Compliance assurance

Caja Madrid has deployed a series of tools to assure strict compliance with the applicable laws and regulations and ensure its business is conducted at all times in a moral and ethical manner. This commitment is overseen by the Legal Compliance area, which makes sure all business practices are aligned with the relevant legislation and respect the rules of fair trading. In order to supervise the activities in the compliance area, the Legal Compliance Committee was set up in 2007 with the remit to monitor and evaluate non-compliance risk and to move to resolve any conflicts of interest that may arise in the Group.

Cajamadrid, custom productsJavier Menárguez FernándezBranch 9050

In 2008 a new office was set up in the Legal Compliance area to oversee proper implementation of the policies and procedures deriving from the application of national and international rules on investment services. This involves effective and continuous control of policies on processing and executing orders, managing conflicts of interest, incentives, and others, as well as the procedures for classifying customers and categorising products, with suitability testing for investment advising activities and appropriateness testing for the sale of financial products.

As a financial institution, Caja Madrid falls within the regulatory scope of financial authorities and supervisory agencies like the Bank of Spain and the National Securities Markets Commission (CNMV). It also develops, applies and follows internal regulations such as the “Professional Conduct Manual” for all Group professionals and the “Internal Rules of Conduct” for securities exchange activities.