Under the terms of the new constitution, anyone seeking to run the country has to divest himself of company shareholdings that might interfere in the free and fair execution of executiveduties.
SANTANDER, Spain March 22 (Reuters) - Santander's chairman said he saw no reason why chief executive Alfredo Saenz should have to give up his duties after the Bank of Spain began proceedings to decide if he would be barred from banking.
However, it should still allow the board to exercise its fiduciary duties to the corporation in the event the executive director is not performing to the stated standards.
While there were already laws in place barring members of Congress or the executive branch from profiting from nonpublic information that they learn in the course of their duties, it was extremely difficult for those at the Securities and Exchange Commission to enforce those laws.