Whistleblowing in Luxembourg
Whistleblowing is a term that was developed in the 1970s in the US and is the process of reporting wrongful, unethical or unlawful behaviour or misconduct internally or externally, i.e. to a third-party organisation.
A company may be seen as being more transparent and trustworthy by having a robust process and protections for people who wish to report misconduct.
It has become an increasingly relevant issue at work in the last few years as it implies labour law issues, data protection issues and regulatory as under CSSF Circular 12/552 banks are required to have appropriate whistleblowing procedures in place…
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On 16 July 2014, Luxembourg adopted the law concerning the compulsory deposit and immobilisation of shares and units in bearer form.
For many years, Luxembourg has positioned itself as a welcoming place for innovative companies in an objective of diversification.