Special focus: Compliance
Sleepless nights
Many clients are worried
about facing criminal
prosecution for non-
compliance, consequently
they are turning to their
legal advisers in order to
allay their fears
Clients’ concern about being
held criminally liable for non-
compliance are increasing. As a
result, legal advisers are fielding
a growing number of calls from
anxious clients who want help
implementing a compliance
programme that will minimise
the risks they face. This climate
of fear is generating significant
opportunities for law firms in
Spain and Portugal who, in
addition to helping businesses
implement compliance
programmes and conduct
internal investigations, are also
able to cross-sell employment,
IP or corporate legal services, for
example.
The reform of the Spanish
criminal code in 2015, the
publication of the UNE 19601
criminal compliance rules in
May 2017, and the deadline
for implementation of the EU’s
General Data Protection Regulation
this year have put the spotlight on
compliance matters, with law firms
Baker McKenzie partner Cecilia Pastor says
sophisticated companies are now auditing
and reviewing their compliance systems
reporting an increase in interest
from companies in a range of
sectors. Traditionally, companies in
50 • IBERIAN LAWYER • May / June 2018
regulated sectors such as banking,
energy or insurance led the way
in compliance matters, but an
increase in awareness, especially
since 2015, means that nowadays
many corporates have well-
defined compliance programmes.
“Many companies, at least the
most sophisticated ones, have
compliance systems in place, and
are now focusing on the next
step, the auditing and review of
existing systems,” remarks Baker
McKenzie partner Cecilia Pastor.
Cross-selling legal services
For law firms, this increase
in demand for compliance
advice can be an opportunity
to provide added value to
clients. “Compliance audits
are key in exposing areas of
improvement and risks which
are not adequately covered,”
says Pastor. Meanwhile, lawyers
say compliance is an area with
the potential to generate business
across other practice areas. “Many
clients come to us because they
are primarily concerned about
minimising the risk of criminal
liability, and therefore request
assistance with the execution of
compliance programmes,” one
partner says. “This allows law
firms to identify other areas
of improvement within the
Pablo Albert, partner at BDO, says large
companies are now at the stage of optimising
their compliance programmes
company, and to offer additional
services such as employment,
intellectual property or corporate
law advice.”
Another key development in
the last 12 months has been the
proposed new data protection law
which was approved by Spain’s
Council of Ministers in November
2017. Draft legislation allows and
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