Whistleblowing and Russell Investments
The Russell Investments Australia entities [Total Risk Management Pty Ltd; Russell Investment Management Ltd; Russell Investments Employee Benefits Pty Ltd; Russell Investments Financial Solutions Pty Ltd; Russell Investments Group Pty Ltd and Russell Investments Australia Holdco Pty Limited] are subject to the whistleblowing laws in the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019.
The whistleblowing laws require us to have Whistleblowing Policies in place to give protection to eligible whistleblowers who make a report based on having reasonable grounds to suspect misconduct or impropriety or breach of certain legislation by a Russell Investments entity.
The following conduct / legislation is in scope:
- the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019;
- the ASIC Act;
- the Banking Act 1959;
- the Financial Sector (Collection of Data) Act 2001;
- the Insurance Act 1973;
- the Life Insurance Act 1995;
- the National Consumer Credit Protection Act 2009;
- the Superannuation Industry (Supervision) Act 1993;
- misconduct, or an improper state of affairs or circumstances in relation to a Russell Investments entity or a related body corporate;
- conduct that is an offence under Commonwealth law that is punishable by imprisonment for a period of 12 months or more;
- conduct that represents a danger to the public or the financial system.
Eligible whistleblowers are current and former officers, employees, service providers, associates or contractors of a Russell Investments entity and also those people’s spouses, dependents, and other relatives.
For superannuation entities, an eligible whistleblower also specifically includes its custodian, or investment manager, or an officer or employee of the custodian, investment manager and employees of companies that supplies services or goods to the custodian, investment manager or services to TRM.
Russell Investments has a mechanism in place for receiving such reports or alternatively reports can be made to ASIC, APRA or a prescribed Commonwealth Authority. Where a report is made to Russell Investments, it is to a designated and very limited group of people and your identity will be kept confidential at all times.
If you believe you are an eligible whistleblower for a Russell Investments entity and wish to make a report about the matters detailed above, then please click here for relevant information.