FAAA submission on whistleblower protections
31
Jul
2026
From FAAA - Financial Advice Association Australia
The FAAA welcomes the opportunity to provide the following feedback to Treasury’s review of the tax
and corporate whistleblowing regimes.
In its submission to Treasury on tax and corporate whistleblowing, the FAAA has put forward four key recommendations:
- The corporate and tax whistleblower regimes should recognise the role of AUSTRAC and make clear how the AML/CTF regime interacts with the whistleblowing requirements and protections
- Individuals and entities who disclose information in good faith to professional bodies should have access to whistleblower protections.
- Professional bodies who receive information from whistleblowers in good faith and pass the information onto a relevant legal authority or government agency, should be afforded third party whistleblower protection.
- The whistleblower regimes should permit regulators and government agencies to share information with TPB recognised professional bodies and ASIC prescribed associations.
It points out:
“The fact that professional bodies are not currently identified within the whistleblowing laws creates a loophole in the regimes that could leave disclosers unknowingly unprotected and exposed to potential detriment. Financial advisers and other financial advice staff who disclose information about suspected misconduct to their professional body might assume the whistleblower protections would apply.”
