Diario La Ley 25.03.2010[1]

YYYFKCTKQNCNG[GU
#ËQ:::+r0ÔOGTQr,WGXGUFGOCT\QFG
Tribuna
UWOCTKQ
Práctica
Forense
9LGHRYLJLODQFLD\/H\
®PQLEXV
š$FRUUDODUDOLQIUDFWRU
RDFRUUDODU
DOFLXGDGDQR"
.#.';
8KFGQXKIKNCPEKC[RTKXCEKFCF
'NRCRGNFGNC%QOKUKÍPFG)CTCPVÇCUFG8KFGQXKIKNCPEKC
3UHVLGHQWHGHO7ULEXQDO6XSHULRUGH-XVWLFLDGH0DGULG
.CKPVKOKFCFFGNCURGTUQPCURWGFGXGTUGITCXGOGPVGCHGE
VCFCUKEQPNQUUKUVGOCUFGITCDCEKÍPH»EKNOGPVGFKURQPKDNGU
UKPITCPFGUFKURGPFKQUGEQPÍOKEQUUGECRVCP[FKHWPFGPKO»
IGPGU[UQPKFQUFGUKVWCEKQPGUSWGPGEGUCTKCOGPVGFGDGP
SWGFCTCNOCTIGPFGNEQPQEKOKGPVQRÔDNKEQ'NNKDTGCNDGFTÇQ
FGNQUKPFKXKFWQUNCUOCPKHGUVCEKQPGUÇPVKOCU[TGUGTXCFCURQT
PCVWTCNG\CNCGURQPVCPGKFCFPGEGUCTKCGPOWEJQUEQORQT
VCOKGPVQUHCOKNKCTGURGTUQPCNGUUQEKCNGURWGFGPHTWUVTCTUG
ECVCUVTÍHKECOGPVGUKPQUGICTCPVK\CNCKPVKOKFCFGPVCNGU
UKVWCEKQPGU'NJQPQTFGNCURGTUQPCURQFTÇCSWGFCTITCXÇUKOC
OGPVGEQORTQOGVKFQUKFGVGTOKPCFQU»ODKVQUFGRTKXCEKFCF
SWGFCTCPKNGIÇVKOCOGPVGGZRWGUVQUCNEQPQEKOKGPVQRÔDNKEQ
;GNFGTGEJQCFKURQPGTFGNCRTQRKCKOCIGPRTQUETKDKGPFQ
WVKNK\CEKQPGUPQEQPUGPVKFCUSWGFCTÇCKIWCNOGPVGFCËCFQ
GPRTQHWPFKFCFUKPQUGGUVCDNGEKGTCPHKNVTQURCTCFKHWPFKT
ITCDCEKQPGUFGRGTUQPCU
++0641&7%%+­0
.
'UVGHGPÍOGPQUQEKCNGPVQTPQCNCECRVCEKÍPFGKOCIGP[
UQPKFQJCRTQXQECFQGHGEVQUEQPVTCRWGUVQU
2QTWPNCFQGNTKGUIQFGCHGEVCEKÍPFGNQUFGTGEJQUKPFKXK
FWCNGUFGNCRGTUQPCUGJCKPETGOGPVCFQGPITCFQUWOQ
„2T»EVKEC(QTGPUG
™#EQTTCNCTCNKPHTCEVQT
QCEQTTCNCTCNEKWFCFCPQ!
0DULR$51$/'2
„,WTKURTWFGPEKC
+ORTQEGFGPVGCTEJKXQ
FGFGOCPFCRQTFGURKFQ (TCPEKUEQ,CXKGT8+'+4#/14#06'
CWVKNK\CEKÍPFGE»OCTCUFGXÇFGQFG†E»OCTCU9GD•
EQPGEVCFCUCQTFGPCFQTGUFGUKUVGOCUUQHKUVKECFQU
tRGTQ[CCNCNECPEGFGEWCNSWKGTCtFGECRVCEKÍPFG
KOCIGP[UQPKFQSWG†FKIKVCNK\CP•NCKPHQTOCEKÍP[RGTOK
VGPCNOCEGPCTNCEQRKCTNC[FKHWPFKTNCEQPVTGOGPFCHCEKNKFCF
EQPUVKVW[GWPQFGNQUHGPÍOGPQUCEVWCNGUO»UGPDQIC.C
HWGT\CFGNCKOCIGP
†O»UXCNGWPCKOCIGPSWGOKNRCNCDTCU•
FGEÇCGNTGHT»PGPWPQUVKGORQUGPNQUSWGPQRQFÇCUKSWKGTC
KOCIKPCTUGNCURQUKDKNKFCFGUCEVWCNGUFGECRVCEKÍPEQPUGTXC
EKÍP[TGRTQFWEEKÍPFGNCUKO»IGPGUGUGPGUVQUOQOGPVQU
