Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 581

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 581
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 or other relevant information; (ii) disclosing relevant information as well as key inside information on the Group to the markets, which can be found on both our website and the CNMV's; and (iii) reporting on transactions with treasury shares or significant holdings of Banco

Santander, and on transactions and share-based remuneration schemes of executive directors and senior managers to the CNMV and other regulatory bodies in markets where Santander is a publicly traded company.

E. Automatic exchange of tax information between countries

The data management function oversees automatic tax disclosure between subsidiaries (pursuant to FATCA 13 and CRS 14 ) by checking regular reporting obligations and execution of local action plans.

| Key corporate compliance lines of action in 2024 |     |                                                                                                                                                                                                             |     |                                      |     |                                                                                                                                                                                            |
| Policies, procedures and guidelines              |     |                                                                                                                                                                                                             |     | Subsidiaries Oversight and Awareness |     |                                                                                                                                                                                            |
|                                                  |     | →Enhanced Santander's GCC to avoid conflicts of interest that could arise between Group professionals who have a family member within the Group.                                                            
 →Revised Santander's CCSM to align its content to the current regulatory framework and best practices and to adopt an approach closer to the expectations of US regulators.                                 |     |                                      |     | →Ongoing coordination to facilitate proactive identification, management and reporting of any data related risk.                                                                           
 →Established foundation for countries not affected by GDPR to apply similar standards through a comprehensive compliance program which manages personal data protection risks effectively. 
 →The focus of the Surveillance function was on the continued harmonization of global tools and processes across both trade and communications.                                             
 →Benchmark Oversight of subsidiaries and global businesses strengthened through the execution of Risk assessments, and through the advice to local units and businesses.                   |
| Risk management, methodologies and control       |     |                                                                                                                                                                                                             |     |                                      |     |                                                                                                                                                                                            |
|                                                  |     | →Successfully completed the transition to the enhanced methodology of EURIBOR contribution set by the European Money Markets Institute.                                                                     
 →Implemented the amendments stemming from EMIR-Refit.                                                                                                                                                       
 →Applied a control framework to the two buyback programmes carried out in the year (for an amount of EUR 1,459 million and EUR 1,525 million) to contribute to their compliance with applicable regulation. |     |                                      |     |                                                                                                                                                                                            |

Conduct and reputational risk

The conduct and reputational risk function promotes suitable levels of consumer protection by fostering