Regulatory Alerts2017-04-20
Decree on Procedures for Information Exchange and Cooperation Between State Bodies Protecting Employees Who Reported Market Abuse of Financial Instruments
The Bulgarian Council of Ministers issued this Decree to establish procedures for information exchange and cooperation between the Commission for Financial Supervision and the Executive Agency "General State Labour Inspectorate" to protect employees who reported market abuse. It mandates that if an employee files a complaint regarding disciplinary dismissal linked to such a report, the authorities must verify the claim and can temporarily suspend the disciplinary proceedings for up to 14 days. The regulation ensures data confidentiality and defines strict timelines for inter-agency communication and investigation of alleged retaliatory dismissals.
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