O»UKORQTVCPVGSWGPWPEC
8KFGQXKIKNCPEKC[RTKXCEKFCF
)UDQFLVFR-DYLHU9,(,5$
025$17(
8KFGQXKIKNCPEKC[.G[
­OPKDWU
-XDQ/XLV0$57¨1(=
&$5$1'(&255$/
64+$70#
/DXWLOL]DFLÍQGHF¼PDUDVGHYÈGHR
GH‡F¼PDUDV:HE–FRQHFWDGDV
DRUGHQDGRUHVGHVLVWHPDVVRILVWLFDGRV
GHFDSWDFLÍQGHLPDJHQ\VRQLGR
TXH‡GLJLWDOL]DQ–ODLQIRUPDFLÍQ\SHUPLWHQ
DOPDFHQDUODFRSLDUOD\GLIXQGLUOD
FRQWUHPHQGDIDFLOLGDGFRQVWLWX\HXQR
GHORVIHQÍPHQRVDFWXDOHVP¼VHQERJD
/DIXHU]DGHODLPDJHQHVHQHVWRVPRPHQWRV
P¼VLPSRUWDQWHTXHQXQFD(VWHIHQÍPHQR
VRFLDOHQWRUQRDODFDSWDFLÍQGHLPDJHQ
\VRQLGRKDSURYRFDGRHIHFWRVFRQWUDSXHVWRV
„6TKDWPC
2QTEQPVTCUVGNCECRVCEKÍPFGKO»IGPGURGTOKVGCHTQPVCTEQP
OC[QTGUICTCPVÇCUNCNWEJCHTGPVGCFGVGTOKPCFQUEQORQT
VCOKGPVQUKNÇEKVQUSWGFGUITCEKCFCOGPVGJCPUWTIKFQQJCP
EQOGP\CFQCRTQNKHGTCTCORCTCFQURCTCFÍLKECOGPVGRQTWPC
UQEKGFCFO»UICTCPVKUVC&GUFGGNVGTTQTKUOQGPUWUFKHGTGPVGU
OCPKHGUVCEKQPGUJCUVCNQUEQORQTVCOKGPVQUKPUQEKCNGUFG
FGVGTOKPCFQUITWRQUQEQNGEVKXQUtFKHÇEKNOGPVGRGTUGIWK
DNGUEQPNQUOÃVQFQURQNKEKCNGUVTCFKEKQPCNGUtNCKPUVCNCEKÍP
FGUKUVGOCUFGITCDCEKÍPFGKOCIGPEQPQUKPUQPKFQJC
RGTOKVKFQCHTQPVCTNCKPXGUVKICEKÍP[RGTUGEWEKÍPFGOWEJQU
KNÇEKVQU[UGJCGTKIKFQGPWPKPUVTWOGPVQGURGEKCNOGPVGÔVKN
RCTCFKUWCFKTFGEQORQTVCOKGPVQUSWGCVCECPEQPOC[QTQ
OGPQTITCXGFCFCWPCEQPXKXGPEKCUQEKCNRCEÇHKEC[ICTCPVG
FGNQUFGTGEJQUFGNQUEKWFCFCPQUJQPTCFQU
'UGPGUVGEQORNGLQRCPQTCOCFQPFGWPCXG\O»UJC[SWG
DWUECTGNGSWKNKDTKQGPVTGNQUKPVGTGUGUGPHTGPVCFQU.CVCTGC
GUGURGEKCNOGPVGFKHÇEKNRQTEWCPVQNQUNÇOKVGUGPVTGWPQU
2TQITCOCTCFKQHÍPKEQ
GPGNSWGUGNNCOÍ
†OGPVKTQUQ•CWPLWG\
#EEKÍPFKTGEVC
FGNUWDEQPVTCVKUVC
EQPVTCGNEQOKVGPVG
2QUGUKÍPFGOCVGTKCN
RQTPQIT»HKEQVKRQFG
VGPGPEKCRCTCWUQRTQRKQ #PWNCEKÍPFGCWVQ
SWGCWVQTK\CDCFGURKFQ
EQNGEVKXQFGGORTGUC
EQPEWTUCFC
(CNNGEKOKGPVQFG
RCEKGPVGKPVGTXGPKFC
SWGPQHWGKPHQTOCFC
FGDKFCOGPVG
„4KPEÍPFG.GEVWTC
&GTGEJQRTKXCFQ[
IGUVKÍPWTDCPÇUVKEC
#URGEVQUUWUVCPVKXQU
[TGIKUVTCNGU
Tribunal Supremo
NCUGPVGPEKCFGNFÇC
1XOLGDGGHSUHFHSWRUHODWLYR
DODGHGXFFLÍQSRULQYHUVLRQHV
HQ,'HQHO,PSXHVWR
VREUH6RFLHGDGHV
3RQHQWH0DUWÈQ7LPÍQ
0DQXHO
.
