Is my Company’s Whistleblower Channel compliant with the Law?
31/10/2024
Is my Company’s Whistleblower Channel compliant with the Law?
Flash informativos
As of today, the 31st of October, Royal Decree 1101/2024 comes into force, thereby approving the Statute on the Independent Authority on the Protection of Whistleblowers. The Authority, linked for organisational and budgetary purposes to the Ministry of the Presidency, Justice and Court Relations, features the following aims, amongst others:
- Vouching that the companies have put in place an Internal Information System (SII) that adapts to the applicable legal demands.
- Sanctioning whichever firms do not offer an SII or fail to meet its terms properly, with economic fines of a significant amount:
- Up to 100,000€ for minor breaches.
- Between 100,001€ and 600,000€ for serious breaches.
- Between 600,001€ and 1,000,000€ for very serious breaches (not having implemented an SII gives grounds for serious breach).
We will share all the details of this Authority’s functions, while stating which companies are obliged to implant an internal information system, plus which requirements they must adhere to.
