Facio & Cañas - Holistic Approach to Ethical Compliance: Possible Implications for Your Business

Since 2002, the popularity of whistleblowing channels has increased significantly, influenced by the Sarbanes-Oxley Act, which required U.S. companies to establish reporting channels for whistleblowing. In the same vein, in Europe, Directive 2019/1937 urges Member States to implement effective and secure reporting channels, aligning with the ISO standard and the Whistleblowing Directive. In Spain, since December 2021, large companies must have effective channels, extending to medium-sized organizations in December 2023.

In support of the above and seeking to adjust national regulations in this regard, on February 8, 2024, the Law on the Promotion of Complaints and Protection of Whistleblowers and Witnesses of Acts of Corruption against Labor Retaliation" No. 10437 was published in the Official Gazette, which further reinforces measures to safeguard those who report on alleged corrupt practices. guaranteeing them an environment where the denunciation of acts of corruption will not result in labor retaliation.

Click here to read the full legal alert.

For more information, contact the authors Catalina Moya and Javier Guerrero