FGOCT\QFG
YYYFKCTKQNCNG[GU
[QVTQUUQPGURGEKCNOGPVGFKHWUQUNCU
RQUKDKNKFCFGUFGEQPVTQNUGFKHWOKPCP
CPVGGNCXCPEGFGNCVGEPQNQIÇC[FGNCU
TGFGUFGEQOWPKECEKÍPOWPFKCNGU[
NCURTGUKQPGUFGNQUUGEVQTGUCHGEVCFQU
UQPGPCNIWPQUECUQUOW[KPVGPUCURC
TCRTQVGIGTCWNVTCP\CUWUKPVGTGUGU
++.#%1/+5+­0
&')#4#06§#5
&'.#8+&'18+)+.#0%+#
.CDÔUSWGFCFGGUVGGSWKNKDTKQGPVTG
NQUKPVGTGUGUCHGEVCFQURQTGNWUQFG
NCUITCDCEKQPGUCWFKQXKUWCNGUGPNWICTGU
RÔDNKEQUGUNCSWGFGVGTOKPCNCETGCEKÍP
FGNCU%QOKUKQPGUFG)CTCPVÇCUFGNC
8KFGQXKIKNCPEKC
2TGQEWRCFQGN.GIKUNCFQTRQTNCRTGXGP
EKÍPGPGURCEKQUCDKGTVQUCNRÔDNKEQ
FGCEVQUFGNKEVKXQUNCRTQVGEEKÍPFGNCU
RGTUQPCU[NCEQPUGTXCEKÍP[EWUVQFKCFG
DKGPGUSWGUGGPEWGPVTGPGPUKVWCEKÍPFG
RGNKITQNCU%QTVGU)GPGTCNGUCRTQDCTQP
NC.1FGFGCIQUVQRCTCTG
IWNCTGPGUG»ODKVQRÔDNKEQGNWUQFG
UKUVGOCUFGITCDCEKÍPFGKO»IGPGU[
UQPKFQU[UWRQUVGTKQTVTCVCOKGPVQRQT
OKGODTQUFGNCU(WGT\CU[%WGTRQUFG
5GIWTKFCFRTQVGIKGPFQCNOKUOQVKGO
RQGNGLGTEKEKQFGNQUFGTGEJQU[NKDGTVC
FGUTGEQPQEKFQUGPNC%QPUVKVWEKÍP
#VCNGHGEVQGUVC.G[1TI»PKECEQP
VGORNCNCKPVGTXGPEKÍPEQOQÍTICPQ
EQPUWNVKXQtXKPEWNCPVGGPFGVGTOK
PCFQU ECUQUt FG WPC %QOKUKÍP GP
ECFC%QOWPKFCF#WVÍPQOCRTGUKFKFC
RQTGN2TGUKFGPVGFGN6TKDWPCN5WRGTKQT
FG,WUVKEKCCNCSWGGNRQUVGTKQT4GINC
OGPVQFKEVCFQGPFGUCTTQNNQFGNC.G[
CRTQDCFQRQT4&FGFG
CDTKNFGPQOKPÍHKPCNOGPVG%QOKUKÍP
FG)CTCPVÇCUFGNC8KFGQXKIKNCPEKCKP
VTQFWEKGPFQCUÇGPUWFGPQOKPCEKÍPC
UWIGTGPEKCFGN%QPUGLQ)GPGTCNFGN2Q
FGT,WFKEKCN
WPOCVK\SWGFGUVCECUG
UWPCVWTCNG\CFGICTCPVÇC
%QORQUKEKÍP
%QP NC KPVGTXGPEKÍP GPVTG UWU EQO
RQPGPVGUFGN2TGUKFGPVGFGN6TKDWPCN
5WRGTKQTFG,WUVKEKCtSWGCEVÔCÔPK
ECOGPVG GP HWPEKQPGU IWDGTPCVKXCU
PQLWTKUFKEEKQPCNGUtFGN(KUECN,GHGFGN
6TKDWPCN5WRGTKQTFG,WUVKEKC
CJQTC(KU
ECN5WRGTKQTFGNC%QOWPKFCF#WVÍPQ
OCFGWP#DQICFQFGN'UVCFQFGUKIPC
FQRQTGN&KTGEVQTFGN5GTXKEKQ,WTÇFKEQ
FGN'UVCFQFGWPTGRTGUGPVCPVGFGNC
#FOKPKUVTCEKÍP)GPGTCNFGN'UVCFQFG
UKIPCFQRQTGN5GETGVCTKQFG'UVCFQFG
5GIWTKFCFFGWP#NECNFGFGUKIPCFQRQT
NC#UQEKCEKÍPFGOWPKEKRKQUFG»ODKVQ
CWVQPÍOKEQEQPOC[QTKORNCPVCEKÍP[
FGN5GETGVCTKQ)GPGTCNFGNC&GNGICEKÍP
FGN)QDKGTPQFGNC%QOWPKFCF#WVÍ
PQOCtSWGCUKUVGCNCUTGWPKQPGUEQP
XQ\[UKPXQVQtRGTQUKPSWGRWGFCP
UGTOC[QTÇCGPPKPIÔPECUQNQUOKGO
DTQUFGRGPFKGPVGUFGNC#FOKPKUVTCEKÍP
