«The Supreme Court closed a potentially devastating loophole in
corporate whistleblower protection,» said Stephen M. Kohn, the group's executive director.
Effective on June 16, 2015, the
Corporate Governance Committee and the Board of Directors of the Company amended and restated the Code to, among other things, reflect the following amendments: (1) added a new
Whistleblower Exception provision under the Confidentiality section; (2) modified the provision regarding Protection of Covered Persons to clarify that such protections apply to any Covered Person who provides information or makes other disclosures that are protected under whistleblower provisions; and (3) updated the policy reference to the Franklin Templeton Investments Social Media Guide
Whistleblower Exception provision under the Confidentiality section; (2) modified the provision regarding
Protection of Covered Persons to clarify that such
protections apply to any Covered Person who provides information or makes other disclosures that are protected under
whistleblower provisions; and (3) updated the policy reference to the Franklin Templeton Investments Social Media Guide
whistleblower provisions; and (3) updated the policy reference to the Franklin Templeton Investments Social Media Guidelines Policy.
Broadly speaking, the changes cover a wide spectrumof white collar crime activity and include changes to: foreign bribery laws; the introduction of deferred prosecution agreements;
whistleblower protection in the private sector; increased powers of the
corporate regulator ASIC to investigate and prosecute breaches of the corporations law; an increase in the available penalties applicable to white collar /
corporate crime, and changes to the anti money laundering laws to regulate bitcoin exchanges.