the information received to those responsible for investigating the concerns, the recipient of the concern may record the employee’s concern in writing and should seek that the employee raising the concerns confirm that the details are accurately recorded.

 

   c)    Once a report of suspected wrongdoing is made to a recipient that person should pass that information promptly to the Managing Director/ Compliance Function / Chairman as appropriate who will:

 

    (i)    Record the concern and acknowledge report received within seven days;

   (ii)    Make an assessment as to further action, including informing the Board;

  (iii)    Refer the matter for investigation, if appropriate;

  (iv)    The provision of feedback to the reporting person on actions taken or envisaged to be taken in follow-up within 3 months and, if applicable, a statement of policy as regards the conditions, if any, under which anonymous reports will be followed-up;

   (v)    On the conclusion of the investigation, inform the individual who raised the concern of the outcome of any investigation, if appropriate and possible.

 

What Information Should be Provided

At a minimum, reports should include the following details:

• The reporting person’s name, position in the organisation, place of work and contact details;

• The date or time period of the alleged wrongdoing (if known) or the date the alleged wrongdoing commenced or was identified;

• Whether or not the alleged wrongdoing is still ongoing;

• Whether the alleged wrongdoing has already been disclosed to any member of management and if so when and to what effect;

• The details of the alleged wrongdoing and any supporting information;

• The name of the person(s) (if known or applicable) allegedly involved in the alleged wrongdoing;

• Any other relevant information.

• Any alleged penalisation they have incurred in relation to the reporting of the concern.

 

Any concern raised by an employee will be treated seriously, assessed on its merits and appropriately investigated. All efforts will be made to give feedback to the individual on the outcome of any investigation, subject to legal or investigatory limits. This process will be agreed on a case-by-case basis as issues such as confidentiality may need to be taken into account.

 

6. Confidentiality and Anonymous Reporting

 

All workers involved in the investigation will be required to maintain confidentiality in relation to the concerns being raised. Where a worker raising a concern has asked the Firm not to disclose their identity, the Firm will not do so unless required by law. Workers should be aware that there may be times when the Firm is unable to resolve a concern without revealing the employee’s identity; for example, where the workers’ personal evidence is essential.

 

If so, it will be discussed with the worker whether and how the matter can best proceed. It should be noted that where a worker seeks anonymity, it is much more difficult to fully investigate their concerns, and the Firm will not be in a position to provide feedback to them.

 

7. Records to be Maintained by the Firm

 

The process followed and any decisions made during the investigation will be appropriately documented and recorded. The Firm will ensure access to these records are restricted to only those who require access and will be held in a secure and confidential environment. Records of all concerns and the outcome of an assessment and subsequent investigation will be maintained for a maximum of six years after the closure of the case.

 

8. Review of this Policy

 

The Whistleblowing Policy will be reviewed on an annual basis by Compliance and presented to the Board for approval, if any material changes arise.

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