CWVQTK\CPVG
)QDKGTPQUGIÔPGNCTV
.1UGJCVTCVCFQFGRQVGPEKCT
GPGUVC%QOKUKÍPNCRTQVGEEKÍPFGNQU
FGTGEJQU[NKDGTVCFGUHWPFCOGPVCNGUFG
NCURGTUQPCUFGICTCPVK\CTUWGLGTEKEKQ
OGFKCPVGNCKPVGTXGPEKÍPFGNQUO»ZK
OQUTGRTGUGPVCPVGUCWVQPÍOKEQUFGN
NQU6TKDWPCNGU[FG(KUECNÇCFKTKOKGP
FQKPENWUQEQPUWXQVQFGECNKFCFGN
2TGUKFGPVGNCUXQVCEKQPGUGPECUQFG
GORCVG
›ODKVQFGKPVGTXGPEKÍP
FGNC%QOKUKÍPFG)CTCPVÇCU
.C.1NKOKVCUWTGIWNCEKÍPCNC
WVKNK\CEKÍPRQTNCU(WGT\CU[%WGTRQU
FG 5GIWTKFCF FG XKFGQE»OCTCU RCTC
ITCDCTKO»IGPGU[UQPKFQUGPNWICTGU
RÔDNKEQUCDKGTVQUQEGTTCFQU
%QPHQTOGCGUVCHKPCNKFCFSWGFCPGZ
ENWKFCUFGNCUFKURQUKEKQPGUFGGUC.G[
NCUITCDCEKQPGUTGCNK\CFCUGPWP»ODKVQ
RTKXCFQ2GTQVCODKÃPCNIWPQUOQFQU
FGWVKNK\CEKÍPFGXKFGQE»OCTCUGPNW
ICTGURÔDNKEQUSWGFCPGZENWKFQUFGNC
CRNKECEKÍPFGGUVC.G[
t'PRTKOGTNWICTNCKPUVCNCEKÍP[WUQ
FGXKFGQE»OCTCU[FGEWCNSWKGTQVTQ
OGFKQ FG ECRVCEKÍP [ TGRTQFWEEKÍP
FGKO»IGPGURCTCGNEQPVTQNTGIWNC
EKÍPXKIKNCPEKC[FKUEKRNKPCFGNVT»HKEQ
UGGHGEVWCT»UGIÔPGUVCDNGEGNCFKUR
CFKE….1RQTNCCWVQTKFCF
GPECTICFCFGNCTGIWNCEKÍPFGNVT»HKEQC
NQUHKPGURTGXKUVQUGPGNVGZVQCTVKEWNCFQ
FGNC.G[UQDTG6T»HKEQ%KTEWNCEKÍPFG
8GJÇEWNQUC/QVQT[5GIWTKFCF8KCNUKP
RGTLWKEKQFGCVGPGTUGCNQFKURWGUVQGP
NC.G[FG2TQVGEEKÍPFG&CVQUFG%CT»E
VGT2GTUQPCN[GPNC.G[FG2TQVGEEKÍP
%KXKNFGN&GTGEJQCN*QPQTCNC+PVKOK
FCF2GTUQPCN[(COKNKCT[CNC2TQRKC
+OCIGP[CLWUVCTUGCNQURTKPEKRKQUFG
NCEKVCFC.1
t4GURGEVQCNCUE»OCTCURCTCNCRTQ
VGEEKÍPFGKPOWGDNGURWGFGPEQPVGO
RNCTUGFQUUKVWCEKQPGU
r+PUVCNCEKQPGUHKLCUFGXKFGQE»OCTCU
TGCNK\CFCURQTNCU(WGT\CU#TOCFCU[NCU
(WGT\CU[%WGTRQUFG5GIWTKFCFGPUWU
KPOWGDNGUSWGPQGUVCT»PUQOGVKFCUC
NCUGZKIGPEKCUFGNC.1UKGORTG
SWGÃUVCUUGFGFKSWGPGZENWUKXCOGPVG
CICTCPVK\CTNCUGIWTKFCF[RTQVGEEKÍP
KPVGTKQTQGZVGTKQTFGNQUOKUOQU
CTV
4GINCOGPVQ
r+PUVCNCEKÍPFGXKFGQE»OCTCUHKLCUGP
KPOWGDNGU[GFKHKEKQURÔDNKEQUFGNQU
SWGPQUGCPVKVWNCTGUFKEJCU(WGT\CU[
%WGTRQUFG5GIWTKFCF
t5KGZKUVGRQTRCTVGRQNKEKCNWPEQP
VTQN[FKTGEEKÍPGHGEVKXCFGNRTQEGUQ
EQORNGVQFGECRVCEKÍPITCDCEKÍPXK
UKQPCFQ[EWUVQFKCFGNCUKO»IGPGU[
UQPKFQUUGT»FGCRNKECEKÍPNQRTGXKUVQ
GPNC.1[GPUW4GINCOGPVQ
CTVR»TTCHQRTKOGTQ4GINCOGPVQ
t5KNCWVKNK\CEKÍPFGNCUKPUVCNCEKQPGU
HKLCUFGXKFGQE»OCTCUVKGPGEQOQÔPKEC
HKPCNKFCFICTCPVK\CTNCUGIWTKFCF[RTQ
