Spain has adopted a new law that strengthens its existing provisions on criminal liability and will apply to crimes such as fraud, bribery and commercial bribery1,2. The law enters into force in December 2010.
According to law firm Baker & McKenzie, under Spain's new Criminal Code (Ley Orgánica 5/2010) companies will be criminally liable for:
- offences committed on their behalf or to their benefit by individuals within the company entrusted with management authority; and
- unlawful acts committed by any other person subject to such management authority in the course of company business on behalf and to the benefit thereof, resulting from the company not having exercised the required degree of control "under the particular circumstances of the case"...
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