The law protecting whistleblowers requires companies with 50 or more workers to have an internal whistleblowing system in place and sets out fines of up to 1,000,000. We will be looking at this from various different standpoints: labor law, data protection, criminal law, corporate governance and anti-money laundering and counter-terrorist financing.
Before June 2023, companies with over 250 workers must have a whistleblowing system in place through which to report breaches as well as a management and protection system for whistleblowers, to prevent retaliation against them. Companies with between 50 to 249 workers have until December 1, 2023. This is established in the new Law 2/2023 of February 20, 2023, on the protection of people who report breaches of the law and on combating corruption, known as the ‘Whistleblowing Law’.
The new requirements have an impact from all angles of business law. In this article we will address the key aspects of the law from a labor law, data protection, criminal law, corporate governance, anti-money laundering and counter-terrorist financing standpoint.
Labor and employment
The content, purpose and approach of the Whistleblowing Law is closely linked to labor and employment legislation.
For example, the law requires that the whistleblowing system be implemented after consultation with the workers’ statutory representatives.
The law also provides that the whistleblowing system must include the different protocols that the company may have in...
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