The Regulatory Compliance system is a set of procedures and good practices adopted by organizations in order to identify and classify the operational and legal risks they may face and establish internal mechanisms for prevention, management, control and reaction to them.
Due to the possibility that legal entities may be prosecuted and eventually convicted for certain acts included as crimes in the criminal code, it is becoming increasingly necessary for organizations to have a preventive system that minimizes the possibility of committing these crimes and that, although not infallible, contains a set of measures that hinder the commission of illegal acts and establishes a procedure to be followed internally in the event of suspicion of the commission of any of these acts.
From Lancor, for a continuous observance of the principles of honesty, respect, integrity, transparency and safety, we seek to achieve this culture of organizational ethics and we are committed, all the staff that make up the entity, to provide all the methods and systems necessary to achieve this goal.
For this reason, we have implemented this Regulatory Compliance system, which has been developed during the year 2021. In October 2023, a first periodic review of the risks detected was carried out, as well as an initial assessment of the new criminal offenses that could be committed by legal entities.
We have a code of ethics that includes the values we wish to uphold as well as the guidelines for our relationships between Lancor employees and with external agents.
The compliance system itself leads us to set up a whistle-blowing channel and to appoint a compliance officer with the functions, fundamentally, of receiving complaints, clarifying facts and instructing, in appropriate cases, the established procedure in order to submit it to the consideration of the decision-making body.
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