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Legal

- September 16, 2021 -

Prior public consultation on the transposition of Directive (EU) 2020/1828 of the European Parliament and of the Council of 25 November 2020 on representative actions for the protection of the collective interests of consumers and repealing Directive 2009/22/EC

This regulation transposes Directive (EU) 2020/1828, which aims to ensure the existence of at least one process for the defense of consumers' interests in their civil procedural systems through qualified entities that represent consumers and that can bring actions for injunctions and damages, when there is an infringement by an entrepreneur of the provisions of Union law.

The Directive does not impose full harmonization, as it allows States to go further in the measures to be adopted. Moreover, the Directive should not replace existing national procedural mechanisms to protect the collective or individual interests of consumers.

It also requires the recognition of legal standing in all national systems of qualified entities for the purposes of cross-border actions regardless of the State of designation.

The following aspects of the Directive can also be highlighted:

  • The existence of agile mechanisms in relation to injunctions and, if necessary, precautionary measures, there will be an expedited process.
  • As a general rule, the represented consumer will not be charged for the costs of the proceedings.
  • The requirement to show evidence to the employer.
  • The possibility of providing as evidence, in compensation action proceedings, the final resolutions declaring the employer's infringement.
  • Suspension or interruption of the statute of limitations with the filing of an action for injunctive relief or reparation.

The prior public consultation will be open until September 25, 2021.

We offer regulatory advisory services in a business environment in which it is essential to have as much information as possible to support decision making. From the Regulation & Public Policy Group we are able to help manage business regulatory risk through our regulatory monitoring and regulatory intelligence services.

Contact us if you have any questions.

- July 9, 2021 -

On October 1, 2021, the regulations establishing penalties for non-compliance with Law 10/2021, of July 9, 2021, on telecommuting came into force.

The penalties for infringing this rule can range from 70 to 225,000 euros and are associated with breaches of the content of the Telework Agreement that must be included in the annex to the employment contract signed by the company and the employee, which regulates the way in which the telecommuting modality will be carried out.

Law 10/2021, of July 9, 21, on telecommuting, sets forth the minimum contents that must be included in such agreement, as well as the means to be used and the expenses generated by telecommuting and the telecommuting schedule and calendar.

If the necessary means for teleworking were not provided, depending on the seriousness of the offense, the penalty may be minor, serious or very serious:

  • Minor with fines from 70 to 150 euros in its minimum degree; in its medium degree, from 151 to 370 euros; and in its maximum degree, from 371 to 750 euros.
  • Serious offences with a minimum fine of 751 to 1,500 euros, a medium fine of 1,501 to 3,750 euros, and a maximum fine of 3,751 to 7,500 euros.
  • The very serious ones with a fine in its minimum degree of 7,501 to 30,000 euros; in its medium degree of 30,001 to 120,005 euros; and in its maximum degree of 120,006 euros to 225,018 euros.

In order to avoid these sanctions, Article 7 of Law 10/2021, of July 9, on telecommuting, lists the mandatory points that the Telework Agreement must have and that must be respected during the employment relationship. These are:

a. Inventory of the means, equipment and tools required for the development of the concerted remote work, including consumables and movable elements, as well as the useful life or maximum period for their renewal.

b) A list of the expenses that the employee may incur due to the fact of rendering remote services, as well as the form of quantification of the compensation that the company is obliged to pay and the time and manner of payment, which shall correspond, if any, to the provision set forth in the applicable collective bargaining agreement or agreement.

c) Work schedule of the employee and within it, if applicable, availability rules.

d) Percentage and distribution between face-to-face work and distance work, if applicable.

e) Work center of the company to which the telecommuting worker is assigned and where, if applicable, he/she will carry out the part of the working day in person.

f) Place of telecommuting chosen by the employee for the development of telecommuting.

g) Duration of notice periods for the exercise of reversibility situations, if applicable.

h) Means of corporate control of the activity.

i) Procedure to be followed in the event of technical difficulties that prevent the normal development of the remote work.

j) Instructions issued by the company, with the participation of the workers' legal representatives, on data protection matters, specifically applicable to telecommuting.

k) Instructions issued by the company, after informing the legal representatives of the workers, on information security, specifically applicable to remote work.

l) Duration of the telecommuting agreement.

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PKF Attest is a member of PKF Global, the network of member firms of PKF International Limited, each of which is a separate and independent legal entity and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm(s). "PKF" and the PKF logo are registered trademarks used by PKF International Limited and member firms of the PKF Global Network. They may not be used by anyone other than a duly licensed member firm of the Network.

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Wafi Saleh

 

Wafi has over 20 years of corporate and investment banking experience, with most of his career developed at Banco Santander and Banesto.

Prior to joining PKF Attest CM, he occupied various positions at Santander Global Banking & Markets division (SGBM), where he was Head of Middle East Corporates, Head of the Global Funding Platform, Head of the MTN Desk at the European Bond Syndicate, responsible for Private Placements origination covering European: Corporates, FIG, & SSA issuers.

Before joining Banco Santander, Wafi worked at Banesto, where he was Head of DCM, Bond Syndicate and the Funding Platform. He has extensive experience in bond issuance and has set up and managed the SPV, the EMTN and ECP programmes for the bank and corporate clients, issuing vanillas and structured notes. He was a board member of Banesto Financial Products PLC and Santander International Products PLC.

Wafi has an outstanding fingerprint in the capital markets and is co-responsible for the creation and management of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access capital markets recurrently and efficiently through primary MTNs and CP issuance.

Wafi holds a BA Hons degree in International Business and Management studies from the European Business School, London, and has attended IESE management development program in Madrid.

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Javier Jordan

Javier is an experienced banker and financial advisor with over 20 years of experience in banking and financial advisory services covering capital markets, project and structured finance, syndicated loans origination and distribution.

Prior to joining PKF Attest CM, he worked at Banco Santander and prior to that at Banesto were he was Head of Structured Financing for the Basque Country region, responsible for origination, risk analysis, debt structuring and syndication of a wide range of financing products: corporate finance, project finance, LBO and debt restructuring.

Before Joining Banesto, Javier worked at Accenture and Management Solutions where he was senior consultant in different international projects covering banking and insurance sectors.

Javier holds BA Hons in Economics and Business Administration from Deusto University

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Jokin Cantera

Jokin has over 25 years of commercial and investment banking experience, with most of his career developed at Banco Santander, Banesto and JP Morgan Chase.

Prior to PKF Attest CM, Jokin worked at Santander Global Banking & Markets division (SGBM) in London, where he was Head of Northern European Institutional Sales, covering credit markets, rates and FX distribution of flow and non-flow products.

Before joining Banco Santander, Jokin was deputy general manager of the wholesale banking division at Banesto, responsible for credit markets (origination, trading and distribution), ACPM, securitization, rates and structured products distribution. He was also head of institutional sales, responsible for the structuring, origination and distribution of credit, rates, FX and multi-asset products to institutional investors.

With a strong innovative mindset and an entrepreneurial approach, Jokin was co-responsible for the creation of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access the capital markets recurrently and efficiently through primary MTNs and CP issuance. He was also a board member of Banesto Financial Products PLC.

Jokin holds a BA Hons degree in Economics and Business Administration from Deusto University and has attended IESE, Chicago GSB & IE management programmes in Madrid and London.

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