There's a stockbroking house whose CEO has made a fortune from alleged insider trading and other forms of market manipulation at the expense of clients. He has allegedly salted tens of millions of dollars of the illegal proceeds into Swiss accounts to avoid detection.If our legal system was different, the scandal would have been exposed and the CEO would have been called to account.
I can't tell you who he is or identify the companies involved because a whistleblower who told me about the story pulled out of going public in late 2016. Personal threats, pressure from their family not to go public and a failure of our laws to protect whistleblowers culminated in a settlement in return for a gag order. The corporate regulator was handed a file more than two years ago.If our legal system were different, the scandal would have been exposed and the regulator might then have sprung into action. The CEO would have been called to account.
There are many other stories that should be told but remain hidden due to our weak whistleblowing laws, outdated defamation laws, abuse of suppression orders and a growing practice by government departments to reject freedom-of-information requests or redact documents on the basis they are not in the public interest.
These restrictions, along with the recent raids on media outlets, contributed to us slipping two places to 21 in the World Press Freedom Index.
An excellent precis of our shortcomings around our right to know AND the need to force govt to protect whistleblowers. This sits at the very core of our society and to allow this govt to walk all over such critical freedoms is tantamount to treason.
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