Source: pwc.lu
The Bill to transpose the EU Directive on the protection of whistleblowers into national law was adopted by Parliament.
The second vote will take place soon and then the law will be published in the Luxembourg Official Journal (Memorial). It will come into effect the 3rd day after publication.
The new law will require public and private entities to adopt internal reporting mechanisms. Private sector entities with less than 50 employees are exempt. Nevertheless, financial institutions should adopt internal reporting mechanisms independently of the number of employees. Failure to comply can result in a fine of up to 250.000 euros.
The whistleblower can be an employee in the public and private sectors. Information should be obtained in a work-based context.