Compliance Verification
Compliance Verification Function
GCO has the key function of verifying compliance, which forms part of GCO's comprehensive internal control and governance system and is framed in the second line of defence, in coordination with the rest of the core functions and supported by the organisation as a whole. This function is responsible for advising the governing bodies of the companies of GCO on compliance with the legal, regulatory and administrative provisions that affect them, as well as compliance with internal regulations, the assessment of the possible repercussions of any modification of the legal environment, and the determination and assessment of compliance risk.
Compliance Verification Committee
In accordance with the principles set out in its Code of Ethics, GCO is firmly committed to the faithful compliance with the regulations applicable to its activity. To ensure its execution, GCO has a Compliance Verification Committee, which coordinates, supervises and establishes common criteria for all GCO entities in relation to the application of the regulations that affect them, thus providing the maximum possible security in the management of compliance risk in the activities carried out by the organisation, in accordance with the best international standards on compliance and the guidelines of the national and European control authorities.
Prevention of money laundering and the financing of terrorism
As an integral part of this function, in order to promote transparency and contribute to maintaining the trust of its stakeholders, GCO has a corporate governance framework for the prevention of money laundering and the financing of terrorism, enabling them to relate to the Group without the fear that misuse of the financial system or other sectors of economic activity may pose a risk of money laundering or the financing of terrorism. GCO has also appointed a single representative of the entities bound by the regulations for the prevention of money laundering and the financing of terrorism, to deal with the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (SEPBLAC).
Personal data protection and information security
As an integral part of this function, in order to promote transparency and contribute to maintaining the trust of its stakeholders, Grupo Catalana Occidente has set up a corporate governance framework for personal data protection and information security, with the aim of preserving the confidentiality and privacy of personal data and information and providing a secure management environment for the processing systems and services that support it. It has also appointed a Data Protection Officer to ensure compliance with applicable personal data protection regulations. Both the Data Protection Officer and the Compliance Verification Director hold Data Protection Officer Certification in accordance with the scheme promoted by the Spanish Data Protection Agency (AEPD).