VGEEKÍPKPVGTKQTQGZVGTKQTFGNQUKPOWG
DNGUSWGUGGPEWGPVTGPDCLQNCXKIKNCPEKC
FGNCU(WGT\CU[%WGTRQUFG5GIWTKFCF
UGT»FGCRNKECEKÍPGNTÃIKOGPRTGXKUVQ
RCTCNQUKPOWGDNGUVKVWNCTKFCFFGGUVCU
(WGT\CU[%WGTRQU
t%CRVCEKÍPFGKO»IGPGURQTNCRQNKEÇC
LWFKEKCN.CUWPKFCFGUFG2QNKEÇC,WFKEKCN
TGIWNCFCUGPNCNGIKUNCEKÍPFG(WGT\CU
[ %WGTRQU FG 5GIWTKFCF EWCPFQ GP
GNFGUGORGËQFGHWPEKQPGUFGRQNKEÇC
LWFKEKCN GP UGPVKFQ GUVTKEVQ TGCNKEGP
ECRVCEKQPGU FG KO»IGPGU [ UQPKFQU
OGFKCPVGXKFGQE»OCTCUUGTGIKT»PRQT
NC.G[FG'PLWKEKCOKGPVQ%TKOKPCN[RQT
UWPQTOCVKXCGURGEÇHKEC
CTV4GINC
OGPVQ
%QORGVGPEKCUFGNC%QOKUKÍP
FG)CTCPVÇCUFGNC8KFGQXKIKNCPEKC
%QPEGDKFC GUVC %QOKUKÍP EQOQ WP
ÍTICPQEQPUWNVKXQtEW[QKPHQTOGGU
XKPEWNCPVGRCTCNCFGEKUKÍPFGNC&G
NGICEKÍPFGN)QDKGTPQEWCPFQCSWÃNNC
GUVKOGSWGNCKPUVCNCEKÍPUWRQPFTÇCWPC
XWNPGTCEKÍPFGNQUETKVGTKQUGUVCDNGEKFQU
GPGNCTV.1
CUGIWTCTNCRTQ
VGEEKÍPFGNQUGFKHKEKQUGKPUVCNCEKQPGU
RÔDNKECU[FGUWUCEEGUQUUCNXCIWCTFCT
NCUKPUVCNCEKQPGUÔVKNGURCTCNCFGHGPUC
PCEKQPCNEQPUVCVCTKPHTCEEKQPGUCNC
UGIWTKFCFEKWFCFCPC[RTGXGPKTNCECW
UCEKÍPFGFCËQUCNCURGTUQPCU[DKG
PGUtNCKPVGTXGPEKÍPFGNC%QOKUKÍP
UGEQPVGORNCGPXCTKCUUKVWCEKQPGU
C 'P NC CWVQTK\CEKÍP FG NCU KPUVCNC
EKQPGUHKLCU[GPNCTGPQXCEKÍPFGNCU
CWVQTK\CEKQPGU
CTV4GINCOGPVQ
'PVGPFKFCUNCUKPUVCNCEKQPGUHKLCUEQOQ
GNOQPVCLGFGXKFGQE»OCTCUGUVCDNGU
GPNCUEQTTGURQPFKGPVGUWDKECEKQPGU
CWPSWGRGTOKVCPGNFGURNC\COKGPVQFGN
OGECPKUOQRCTCECRVCTKO»IGPGUGPWP
FGVGTOKPCFQTCFKQFGCEEKÍPGURTGEGR
VKXQSWGNCTGUQNWEKÍPFGNNC&GNGICFQC
FGN)QDKGTPQGUVÃRTGEGFKFCFGNEQTTGU
RQPFKGPVGKPHQTOGFGNC%QOKUKÍPFG
)CTCPVÇCUFGNC8KFGQXKIKNCPEKC4GOKVK
FCCGUVC%QOKUKÍPNCUQNKEKVWFFGKPUVC
NCEKÍPHKLCFGXKFGQE»OCTCUGPGNRNC\Q
O»ZKOQFGWPOGUEQPVCFQFGUFGUW
TGEGREKÍPFGDGT»GOKVKTKPHQTOGCNTGU
RGEVQHCXQTCDNGQFGUHCXQTCDNG;EQP
HQTOGCNCTVFGNEKVCFQ4GINCOGPVQ
VLHOLQIRUPHGHOD&RPLVLÍQFRQVLGHUD
TXHODVROLFLWXGYXOQHUDORVFULWHULRVGHO
DUW/2QRSRGU¼DXWRUL]DUVH
ODLQVWDODFLÍQ'UVQGUNCTGUQNWEKÍPFGN
NC&GNGICFQCFGN)QDKGTPQVKGPGSWG
UGTPGEGUCTKCOGPVGFGPGICVQTKCFGNC
CWVQTK\CEKÍPRCTCKPUVCNCTGUCUE»OCTCU
EWCPFQNC%QOKUKÍPFG)CTCPVÇCUNNGIWG
CNCEQPENWUKÍPFGSWGNCKPUVCNCEKÍPFG
XKFGQE»OCTCUUQNKEKVCFCPQVKGPGCNIWPC
FGNCUUKIWKGPVGUHKPCNKFCFGU
t#UGIWTCTNCRTQVGEEKÍPFGNQUGFKHKEKQU
