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08 June 2016

Leaders of the legal, academic and business world analyse the new public sector at Deusto Business School

During the special events held this year to commemorate Deusto Business School's 100th anniversary, DBS Madrid organised a seminar on the new public sector on 7 June.
A large group of politicians, business leaders and students from the School met to hear the opinions of Eloy Velasco, judge of the National High Court of Spain; the President of the Spanish Securities Market Commission (CNMC), José María Marín Quemada; former President of the CNMC, Manuel Conthe and the former Vice President of the European Commission, Joaquín Almunia.

The seminar began with a talk by Luc Theis, Director General of Deusto Business School, followed by Eloy Velasco's speech. The judge discussed the new risks in the public sector and the development of new crimes, how they impact companies and how criminal law is adapting to these changing circumstances.

He also recommended that companies be alert to the new types of risks that could affect them: labour, data protection and confidentiality, environmental, financial integrity and improper business or corporation practices. He stated that companies must know their global as well as internal rules and analyse decision-making.

He also referred to tax havens. “They could be stopped in a second if the EU member states decided to close the ones in their territory and began to apply a common policy to control this", he affirmed.

The next talk was on new agents, given by the President of the Spanish Securities Market Commission (CNMC), José María Marín Quemada, who was introduced by the Chairman of E&Y Spain, José Luis Perelli.

Marín Quemada expressed his support for entities like the one he leads. They should be transparent, independent and rigorous. He went on to explain that, in light of the pressure it receives, the CNMC has put a confidential complaints e-mail box in place.

He also warned that the collaborative economy and digitalisation are realities that cannot be stopped and cited the following example: “raising your hand to stop a taxi may be gesture that our children don’t understand”.

Former President of the former President of the CNMC, Manuel Conthe, spoke later and engaged in a dialogue with Luis Cueto, General Coordinator of the Madrid City Council. They both discussed the New Governance.

Conthe’s opinion is that there should be non-elected oversight institutions for democracies to work properly. As per governance of firms, he defended the role of dominical councillors, particularly those that represent non-controlling interests, whom he called" mini dominicals”.

The seminar concluded with a business lunch during which Joaquín Almunia, former Vice President of the European Commission, spoke on the New Europe. Following the talk by the President of Alstom Spain, Antonio Moreno, Joaquín Almunia emphasised the importance of Europe. “Europe is our future. There are no alternatives outside", he stated. He added that the current moment calls for a shift from cold rules to institutions that make policies.

Almunia, who was a minister during the González administrations and Secretary General of the Spanish Socialist Party from 1997 to 2000 also said that, in his opinion, "extremes lead to errors in politics, just like they do in statistics”. He also said that dialogue and compromise are more necessary than ever “but if voters tend to take extreme positions, it will be difficult to reach agreements".

The seminar, held in collaboration with E&Y, was moderated and led by María Jesús Escobar, partner in charge of the public sector at E&Y, and Iñaki Ortega, Director of Deusto Business School Madrid.