Home- Good Governance
Ethics and compliance are core values for Lar España and provide a correct guidance for its business activities. To that end, the company has developed a range of policies and procedures to ensure ethical job performance and business activities and materialisation of the commitments assumed under the principles set down in the company’s body of internal rules and regulations.
Lar España is responsible for carrying out its activities in accordance with prevailing legislation, conducting itself ethically and complying with the principles laid down in the Code of Conduct, specifically including abiding by the law, demonstrating ethical and professional integrity and correctly handling potential conflicts of interest and incidents of corruption.
The Code of Conduct, approved by the Board of Directors in 2014 to complement the Internal Securities Markets Code of Conduct, applies and is binding upon all the members of the Board of Directors, the senior officers, the management team of Grupo Lar, executives and employees of the investees and third parties who have professional dealings with Lar España. It establishes guidelines governing the conduct of anyone acting in the name of Lar España and its subsidiaries.
Framed by a commitment to analysing and responding to queries and complaints arising in relation to the company’s in-house governance rules, Lar España has set up a whistle-blowing channel, which has its own operating rules and is governed by the principles of good faith, confidentiality and protection. It has also set up an Ethics Committee which is tasked with the duties deriving from implementation of this channel. During 2018 no complaints were received.
Framed by its commitment to strict compliance with prevailing legislation and the prevention of illicit practices which could harm company’s reputation, Lar España has defined and adopted an Organisational and Management Model for the Prevention of Crime
The real estate sector is subject to stringent regulations designed to prevent money laundering and establish the rules of engagement with the Executive Branch of the Commission for the Prevention of Money Laundering and Monetary Infractions (“SEPBLAC” for its acronym in Spanish). Against this backdrop, Lar España has drawn up an Anti-Money Laundering Manual, which was formally approved by the Board of Directors in 2016, as required under Spanish Law 10/2010, of 28 April 2010, on anti-money laundering and counter-terrorist financing measures.