On February 20, Congress approved the Informant Protection Law, which regulates the protection of people who report on regulatory violations. Once it enters into force, the law establishes that public and private entities must establish a whistleblowing channel in a maximum term of three months, which will expire before mid-June. To address this, GlobalSuite Solutions has developed a whistleblowing channel platform that quickly and easily meets this need. This is GlobalSuite. “Complaint channels are tools that must be simple and accessible. This is how GlobalSuite works, which allows the communication of irregularities, breaches of the code of ethics and legal infractions, as well as establishing an adequate treatment of information in a legal and secure way”, explains Antonio Quevedo, CEO of GlobalSuite Solutions.
Which companies are required to have a complaints channel
The regulation is mandatory for: Companies with 50 or more workers Administrations and public sector entities Companies of any size that operate in the financial market Political parties, unions, business organizations and created foundations, provided they receive or manage public funds
Maximum term for its implementation
The maximum period for the establishment of internal information systems, from its entry into force, on March 13, is:100 days. Administrations, agencies, companies with more than 249 workers and other entities required to have an internal information systemDecember 1, 2023. Legal entities in the private sector with 249 workers or less, as well as municipalities with less than 10,000 inhabitants
Companies have 100 days to adapt to the new Informant Protection Law
Sanctions for not complying with the Law
In accordance with the law, a system of infractions and sanctions is contemplated that considers failure to comply with the obligation as a very serious offense. In the event this occurs, fines ranging between 600,001 euros and 1,000,000 euros are established for legal entities. To deal with this, GlobalSuite Solutions has developed a whistleblowing channel platform that quickly meets this need. and easy. This is GlobalSuite, a software that allows one or more whistleblower channels to be implemented and their management optimized in line with all the requirements and functionalities required by the Law: Provide accessibility and ease of use for whistleblowers Anonymity and confidentiality guaranteed Protection against possible retaliation against whistleblowers Possibility of sending complaints securely and encrypted Ability to receive complaints in different languages Follow-up and recording of complaints received Notification of receipt and follow-up of the complaint to the complainant Facilitate direct and confidential communication between the complainant and the person in charge of the channel complaintsPosibi Ability to carry out an internal investigation based on the complaintRecord and documentation of the measures taken to resolve the complaints receivedGuarantee that the complaints channel will not be used for fraudulent or other purposes