Market and Consumer Regulations
Market and Consumers
Art278. Disclosure of Business Secrets
1. Discovering a secret through data, documents (written or electronic), computer media, or other related objects, or employing means mentioned in Article 197, paragraph 1, is punishable by two to four years imprisonment and a fine of twelve to twenty-four months.
2. Disseminating, ceding to a third party, or disclosing discovered secrets is punishable by three to five years imprisonment and a fine of twelve to twenty-four months.
3. These provisions do not prejudice penalties for seizing or destroying computer media.
Art279. Disclosure of Secrets by Person with Obligation to Maintain Reserve
Dissemination, disclosure, or transfer of a business secret by a person legally or contractually obligated to maintain confidentiality is punishable by two to four years imprisonment and a fine of twelve to twenty-four months. If secrecy is used for personal gain, penalties will be increased.
Art280. Acts Related to Illicitly Obtained Secrets
Knowingly performing acts described in the two preceding articles with knowledge of illicit origin, without participating in the discovery, is punishable by one to three years imprisonment and a fine of twelve to twenty-four months.
Art281. Market Manipulation of Raw Materials
1. Detracting the market of raw materials or primary commodities to create shortages, force price changes, or cause serious harm to consumers is punishable by one to five years imprisonment and a fine of twelve to twenty-four months.
2. Penalties are higher if the act occurs during emergencies, serious need, or catastrophes.
Art282. False Advertising
Manufacturers or merchants making false claims or demonstrating uncertain characteristics in product or service tenders or advertising, causing serious and visible damage to consumers, are punishable by six months to one year imprisonment or a fine of twelve to twenty-four months, without prejudice to penalties for other crimes.
Art283. Fraudulent Invoicing
Invoicing higher amounts for products or services measured by automatic devices, by altering or tampering with them, to the detriment of the consumer, is punishable by six months to one year imprisonment and a fine of six to eighteen months.
Art284. Market Manipulation Through False Information
Spreading false news, using violence, threats, deception, or insider information to alter prices resulting from free competition of products, commodities, securities, services, or other movable or immovable objects, is punishable by six months to two years imprisonment or a fine of twelve to twenty-four months, without prejudice to penalties for other crimes.
Art285. Insider Trading
1. Using restricted access information related to the price of securities or instruments traded in an organized, official, or recognized market for personal or third-party economic benefit exceeding 600,000 euros, or causing equivalent damage, is punishable by one to four years imprisonment, a fine three times the profit, and disqualification from professional activity for two to five years.
2. Penalties increase to four to six years imprisonment, a fine three times the profit, and disqualification for two to five years if: a) The subject routinely engages in such practices. b) The benefit is substantial. c) The act causes serious harm to general interests.
Art286. Unauthorized Access to Broadcasting Services
1. Providing unauthorized commercial access to audio or television broadcasting, interactive distance electronic services, or conditional access to such services through:
a. Manufacturing, importing, distributing, making available electronically, selling, renting, or possessing unauthorized equipment or software.
b. Installing, maintaining, or replacing such equipment or software.
is punishable by six months to two years imprisonment and a fine of six to twenty-four months.
2. Altering or duplicating telecommunications equipment identification numbers for profit, or marketing fraudulently altered equipment, carries the same penalty.
3. Providing unauthorized access to services described in paragraph 1 to third parties, or publicly disseminating information on how to gain unauthorized access, is punishable by a fine.
4. Using equipment or software enabling unauthorized access is punishable according to this article.
Art287. Common Provisions
1. Prosecution for crimes in Section III requires a complaint from the injured party or their legal representatives. Minors, incompetents, or disabled persons may also withdraw the prosecution.
2. Complaints are not required if the crime affects general interests or a group of people.
Art288. Publication of Sentence
Publication of the sentence in official newspapers is required. Upon the injured party’s request, the judge may order reproduction in news media at the convicted’s expense. The judge may also adopt measures outlined in Article 129.
Abduction of Social or Cultural Property
Art289. Damage to Social or Cultural Property
Destroying, disabling, or harming social or cultural property, or evading legal duties imposed in the community’s interest, is punishable by three to five months imprisonment or a fine of six to ten months.
Corporate Crimes
Art290. Falsification of Financial Statements
Managers (de facto or de jure) of a company who falsify financial statements or other documents reflecting the economic status to cause economic harm to the company, partners, or third parties, are punishable by one to three years imprisonment and a fine of six to twelve months. Penalties are higher if economic damage occurs.
