Compliance term used in this website refers to the term used within the Spanish context to name the risk management systems implemented by firms to comply with legal requirements. Although this term has been used worldwide, e.g., in the US with the implementation of the Sarbanes-Oxley in 2002, in Spain received higher attention when the Spanish Criminal Code was modified in 2015 including criminal liability also for firms’ personhood.

SOX’s aim is to avoid new financial scandals like Arthur Andersen and Enron. The origin of the Spanish legislation is similar, avoid the scandals arisen from the 2008 crisis, e.g., Pescanova or Bankia. The Criminal Code promotes the implementation of a duty of oversight, supervision, and control. In other words, it requires firms to control employees’ and managers’ acts to avoid the commission of crimes.

The reform of the Criminal Code was supported with the publication of Circular 1/2016 by the Spanish Public Prosecutor. Both documents supported that the sole method to avoid criminal liability is implementing proper risk management systems, known as «Compliance Systems». These systems include policies, procedures, and controls to provide firms instruments to avoid the commission of crimes by its employees or managers. The last objective of compliance systems is creating a corporate compliance ethical culture.

Within this website, I will share with you content about compliance, news, resources, or guides to know more about compliance (the Spanish and the international ones). Besides, you can also read my academic publications or my collaborations in media.