Normative compliance 1

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  • Normative compliance

Money Laundering Prevention

Banco Sabadell has set up a global policy to ensure strict compliance with current legal regulations and with the recommendations put forward both by the Financial Action Task Force on Money Laundering (FATF) and by the Spanish Supervisory Body for the Prevention of Money Laundering in Spain.

 

The main objective of Banco Sabadell’s anti-money laundering policy is to prevent the use of our commercial network for any activities related to Money Laundering and is based on the following points:

 

- The identification and knowledge of customers and their financial and economic activities.  

- The existence of an Internal Control Authority and active communication.  

- Written internal procedures with specific profiles.  

- The development of the culture of prevention among all the employees of Banco Sabadell through specific training activities and regular reminders.  

- The detection of suspicious transactions by means of a software tool developed in collaboration with a specialised company.  

- Reporting to the competent authorities according to procedures established by the Regulator at each given moment.

 

For any query you may have regarding this subject,  please contact us at the following e-mail address: 0901CN@bancsabadell.com.

USA Patriot Act

The events that took place in 2001 altered institutional relations throughout the world and this led to the United States passing the law “International Money Laundering Abatement and Counter Terrorist Financing Act” which was aimed at preventing money laundering and the financing of terrorism.

 

In accordance with this document, North American financial institutions are required to obtain certain information about foreign banks with whom they hold correspondent accounts.

In compliance with this requirement, a Certification has been created. This can be used by every financial institution that requires it. The certification is to be found in PDF format at the foot of this page.

 

If you have any queries regarding these documents, please contact us at the following e-mail address: 0901CN@bancsabadell.com.

MiFID

The new Markets in Financial Instruments Directive (MiFID), in force since January 3rd 2018, aims to increase transparency and improve the protection of customers in the provision of investment services.


For this purpose, we provide general information that we believe may be of interest to you.

Within the framework of the MiFID regulation and in compliance with the obligations contained in article 3 of the Delegated Regulation (EU) 2017/576 of the Commission of June 8th, 2016 regarding the five main execution venues used in the provision of investment services and the quality of execution obtained, the following document provides the identification of such centres alongside the information required by this legal corpus.


Operational & quality data in the five main execution centres (pdf). (Spanish version)


Operational & quality data in the five main execution centres (csv). (Spanish version)

FATCA

FATCA is the acronym of Foreign Account Tax Compliance Act, a U.S. legislation whose aim is to avoid tax fraud by taxpayers in the U.S. (hereafter, “U.S. persons”) on income obtained outside its frontiers. The legislation is worldwide in scope and came into force on 1 January 2013.

 

On 14th May 2013 Spain signed an Intergovernmental Agreement (IGA) with the United States to facilitate the introduction of FATCA in Spain. Under this agreement all financial institutions are required to send information to the Spanish Tax Agency on certain US citizens or residents, certain US companies, as well as certain Spanish companies which have US citizens or residents owning >25% of shareholding structure.

 

The entities of Group Banco de Sabadell undertake to cooperate with ensuring compliance with FATCA regulations, and they have registered as participating FATCA financial entities with the IRS (Internal Revenue Service), federal agency of the Government of the United States, which is responsible for tax collection and ensuring compliance with tax law.

The entities of Group Banco de Sabadell undertake to cooperate with ensuring compliance with FATCA regulations, and they have registered as participating FATCA financial entities with the IRS (Internal Revenue Service), federal agency of the Government of the United States, which is responsible for tax collection and ensuring compliance with tax law.

 

More information