Spanish businesses often mistakenly think that having a compliance officer and a compliance programme is enough to stop them being held liable for regulatory breaches, but a change of company mindset is also crucial, says

Adopting effective compliance programmes requires first-rate management because leaders need to take responsibility for engaging the whole organisation

Many companies do not invest enough time creating decent compliance programmes, with some mistakenly thinking ‘cut and pasting’ a programme is sufficient

Recent regulatory developments related to data protection and anti-money laundering are increasing awareness of corporate compliance among clients in Portugal, according to CCA Ontier partner Henrique Salinas.

Companies need to take complaints seriously and have proper whistle-blowing procedures to quickly identify ‘bad behaviour’ – being able to conduct quick investigations is also key

Large businesses in Spain are now recognising the importance of corporate compliance, though the market is still relatively immature, says Álvaro Gámez Serracarbassa, head of the compliance department at Andersen Tax & Legal.