Art291. Improper Agreements by Majority Shareholders
Those who, leveraging their majority status, make improper agreements for personal or third-party profit, to the detriment of other partners, without reporting benefits, are punishable by six months to three years imprisonment or a fine three times the profit.
Art292. Harmful Agreements Through Fictitious Majority
Levying harmful agreements through fictitious majority obtained by blank signatures, improper voting right allocation, unlawful denial of voting rights, or similar procedures, is punishable by the same sentence as the preceding article, without prejudice to penalties for other crimes.
Art293. Denial of Partner Rights
Administrators (de facto or de jure) who unjustifiably deny or obstruct a partner’s rights to information, management participation, control of social activity, or pre-emptive actions approved by law, are punishable by a fine of six to twelve months.
Art294. Obstruction of Inspectors or Supervisors
Administrators (de facto or de jure) of companies subject to administrative supervision who obstruct inspectors or supervisors are punishable by six months to three years imprisonment or a fine of twelve to twenty-four months. The judicial authority may also enact measures outlined in Article 129.
Art295. Abuse of Office by Administrators
Administrators or members who abuse their office for personal or third-party benefit, causing loss of company assets or incurring obligations resulting in assessable economic damage to members, depositors, or owners of managed property, are punishable by six months to four years imprisonment or a fine three times the profit.
Art296. Prosecution Procedures
1. Crimes in this chapter are prosecuted by complaint from the injured party or their legal representative. The Ministry Fiscal may terminate proceedings for minors, incompetents, or disabled persons.
2. Complaints are not required if the crime affects general interests or a group of people.
Art297. Definition of Cooperative Society
For this chapter, a cooperative society is a savings bank, mutual financial institution, credit union, trust, corporation, or similar entity permanently involved in the market.
Public Finance and Social Security
Art305. Tax Fraud
1. Defrauding the State Treasury (regional or local) by evading taxes, deductions, withholdings, or improperly obtaining tax benefits exceeding 120,000 euros is punishable by one to four years imprisonment and a fine two to six times the amount. Penalties are higher if: a) Interposed persons are used to hide the taxpayer’s identity. b) The fraud is significant and serious, considering the amount or organizational structure affecting multiple taxpayers. Additional penalties include loss of subsidies, public aid, and tax or Social Security benefits for three to six years.
2. The amount is determined per tax period or declaration. For periods under twelve months, the fraudulent amount covers the calendar year.
3. The same penalties apply to fraud against the European Community Treasury exceeding 50,000 euros.
4. Criminal responsibility is waived if the tax situation is rectified before notification of tax authority action, prosecutor action, or lawsuit.
Art306. Fraud Against the European Community Budget
Defrauding the European Community budget by over 50,000 euros through evading payments or misusing funds is punishable by one to four years imprisonment and a fine two to six times the amount.
Art307. Social Security Fraud
1. Defrauding Social Security by evading contributions, obtaining undue refunds, or deductions exceeding 120,000 euros is punishable by one to four years imprisonment and a fine two to six times the amount. Penalties are higher if: a) Interposed persons are used. b) The fraud is significant and serious.
2. The amount is determined per settlement, refund, or deduction, referring to the calendar year for periods under twelve months.
3. Criminal responsibility is waived if the situation is rectified before notification of inspection.
Art308. Fraudulent Obtaining of Public Grants
1. Obtaining public grants exceeding 80,000 euros by falsifying conditions is punishable by one to four years imprisonment and a fine two to six times the amount.
2. The same penalties apply to substantially altering the purpose of funded activities exceeding 80,000 euros.
3. Additional penalties include loss of subsidies, aid, and tax or Social Security benefits for three to six years.
4. Criminal responsibility is waived if the amounts are reimbursed with interest before notification of inspection.
Art309. Fraudulent Obtaining of European Community Funds
Improperly obtaining European Community funds exceeding 50,000 euros by distorting conditions is punishable by one to four years imprisonment and a fine two to six times the amount.
Art310. Failure to Keep Accounting Records
Failing to keep required commercial or tax records is punishable by five to seven months imprisonment if: a) There’s complete non-compliance. b) Separate accounts are kept for the same activity, concealing the company’s situation. c) Business transactions are not recorded accurately, or false figures are used. d) Fictitious accounting entries are made. Charges or credits exceeding 240,000 euros per fiscal year are required for offenses in c) and d).