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Protection of Whistleblowers Is Here!

Protection of Whistleblowers Is Here!

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After a long period of preparations the Whistleblower Protection Act has been finally passed.

The act becomes effective on the first of August 2023. As of this date, certain obliged persons must implement the reporting channels and comply with other obligations imposed by the act.

The exception applies to employers who have at least 50 and up to 249 employees and, at the same time, are not public contracting authorities.

Those persons who meet conditions above have a prolonged period until the fifteenth of December 2023 to implement the reporting channel.

The obligations that must be fulfilled by each obliged person include, in particular:

1) The implementation of the internal reporting channel;

2) The designation of a designated person who will receive reports;

3) The obligation to inform potential whistleblowers (in particular on ways and methods how to submit the report and about the contact information of the designated person); and

4) The prohibition of retaliation against whistleblowers for submission of the report.

By Michal Pálinkás, Partner, Act Legal

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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