GKPUVCNCEKQPGURÔDNKECUQFGUWUCEEGUQU
t5CNXCIWCTFCTNCUKPUVCNCEKQPGUÔVKNGU
RCTCNCFGHGPUCPCEKQPCN
t%QPUVCVCTKPHTCEEKQPGUCNCUGIWTKFCF
EKWFCFCPC
t1RTGXGPKTNCECWUCEKÍPFGFCËQUC
NCURGTUQPCU[DKGPGU
D'PGNWUQFGXKFGQE»OCTCUOÍXKNGUNC
KPVGTXGPEKÍPFGNC%QOKUKÍPFG)CTCP
VÇCUPQGURTGXKCCNCCWVQTK\CEKÍPRCTC
UWWUQUKPQRQUVGTKQTEQPVGORN»PFQUG
NCUUKIWKGPVGUUKVWCEKQPGU
t .CU TGUQNWEKQPGU OQVKXCFCU FG
CWVQTK\CEKÍPFGNWUQFGXKFGQE»OCTCU
OÍXKNGUGPNWICTGURÔDNKEQUCFQRVCFCU
RQTGNO»ZKOQTGURQPUCDNGRTQXKPEKCN
FGNCU(WGT\CU[%WGTRQUFG5GIWTKFCF
CTV.1GUVQGUGN&GNGIC
FQQGN5WDFGNGICFQFGDGPUGTRWGUVCU
GPEQPQEKOKGPVQFGNC%QOKUKÍPGPGN
RNC\QO»ZKOQFGJQTCU;NC%Q
OKUKÍPRQFT»TGECDCTGNUQRQTVGHÇUKEQ
FGNCITCDCEKÍPCGHGEVQUFGGOKVKTGN
EQTTGURQPFKGPVGKPHQTOGSWGFGUGT
PGICVKXQ FGVGTOKPCT» NC KPOGFKCVC
FGUVTWEEKÍPFGNCITCDCEKÍP
CTV
ÔNVKOQR»TTCHQ.1
t'PECUQFGWUQGZEGREKQPCNFGNCU
XKFGQE»OCTCU OÍXKNGU FG WTIGPEKC
O»ZKOCQFGKORQUKDKNKFCFFGQDVGPGTC
VKGORQNCCWVQTK\CEKÍPNQUOKGODTQUFG
NCU(WGT\CU[%WGTRQUFG5GIWTKFCFSWG
TGCNKEGPNCITCDCEKÍPFGDGT»PEQOWPK
ECTGPGNRNC\QFGXGKPVKEWCVTQJQTCUCN
&GNGICFQFGN)QDKGTPQ
QCN5WDFGNGIC
FQGPNCU2TQXKPEKCUFQPFGPQTCFKSWG
NCUGFGFGNC&GNGICEKÍPFGN)QDKGTPQ
[GPNCUUKIWKGPVGUXGKPVKEWCVTQJQTCUNG
TGOKVKT»PKPGNWFKDNGOGPVGWPKPHQTOG
OQVKXCFQCNTGURGEVQ&KEJCCWVQTKFCF
GPGNRNC\QO»ZKOQFGUGVGPVC[FQU
JQTCUFGUFGSWGUGTGCNK\ÍNCITCDC
EKÍPNQRQPFT»GPEQPQEKOKGPVQFGNC
%QOKUKÍPFG)CTCPVÇCUFGNC8KFGQXKIK
NCPEKCEQTTGURQPFKGPVGTGOKVKÃPFQUG
CFGO»UGNCNWFKFQKPHQTOGOQVKXCFQ
.C%QOKUKÍPFG)CTCPVÇCUUKNQGUVKOC
QRQTVWPQRQFT»TGSWGTKTNCGPVTGICFGN
UQRQTVGHÇUKEQQTKIKPCNFGNCITCDCEKÍP
RCTCGOKVKTGNEQTTGURQPFKGPVGKPHQTOG
#NKIWCNSWGGPGNCPVGTKQTECUQFGUGT
PGICVKXQGNKPHQTOGFGDGT»FGUVTWKTUG
NCITCDCEKÍPFGKPOGFKCVQ
t+IWCNOGPVGNC%QOKUKÍPFG)CTCPVÇCU
FGDGUGTKPHQTOCFCSWKPEGPCNOGPVGFG
NCWVKNK\CEKÍPSWGUGJCICFGNCUXKFGQ
E»OCTCUOÍXKNGURWFKGPFQTGECDCTGP
FGOCT\QFG
YYYFKCTKQNCNG[GU
VQFQOQOGPVQGNUQRQTVG[GOKVKTKP
HQTOGCNTGURGEVQ
CTV.1
t;HKPCNOGPVGTGURGEVQFGGUVCUXK
FGQE»OCTCUOÍXKNGUNC%QOKUKÍPFGDG
GOKVKTKPHQTOGCRGVKEKÍPFGNCUCWVQ
TKFCFGUEQORGVGPVGUUQDTGNCCFGEWC
EKÍPFGEWCNSWKGTTGIKUVTQFGKO»IGPGU
[UQPKFQCNQURTKPEKRKQUGPWPEKCFQUGP
GNCTV.1=CTVU.1
[G4GINCOGPVQ?
