The Spanish Chamber of Commerce has celebrated the day The Future of Compliancewithin the cycle of conferences of the Compliance Working Group, created by the Chamber of Spain to help promote an ethical business culture that prioritizes crime prevention and to identify best practices.
The Secretary of State for Commerce, Amparo López Senovilla, has highlighted that the business world is “subject to all types of geopolitical and economic tensions in an increasingly regulated environment.” Therefore, he continues, “it is very important comply with legal standards“.
Likewise, he has stressed that the rules of compliance they allow “to protect the reputation of companies, strengthen them in the eyes of customers and society and improve their efficiency.” Highlights the added value of a good training program compliancesince it “optimizes resources and generates trust both internal and external“.
Regulatory compliance, he concludes, “brings operational advantages, protects the organization and contributes to creating a fairer and more sustainable business environment.” For his part, the president of the Spanish Chamber of Commerce, José Luis Bonet, has assured that the Spanish Chamber of Commerce has launched the Compliance Working Group to “help companies minimize risks they face in relation to the criminal liability of legal entities”.
The Working Group, he added, “represents a crucial effort to balance corporate criminal liability with the need to protect the interests legitimate companies in an increasingly demanding and competitive globalized environment”.
The general secretary and of the Board of Iberdrola and president of the Compliance Working Group, Santiago Martínez Garrido, has presented the conclusions of the Group, whose objective has been to “explore and propose measures that help improve and strengthen regulatory compliance systemsseeking mechanisms and tools that facilitate the objective demonstration of its existence, sufficiency and effectiveness.”
Furthermore, according to Martínez Garrido, the result of this work “will serve as a basis for the creation of meeting spaces, debate and discussion forums with the different people involved in the regulatory compliancein order to share and take advantage of best practices and address proposals for improvement in this area.
Next, a round table was held in which the future of compliance was analyzed, moderated by Adolfo Díaz-Ambrona, general secretary of the Spanish Chamber of Commerce, which has placed emphasis on improving the competitiveness that the creation ofimplementation and clear support for compliance.
The judge of the Second Chamber of the Supreme Court participated in the debate, Julián Sánchez Melgar; the State Attorney and partner of Salama García-Blanco lawyers, María Luisa García Blancoand the State Attorney and managing partner of Ayala de la Torre Abogados, José María Ayala de la Torre.
In this way, Sánchez Melgar has stated that the most relevant thing when faced with the accusation of a crime within the legal entity is “to demonstrate that there is a compliance provided with adequate and effective crime prevention instruments“.
For his part, García Blanco has pointed out that “the compliance has no future if it is not accompanied by technology”. He highlights that, in the face of an increasingly dynamic and complex panorama, “artificial intelligence systems allow us to have innovative tools and capabilities that can improve efficiency and precision in the management of regulatory compliance, as well as in prevention and detection of criminal risks. “The ability to process large volumes of data and perform advanced analysis allows us to identify patterns, trends and potential non-compliance more effectively.”
Finally, Ayala de la Torre has highlighted the “four key elements that a c program must have.compliance of a company: risk identification systems; the unequivocal commitment of senior business management to training in compliance; the use of complaints channel and correct internal investigation systems”.
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