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Compliance

Compliance

COMPLIANCE. REGULATORY COMPLIANCE PROGRAMMES.

Within the scope of business operations, risks may arise that imply non-compliance with regulations and that may even constitute criminal offences. Since the reform of the Criminal Code in 2010, legal entities may be held criminally liable for unlawful actions committed by their administrators, managers or employees. To avoid these sanctions, it is crucial to take into account the Criminal Code itself, the applicable UNE standards and the relevant case law.

WHEN IS THE LEGAL ENTITY LIABLE?

The liability of a legal entity for crimes established in the Criminal Code may arise if the crime was committed by a legal representative who is a direct or indirect beneficiary of the company. It may also be held liable if the crime was committed by employees in the performance of their duties and for the benefit of the company, and if the company failed to fulfil its monitoring and control obligations. The penalties for the legal person may include fines and even dissolution.

HOW CAN THE LIABILITY OF THE LEGAL ENTITY BE AVOIDED?

The law establishes that the criminal responsibility of a legal entity may be waived or reduced if it has adequate models of organisation and management. A regulatory compliance programme that analyses the business risks and establishes preventive measures and sanctions for non-compliance is one way of fulfilling this obligation. This programme must be regularly updated to guarantee its effectiveness.

HOW CAN THE LIABILITY OF THE LEGAL ENTITY BE AVOIDED?

The law establishes that the criminal responsibility of a legal entity may be waived or reduced if it has adequate models of organisation and management. A regulatory compliance programme that analyses the business risks and establishes preventive measures and sanctions for non-compliance is one way of fulfilling this obligation. This programme must be regularly updated to guarantee its effectiveness.

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