E6CPVQTGURGEVQFGXKFGQE»OCTCUHK
LCUEQOQOÍXKNGUNC%QOKUKÍPRWGFG
TGSWGTKTCNCUCWVQTKFCFGUTGURQPUCDNGU
NCKPHQTOCEKÍPPGEGUCTKCRCTCGNGLGTEK
EKQFGUWUHWPEKQPGU[HQTOWNCTEWCPVCU
TGEQOGPFCEKQPGUGUVKOGQRQTVWPCUGP
GN»ODKVQFGUWUEQORGVGPEKCU=CTV
I[J4GINCOGPVQ?
2TKPEKRKQUSWGFGDGPIWKCT
NQUKPHQTOGUFGNC%QOKUKÍP
FG)CTCPVÇCUFGNC8KFGQXKIKNCPEKC
'PGNCTV.1UGGUVCDNGEGPNQU
RTKPEKRKQUFGWVKNK\CEKÍPFGNCUXKFGQE»
OCTCURTKPEKRKQUSWGTKIGPVCPVQRCTC
NCUHKLCUEQOQRCTCNCUOÍXKNGU
t2TQRQTEKQPCNKFCFGPUWFQDNGXGT
UKÍPFG
r+FQPGKFCFUÍNQEWCPFQTGUWNVGCFG
EWCFQGPWPCUKVWCEKÍPEQPETGVCRC
TCGNOCPVGPKOKGPVQFGNCUGIWTKFCF
EKWFCFCPC'PGUVGUGPVKFQNC+PUVTWE
EKÍPFGFGPQXKGODTGUQDTG
†6TCVCOKGPVQFGFCVQURGTUQPCNGUEQP
HKPGUFGXKIKNCPEKCCVTCXÃUFGUKUVGOCU
FGE»OCTCUQXKFGQE»OCTCU•RTGEKUC
SWGVÍORVHFRQVLGHUDU¼DGPLVLEOHODLQV
WDODFLÍQGHÄVWDVFXDQGRODILQDOLGDGGH
YLJLODQFLDQRSXHGHREWHQHUVHPHGLDQ
WHRWURVPHGLRVTXHVLQH[LJLUHVIXHU]RV
GHVSURSRUFLRQDGRV UHVXOWHQ PHQRV
LQWUXVLWRVSDUDODLQWLPLGDGGHODVSHUVR
QDV\SDUDVXGHUHFKRDODSURWHFFLÍQGH
GDWRVGHFDU¼FWHUSHUVRQDO
r+PVGTXGPEKÍPOÇPKOCRQPFGTCEKÍPGP
ECFCECUQGPVTGNCHKPCNKFCFRTGVGPFKFC
[NCRQUKDNGCHGEVCEKÍPCNFGTGEJQCNJQ
PQTCNCRTQRKCKOCIGP[CNCKPVKOKFCF
FGNCURGTUQPCU
t'ZKUVGPEKCFGTC\QPCDNGTKGUIQRCTC
NCUGIWTKFCFEKWFCFCPCGPGNECUQFG
NCUXKFGQE»OCTCUHKLCUQFGWPRGNKITQ
EQPETGVQGPNCUOÍXKNGU%QOQUGËCNÍGN
%)2,GPUWKPHQTOGUQDTGGNRTQ[GEVQFG
4GINCOGPVQNCUCEVKXKFCFGUFGXKFGQXK
IKNCPEKCOGFKCPVGKPUVCNCEKQPGUHKLCURQT
UWECT»EVGTIGPGTCNGKPFKUETKOKPCFQFG
DGTÇCPSWGFCTTGHGTKFCUCWPQU»ODKVQU
GURCEKCNGU[VGORQTCNGURGTHGEVCOGPVG
FGNKOKVCFQUEW[CXKIKNCPEKCUGLWUVKHKSWG
GPVÃTOKPQUFGWPRGNKITQENCTQCEVWCN
GKPOKPGPVGPQOGTCOGPVGRQVGPEKCN
RCTCNCUGIWTKFCFFGRGTUQPCU[DKGPGU
FGDKFQCNCGZKUVGPEKCFGWPCCEVKXKFCF
FGNKEVKXCFGOC[QTITCXGFCF[RGNKITQUK
FCFSWGNQUÇPFKEGUSWGRWFKGTCPRTGUGP
VCTUGGPQVTQUNWICTGU
t2TQJKDKEKÍPFGWVKNK\CEKÍPFGXKFGQ
E»OCTCURCTCVQOCTKO»IGPGUQUQPK
FQUFGNKPVGTKQTFGNCUXKXKGPFCUPKFG
UWUXGUVÇDWNQU
UCNXQEQPUGPVKOKGPVQFG
UWVKVWNCTQCWVQTK\CEKÍPLWFKEKCN
RQFT»UWRGTCTGNO»ZKOQFGWPOGU
GUVCDNGEKFQGPGNCTV.1[
GNFGN4GINCOGPVQUCNXQSWGGUVÃP
TGNCEKQPCFCUEQPKPHTCEEKQPGURGPCNGUQ
CFOKPKUVTCVKXCUITCXGUQOW[ITCXGUGP
OCVGTKCFGUGIWTKFCFRÔDNKEC
