Focus on: The work of the in-house legal team

As the chief executive officer of the Ibero-American Association of Private Law, it is my distinct privilege to underscore a number of significant cases and transactions in which our legal team has been recently engaged within the Ecuadorian jurisdiction over the past year.

In broad terms, we have been engaged in effecting the implementation of compliance programs and the integration of compliance officer roles into the corporate sphere, specifically within critical domains of private law that hold pronounced contemporary relevance.

In matters pertaining to personal data protection, we have been offering guidance to numerous enterprises in their alignment with extant regulations, which have recently come into effect within Ecuador. This alignment has entailed elevating compliance standards to align with European legislation and its analogues within Latin America. Our team has been actively involved in conceiving and executing robust compliance programs, ensuring that enterprises handle personal data appropriately and accord due respect to individuals’ privacy rights, including the guidance of corporate right to oblivion.

Within the realm of fintech legislation, we have been an integral part of processes involving innovative enterprises operating within the financial and innovation sectors. This involvement has facilitated the orchestration of more agile and dynamic production processes. We have been engaged in interpreting and applying specific regulations, thereby ensuring that these enterprises can operate within the legal framework, fostering innovation while upholding security and transparency standards.

Another facet of our involvement pertains to managing cases related to moral harm in social media and the digital domain. These cases have posed unique challenges at the juncture of freedom of expression and the bounds of online discourse. Our team has diligently collaborated in formulating equitable legal approaches that safeguard individual rights without unduly curbing online communication.

Sustainability and environmental respect have assumed paramount significance in the present milieu. We have been actively promoting corporate legal initiatives encouraging environmentally respectful practices. This advocacy encompasses the propulsion of contractual clauses incentivizing renewability and environmental responsibility within commercial transactions. An imperative aspect of our participation involves integrating risk assessment and mitigation criteria within environmental accountability across diverse industry sectors.

We have been offering counsel to diverse enterprises in developing legal guidelines and recommendations, enabling them to address sustainability issues in their operations and contractual undertakings. Additionally, we have been instrumental in establishing platforms for discourse to share best practices in this domain, cultivating an awareness of the significance of environmental responsibility in the corporate arena.

The pandemic and other seismic shifts in the business landscape have underscored the necessity of preparedness for the unforeseen. In response, we have redoubled our endeavours to propel the incorporation of anticipation criteria within risk assessment and compliance dimensions. This involves counselling enterprises to discern potential crisis scenarios and formulate contingency plans that enable them to respond effectively and ethically.

Our approach pivots on anticipation and adaptability. We are championing the integration of contractual clauses addressing unanticipated circumstances impartially for all involved parties. Furthermore, we are engrossed in crafting legal resources that facilitate enterprises in comprehending and honouring their obligations, even amidst rapid and profound shifts in the business environment.

Turning to legislative and regulatory changes, the legislation concerning personal data protection and fintech law has pronounced influenced the Ecuadorian legal landscape in the past quarter. These regulations have redefined how enterprises handle personal information and the modus operandi of financial and technological entities.

We have been offering guidance to our corporate members to ensure their understanding and adherence to the novel obligations laid out by these laws. Additionally, we have been at the forefront of generating legal insights to address the challenges arising from the practical application of these regulations. Our objective is to strike a balance between innovation, the safeguarding of individual rights, and the stability of the legal framework within the realm of proprietary private law for enterprises and corporations.