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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 1114. Banks campaigns for ethics
Friday, February 21, 2014 @ 12:20 PM

Bankia  has created a confidential channel for complaints against malpractices available for employees and suppliers.

Bankia has outsourced the management of the service to a third party , PwC, to strengthen the independence of the process and ensure the confidentiality of complainants .

Customers of  Bankia may not use this confidential channel because they already have their own tool enabled in the customer service.

 
Javier Lopez Andreo , partner at PwC , explains that " having a foreign manager group is a barrier between the company and the complainant. This independent third party acts as a hinge and allows the complainant feels protected , reducing , in theory, the fear of reporting '.

The creation of the confidential channel  is in line with  the near reform the Criminal Code which is implementing the Government and is expected to come into force during 2014. The new standard will require all companies to have a  mechanism for reporting irregularities .

Costa Luz Left

BaeloClaudia, Bolonia, Tarifa, Cadiz, South western Spain, at facebook.com



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ads said:
Friday, February 21, 2014 @ 12:32 PM

Does this reporting mechanism include failure to manage and provide individual Bank Guarantees and secure accounts for offplan deposits, Maria?

Do you know which Banks/Cajas are now included under the Bankia "umbrella".

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