- With this Royal Decree-Law, several European Directives were transposed that accumulated a significant delay and will allow closing the infringement procedures opened by the Commission
- The Directive on minimum requirements to strengthen worker mobility between member states is transposed
- Various provisions aimed at improving the prevention of money laundering and terrorist financing are incorporated into the Spanish legal system
The Council of Ministers has approved a Royal Decree-Law that includes the transposition of different European Directives, including those related to guaranteeing the protection of pension commitments with workers and improving the prevention of money laundering and terrorist financing.
The incorporation into the Spanish legal system of both Directives is urgent, given the delay they accumulate and the infringement processes opened by the European Commission.
Protection of pension commitments with workers
By means of the RDL approved today, Directive 2014/50 is fully transposed into the Spanish legal system, concerning the minimum requirements to strengthen the mobility of workers between Member States by improving the acquisition and maintenance of supplementary pension rights. Likewise, the application of these rights to national mobility is extended, so that these rights will be recognized to workers who change jobs within Spanish territory. The Royal Decree-Law modifies the first additional provision of the consolidated text of the Law on the Regulation of Pension Plans and Funds.
The objective of the standard is to reduce the obstacles to the mobility of workers derived from certain requirements (seniority and age) that companies impose to acquire rights in the complementary systems for retirement established in the companies. Thus, it is established that the minimum age required to access those rights cannot exceed 21 years and that the minimum age to consolidate the rights in the company cannot exceed three years.
The Directive provides for the recognition of pension rights acquired in favor of workers who cease employment before retirement as of May 21, 2018, the deadline for transposition. Therefore, the incorporation of what is established in the community regulations into the Spanish legal system is urgent, since the lack of legal recognition of this right as of the established date creates a situation of uncertainty and legal uncertainty that compromises the rights of the workers.
Prevention of money laundering and terrorist financing
The approved RDL reinforces the mechanisms and systems for guaranteeing compliance with regulations on the prevention of money laundering and terrorist financing. To do this, the pending elements of the IV Directive on Prevention of money laundering are transposed, which include elements aimed at encouraging whistleblowing complaints and increasing the maximum limits of sanctions, among other measures.
The regime of prevention of money laundering and terrorism financing in force in Spain already incorporates most of the Recommendations of the Financial Action Task Force (FATF) of February 2012 and, with it, the early implementation of a large part of the contents of Directive 2015/849. However, some relevant aspects are regulated in this RDL: the application of reinforced diligence measures to all persons with public responsibility, both national and foreign, is unified; Regarding the sanctions regime, the existing classification is maintained, although the maximum limits are increased and adjustments are made regarding advertising. Another relevant aspect is that of stimulating whistleblowing complaints by individuals through the creation of complaint channels both public and within the scope of the law enforcement entities themselves.
It also establishes the obligation to create a registry of service providers to companies. Finally, the obligated subjects are specifically required to apply reinforced diligence measures regarding the business relationships they have with people or entities related to the countries that the European Commission has determined to have strategic deficiencies in their prevention and control systems. money laundering
