I.- Legal news
1.- Organic Law for Equal Pay between Women and Men
Source: Supplement to the Official Registry No. 481 of January 19, 2024.
The “Organic Law for Equal Pay between Women and Men”, promulgated on January 19, 2024, aims to guarantee equal remuneration and other forms of economic remuneration between men and women in equivalent jobs. It establishes guiding principles based on the Constitution and international treaties, and is applied in both the public and private sectors. The law includes measures such as mandatory training, changes in organizational culture, and procedures for complaints and sanctions in case of non-compliance, in order to eliminate the gender pay gap.
Click to access the text of the law.
2.- Regulation on the formation and operation of boards of directors in companies registered in the stock market and whose shares are listed on the stock exchange that have not adopted the Ecuadorian Standards of Good Corporate Governance.
Source: Official Registry No. 485 of January 25, 2024.
Resolution No. SCVS-INC-DNCDN-2023-0029, issued by the Superintendency of Securities and Insurance Companies on December 28, 2023, establishes regulations for the formation and operation of boards of directors in companies registered in the securities market that have not adopted the Ecuadorian Standards of Good Corporate Governance. The resolution details criteria for the structure of boards of directors, including gender ratio, suitability requirements for its members, and procedures for their appointment and removal, focusing on transparency and administrative effectiveness.
Click to access the text of the standard.
3.- Guidelines for the registration of equality plans
Source: Ministerial Agreement No. MDT-2024-013, January 19, 2024.
Ministerial Agreement No. MDT-2024-013, issued on January 19, 2024, establishes guidelines for the registration of Equality Plans in private sector companies with 50 or more workers, in compliance with the Organic Law to Promote the Violet Economy . Employers have until July 31, 2024 to register their Equality Plans on the platform designated by the Ministry of Labor. Failure to present these plans within the established period will lead to control and sanction processes.
Click to access the text of the standard.
4.- Regulations of labor organizations for the exercise of the right to union freedom and autonomy
Source: Ministerial Agreement No. MDT-2024-012, January 18, 2024.
Ministerial Agreement No. MDT-2024-012 updates the regulations on labor organizations in Ecuador. This agreement repeals the Labor Organizations Regulations of 2013 and related regulations, introducing new guidelines for the formation, registration and operation of these entities. Each chapter of the agreement addresses specific aspects, from the requirements for the constitution of organizations to the procedures for obtaining legal status, emphasizing the simplification of procedures and the promotion of union freedom and autonomy.
Click to access the text of the standard.
II.- New entry on our blog
Gender Equality at Work: An Analysis of the Organic Law for Equal Pay and the Organic Law to Promote the Violet Economy in Ecuador
By: Abg. Miguel Ángel Saltos Orrala, Mgs.
In this article we address an analysis of the Organic Law for Equal Pay and the Organic Law to Promote the Violet Economy in Ecuador, from the perspective of regulations that propose a new paradigm for companies to get involved in gender equity and the elimination of wage gaps. We invite you to read it.
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Contact information:
Abg. Miguel Ángel Saltos | Email: miguel.saltos@lince-saltos.com | Telephone: (+593 4) 2630313
