Which statement best describes a protected whistleblower disclosure under financial services legislation?

• A. It can be anonymous if the disclosure reveals fraud
• B. It must be made in good faith, non-anonymous, with reasonable grounds
• C. It can be made publicly
• D. It requires the offender to admit wrongdoing

Answer: (B)

The key idea is that a protected whistleblower disclosure is one made with honest intent and with some factual basis, and it should be reported to the appropriate authority rather than made publicly. Good faith means you report because you genuinely believe misconduct has occurred, not to pursue a personal vendetta or for malicious purposes. Reasonable grounds means there is some information or evidence to support the concern, even if it hasn’t been proven yet. Being non-anonymous supports accountability and allows the investigating body to contact you if needed, while still providing protection from retaliation for making the report. Public disclosures or demanding that the offender admit wrongdoing aren’t the defining features of protection—the protection focuses on the credibility and process of the disclosure itself, not on the offender’s admission.