Modules
Functions and objectives of the compliance
El compliance is the set of procedures and good practices adopted by the company to detect and identify the legal risks faced in the development of its activity, to establish internal mechanisms of prevention, management, control, and reaction to them.
Prevention
Reporte
- Identificar y evaluar riesgos
- Prevenir la comisión de delitos
- Diseñar e implementar protocolos y procedimientos
- Orientación y apoyo en todas las áreas de la empresa
- Establecer el tono ético en la dirección
- Raise awareness throughout the organization
- Detección y reporte al órgano responsable
- Vigilancia y control del cumplimiento normativo
- Informar periódicamente al Consejo de Administración
- Medir y evaluar el desempeño del plan Compliance
- Establecimiento de medidas para la resolución de incidentes
The main goal of implementing the Compliance is to align company goals with the goals of compliance, that is to say, compliance with the legal requirements at national and international level. It also takes care of regulating the internal operations for its adaptation to the standards and codes designed to ensure such compliance. It is a function that varies continuously in order to adapt the company to a regulatory framework increasingly larger and more complex
To tackle all these challenges, the management systems compliance it is structured around three pillars:
Prevention
In this phase, it provides enterprises with the tools to prevent the commission of crimes. Establish procedures that allow the fulfillment of the law and materialize those procedures in the daily behavior of the employees.
The tasks related to prevention are:
- Identify and assess risks, for example, through a audit compliance.
- Design and implement protocols and procedures, including the opening of a whistleblowing channel internal mandatory
- Guidance and support to the different areas
- Set the tone of ethics among directors and executives
- Raise awareness throughout the organization
- Policies of recruitment and promotion
Detection and reporting
In this phase, we locate potential sources of non-compliance and inform the body responsible to take the appropriate measures. It is one of the most important duties of the regulatory compliance, as the company is responsible for those crimes committed by omission of their duties of supervision, surveillance and control.
The company can be exempted from liability for crimes committed in your name by demonstrating that it has adopted the measures of surveillance and appropriate control to prevent them.
- Monitoring and enforcement of the prevention model
- Inform the Board of Directors
- Measure the performance
Examples of compliance of a company
The corruption within the company occurs in different ways and what you intend to do with regulatory compliance is to eradicate it and pervasive transparency.
You can say that the standards of compliance in enterprises, is related to a large number of subjects, among which includes aspects such as:
- Data protection
- Securities market act
- Prevention of money laundering (PBC)
- Financial laws
- Competition law, etc
There are different specific models of compliance, which we went to see below;
- Compliance criminal
- Compliance tax
- Compliance financial
- Compliance labor
- Compliance environmental
- Compliance technology
- Compliance to the prevention of money laundering
- Compliance to the sport
- Compliance and cyber security
A company can adopt one or more of these types of compliance and articulate them through a management system for compliance, legal, or just take this last, as this encompasses all of the compliance risks that may face a company.
Sanctions compliance
What is the regulation's enforcement in compliance? What fines or penalties imposed on companies that do not comply with the obligation to ensure regulatory compliance?
Up to the year 2020, the Spanish companies were sanctioned by the judges with more than 2.450 million euros for not having a compliance program. Apart from the fines, economic, do not respect the regulatory compliance may result in other consequences for the company, as the loss of business, or the temporary ban.
Below we see a series of crimes whose responsibility it affects the legal entities, and their respective penalties:
Fine triple to quintuple of the profit gained.
Fine triple to quintuple of the profit gained.
Fine triple to quintuple of gain, double to quadruple or double to triple of what was gained, depending on the term of imprisonment provided for those who committed the crime.
If the person has provided a prison sentence and a fine will double to quintuple the amount evaded. For the rest of the cases fine will double to quadruple of the amount evaded.
Fine of two to five years, of one to three years or six months to three years, depending on the term of imprisonment provided for those who committed the crime.
Fine will double to quadruple the damage caused or double to triple the damage caused, in function of the penalty of imprisonment, as provided for who committed the crime. Fine will double to quadruple the profit obtained if the crime carries a penalty of imprisonment. In the remainder of cases, a fine of double to triple the profit gained.
Fine of two to five years, or six months to two years, depending on the term of imprisonment provided for those who committed the crime.
A fine of double the amount evaded. Also the loss of the possibility of obtaining subsidies and enjoy tax benefits, or social Security in a period of three to six years.
Fine of one to three years.
Fine of two to five years, or one to three years, depending on the term of imprisonment provided for those who committed the crime.
Fine of two to five years.
Fine of two to five years, or from double to quadruple the value of the drug, or of one to three years, or double to quadruple the value of the drug, depending on the term of imprisonment provided for those who committed the crime.
Fine triple to quintuple of gain, or double to quadruple, depending on the term of imprisonment provided for those who committed the crime.
Penalty of six months to two years.
Fine of two to five years, or one to three years, depending on the term of imprisonment provided for those who committed the crime.
A fine double to quadruple the value of the goods, or goods that are the object of smuggling. Prohibition of obtaining subsidies, grants or tax exemptions between one and three years.
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