Commentary to Law 2/2023 of 20 February on the protection of persons who report violations of the law and the fight against corruption
13 March 2023
Law 2/2023, which has been enacted to comply with the Spanish legislature’s obligation to transpose Directive 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law (“Whistleblowing Directive”), enters into force today and aims to strengthen compliance culture in public and private entities by protecting whistleblowers who report regulatory breaches and criminal offences committed in a professional context.
Among its various other important provisions, this new piece of legislation obliges public and private entities with 50 or more employees to implement internal reporting channels, which must satisfy minimum requirements and guarantees. Sanctions for failure to comply with the obligations set out in this new law include the imposition of fines of up to EUR 1 million for entities and EUR 300,000 for individuals, among other potential penalties (including, for instance, a ban on contracting with the public sector or obtaining subsidies or tax benefits).
A team of lawyers from Uría Menéndez has prepared this document addressing the most notable aspects of Law 2/2023, paying particularly close attention to obligations of private companies in relation to the implementation of internal information systems.