Impact of ISO19600 standards on corporate compliance or legal compliance for in Spain.

Since 2015, the legislation on the criminal liability of company representatives in legal terms for breach of standards of proper operation was approved, and ethical in business management in Spain.

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criminal model-prevention-time 19600Hasta very recently the term “Compliance” was unknown in Spain, and used to be associated with compliance rather formal aspects of the law. But the increase in volume, complexity and variability of the rules governing economic life has been an evolution of the concept was much broader and radically different meaning. In fact, there is talk of “Compliance function” as area specializing in preventing and detecting breaches of the rules are imposed compulsorily company, as well as the assumed voluntarily. The failure of both increasingly significant economic and reputational damage are derived and, therefore, Compliance takes a direct link to sustainable development activities. Increasingly less tolerant business models show little respect for the rules or legitimate expectations of stakeholders and, therefore, the “proxy advisors” pay special attention to the structures of Compliance as a key factor of good corporate governance. The Compliance and is part of the Spanish economic and legal reality, having progressed rapidly in its maturity curve.

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ISO-19600

Initiatives of this magnitude corroborate the broadcast in Spain of the Compliance function beyond mere criminal prevention, which is an important chapter of compliance but not the only one to consider.

In fact, Spain has been one of the first countries to translate and incorporate the ISO19600 standard as national standard (UNE), giving any organization internationally recognized guidelines for structuring a function of cross-Compliance, or improve a model on a specific area compliance. For some time this part also Compliance has entered the field of university specialization not only teach his best-known aspect-the criminal- prevention, but also the different areas of compliance that affect organizations. People who are engaged or want to take on challenges of Compliance now have many resources to achieve that goal, including professional associations to stay in touch with colleagues with similar interests and share knowledge. All that did not exist a few years ago and, therefore, we contemplate the coming-of Compliance in Spain, without any doubt.

There remains, however, a long way to go: which is seen under that contained in the main benchmarks on Compliance.

One of the tasks of this function is to keep in constant contact with the authorities. This constant relationship is the one that will give the government a direct perception of the sensitivity of corporate compliance managed to, on that basis, act according to their respective level of risk, prioritizing their resources to opaque organizations or levels of management / monitoring apparently deficient. This, more leveraged collaboration than confrontation, selective approach allows the development of an efficient management of public resources and not squander careful against organizations with compliance.

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In the background is the same logic that applies in the private sector when, in an environment of limited resources, it is expected to develop a risk assessment to help you apply them reasonably. Hence the Compliance function is called to play an important role not only as an interlocutor with the regulator, but also with public authorities in general, in line with the process of rapprochement between administration and administered advocated by the OECD.

Impact of ISO19600 standards on corporate compliance or legal compliance in Spain.

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