S.L. 370.33 Art. 9Reporting of infringements.

(1) The competent authority shall establish, in the applicable Investment Services Rules issued in terms of the Act, effective and reliable mechanisms to encourage the reporting thereto of potential or actual infringements of the provisions of the Act, the regulations and the Rules issued thereunder, including secure communication channels for reporting such infringements.

(2) The mechanisms referred to in sub-regulation (1) shall include at least:

(a) specific procedures for the receipt of reports on infringements and their follow-up;

(b) appropriate protection for employees of investment companies, management companies and depositaries who report infringements committed within those entities, at least against retaliation, discrimination and other types of unfair treatment;

(c) protection of personal data concerning both the person who reports the infringements and the natural person who is allegedly responsible for an infringement, in accordance with the Data Protection Act;

(d) clear rules that ensure that confidentiality is guaranteed in all cases in relation to the person who reports an infringement, unless disclosure is required by the provisions of Maltese legislation in the context of further investigations or subsequent judicial proceedings.

(3) The reporting by employees of investment companies, management companies and depositaries referred in sub-regulation

(1) shall not be considered to be an infringement of any restriction on disclosure of information imposed by contract or by any law, regulation or administrative provision, and shall not subject the person reporting to liability of any kind relating to such reporting.

(4) Management companies, investment companies and depositaries shall have in place appropriate procedures for their employees to report infringements internally through a specific, independent and autonomous channel.