Madrid, July 5, 2023.
According to a study carried out by the EQS Group, half of the complaints were linked to conflicts between staff, 15% to violations of social norms and human rights and 13% to corruption. 41% of companies registered less than 10 complaints in the last 12 months. However, 58% of the companies state that they have made changes to adapt to the Informant Protection Law
Last February, the Informant Protection Law, also known as the Whistleblowing Law, was approved in Spain. This law obliges companies with 50 or more workers to have a whistleblower channel through which they can communicate regulatory violations, and that can be done anonymously, protecting the whistleblower and avoiding possible reprisals against him. In this sense, on June 13, the deadline for companies with more than 250 employees, as well as all public entities (except municipalities with less than 10,000 inhabitants), to have an internal information system closed. A recent study carried out by the EQS Group, the European market leader in compliance tools, points out that among the Spanish companies that have already set up this whistleblowing channel, six out of ten registered at least one complaint in the last 12 months, although 41 % received less than 10 complaints. The reasons are diverse, but always related to coexistence, economic transparency or respect for common values such as environmental protection. Thus, according to this same study, half of the complaints in Spanish companies were linked to conflicts between staff and that required the intervention of human resources, 15% with violations of social norms and human rights and 13% with corruption. 21% of Spanish companies still do not have a complaints channel According to the same EQS Group study, 79% of companies in the country already have a complaints channel. However, Spain is 6 points below the European average (85%) and other countries such as France (95%) or Germany (82%). The main motivation of these companies that have implemented means to report infringements has been compliance with the law (78%) followed by interest in developing a more transparent corporate culture or environment (66%). In addition, 84% of these they have anonymous channels to report violations, a fact that reaffirms the objective of the regulation and the policies chosen by these companies: workers need secure means to report violations of regulations, so that they do not feel that they are putting their job at risk or that any colleague or superior can retaliate against them. However, in most cases, employees are not the only ones with access to these reporting platforms, and 79% of companies also make them available to suppliers, customers, partners and shareholders, thus guaranteeing greater transparency in the company’s relations with its stakeholders. 58% of companies have made changes to their structure to adapt to the Law. In Spain, the fact of implementing whistleblowing channels has been widely adopted by companies, with 75% of them having established it for more than a year, in anticipation of the Spanish Law that arises as a result of the EU Directive 2019/1937 for the Protection of Whistleblowers, promoted in 2019. However , this anticipation and commitment on the part of Spanish companies becomes more evident with the number of companies that have implemented this whistleblowing channel for more than three years, 50% of them being. At the same time, the survey shows that 58% of the companies surveyed have made changes to their structure and internal policies to adequately adapt to the Informant Protection Law, thus demonstrating a continuous commitment to promoting a reporting culture and the protection of whistleblowers within the business environment.”Although companies still have to make an effort to comply with the requirements of the Law on the Protection of Whistleblowers, the data on the adoption of a whistleblower channel is positive and presents a business landscape committed to transparency and the protection of common ethical values, both at a European level and in Spain”, says Murray Grainger, Country Manager of EQS Group in Spain. About the survey The Whistleblowing 2023 Survey was conducted among European compliance professionals between March and April 2023, with the aim of understanding how companies are dealing with the requirements of the new whistleblower protection laws coming into force across Europe and how prepared they are to overcome future compliance challenges. About EQS Group : EQS Group is a leading international provider of Regulatory Technology (RegTech) solutions, specializing in the areas of Corporate Compliance, Investor Relations and ESG. Thousands of companies around the world use EQS Group products to build trust, comply with reliably and securely with complex regulatory requirements, minimizing risks and transparently reporting on business performance and its impact on society and the environment.
Contact Contact name: María Ortega Contact description: EQS Group Spain Contact telephone number: 34 919546267
