DCV Extends the Scope of its Crime Prevention Model Certification

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This certification process took
place between January and September 2021.

Depósito Central de Valores (DCV), and its subsidiary, DCV Registros extended the scope of their Crime Prevention Model certification.

The first time this certification was conducted was in 2014, and since then, DCV and DCV Registros have made a joint commitment to maintain it. The re-certification has a duration of two years. It demonstrates the ongoing commitment of DCV to the compliance of regulatory obligations. It allows exhibiting to supervisory entities and the market in general that its legal risks are identified and appropriately managed.

The certification conducted this year has resulted from a diagnosis and test process on the effectiveness of the measures adopted to mitigate the risk scenarios that may occur within the company's distinct operations. The preceding is due to the new corporate legal responsibility crimes.

This certification process took place between January and September 2021. BH Compliance was the entity in charge of certifying that the implemented model meets all the requirements set in the current regulations, considering the line of business, size, income level, and complexity, for all the crimes that could lead to corporate legal responsibilities. Inappropriate business dealings, bribery between private individuals; misappropriation, mismanagement; money laundering; passive bribery to public national or international officials; and concealment of stolen goods.

The development, maintenance, and certification of the Crime Prevention Model provides a series of benefits, such as:

  • Identifying areas of the company that are exposed to committing crimes.
  • Detecting gaps for the continuous improvement of crime mitigation measures.
  • Maintaining senior management informed about the compliance management process.
  • Demonstrating the compliance of the guidance and supervisory duties imposed by law.
  • Strengthening the company's reputation and the trust from the interest groups.
  • Maintaining records for legal defense in the event of criminal investigations.

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