Legal/Regulatory Risk

The legal risk arises from the lack of compliance of a company’s procedures with legal or regulatory obligations. Legal risk may also occur if the rights of both parties involved in a transaction are being called into question.

The company's goal is to identify, manage, supervise and reduce the possible existence of legal risk.

Legal risk is managed with:

• Permanent monitoring of the departments most exposed to legal risks.
• Commitment to the implementation of development procedures and minimising such risks.
• Appropriate segregation of duties, so that documentation of such legal procedures may be carried out at the appropriate level of impartiality by the individuals involved.
• Continuous research of the relations between the legal risk department and the other risk management departments, in order to eliminate the gaps in the risk management processes.
• Implementation of minimum safety criteria for the reduction and control of each risk, including its specific features and the resolution methods to be followed by our external and internal legal resources.
• Implementation of legal risk compliance monitoring methods, taking into account the minimum criteria to be met by each department of the company.