+PVGTXGPEKQPGUFGNC%QOKUKÍP
FG)CTCPVÇCUFGNC8KFGQXKIKNCPEKC
FG/CFTKF
&GUFGNCETGCEKÍPGPGNCËQFG
NC%QOKUKÍPFG)CTCPVÇCUFG8KFGQXK
IKNCPEKCUGJCRTQFWEKFQWPRCWNCVKPQ
KPETGOGPVQFGNCURGVKEKQPGUFGKPUVC
NCEKQPGUHKLCUCUÇEQOQFGNCWVKNK\CEKÍP
FGE»OCTCUOÍXKNGU
t*CUVCGNCËQUÍNQUGCWVQTK\Í
WPCKPUVCNCEKÍPFGE»OCTCUHKLCUSWG
UGHWGTGPQXCPFQVQFQUNQUCËQU[UG
OCPVKGPGGPNCCEVWCNKFCF
t#HKPCNGUFGNCËQUGOCPVG
PÇCPFQUKPUVCNCEKQPGUHKLCUGUVCDNGU[
UGJCDÇCCWVQTK\CFQQVTCKPUVCNCEKÍPFG
E»OCTCUFWTCPVGWPRGTÇQFQFGVGTOK
PCFQ
0CXKFCFGUCWVQTK\CEKÍPSWGUG
TGRTQFWLQGPCËQUUWEGUKXQU
t2TQJKDKEKÍPFGVQOCTKO»IGPGUGP
NWICTGURÔDNKEQUCDKGTVQUQEGTTCFQU
EWCPFQUGCHGEVGFGHQTOCFKTGEVC[
ITCXGCNCKPVKOKFCFFGNCURGTUQPCU
QEWCPFQUGITCDGPEQPXGTUCEKQPGUFG
PCVWTCNG\CGUVTKEVCOGPVGRTKXCFC
t.COKUOCUKVWCEKÍPUGOCPVWXQGP
NQUCËQU[
,WPVQCGUVQURTKPEKRKQUNC%QOKUKÍPFG
)CTCPVÇCUFGDGCPCNK\CTUKNCUUQNKEKVWFGU
FGKPUVCNCEKÍPFGE»OCTCUHKLCUTGÔPGP
GNTGUVQFGNQUTGSWKUKVQUHQTOCNGUGZK
IKFQUGPGNCTVFGN4GINCOGPVQ[UK
GNRTQ[GEVQFGKPUVCNCEKÍPEWORNGEQP
NCUICTCPVÇCUVÃEPKECUSWGCUGIWTGPNC
EWUVQFKC[EQTTGEVQVTCVCOKGPVQFGNCU
ITCDCEKQPGUCUÇEQOQGNEWORNKOKGP
VQFGNQUEQORTQOKUQUFGFGUVTWEEKÍP
FGNCUOKUOCUFGPVTQFGNRNC\QFGVGT
OKPCFQGPNCCWVQTK\CEKÍPSWGPWPEC
t;GNCËQUGJCPCWVQTK\CFQ
QVTCUEWCVTQKPUVCNCEKQPGUO»UFGE»
OCTCUHKLCU
t'PCNCËQUGKPHQTOÍHCXQTCDNG
OGPVGCWPCCORNKCEKÍP[UGTGPQXCTQP
NCUCWVQTK\CEKQPGUCPVGTKQTGU
'NOKUOQKPETGOGPVQRWGFGCRTGEKCTUG
TGURGEVQFGNCWVKNK\CEKÍPFGE»OCTCU
OÍXKNGUFGNCUVTGEGEQOWPKECEKQPGU
TGCNK\CFCUGPGNCËQUGJCRCUCFQ
CXGKPVKEKPEQPQVKHKECEKQPGUGPGNCËQ
JCDKÃPFQUGRTQFWEKFQGPVQFQU
NQUCËQUFGCEVWCEKÍPFGNC%QOKUKÍP
FG)CTCPVÇCUFGNC8KFGQXKIKNCPEKCWPC
UQNCEQOWPKECEKÍPFGNCTGCNK\CEKÍPFG
ITCDCEKÍPRQTTC\QPGUFGWTIGPEKC
&GDGFGUVCECTUGPQQDUVCPVGSWGNC
%QOKUKÍPJCKPHQTOCFQFGUHCXQTCDNG
OGPVGGPEWCVTQQECUKQPGUCQVTCUVCP
VCUUQNKEKVWFGUFGKPUVCNCEKÍPFGE»OC
TCUHKLCUCRCTVGFGJCDGTUGRTQPWPEKCFQ
GPXCTKCUQECUKQPGUUQDTGUWHCNVCFG
EQORGVGPEKCRQTVTCVCTUGFGKPUVCNC
EKQPGUPQCHGEVCFCURQTNC.1
EQOQNCUFGFKECFCUCNCTGIWNCEKÍPFGN
VT»HKEQ
.CTGHNGZKÍPSWGRWGFGGZVTCGTUGFG
NQUCPVGTKQTGUFCVQUGUGUVKOQSWGUG
GUV»TGCNK\CPFQWPWUQOQFGTCFQGP
/CFTKFFGNCWVKNK\CEKÍPFGNCUXKFGQXK
IKNCPEKCU[SWGGUV»UKGPFQTKIWTQUQ[
HKCDNGGNVTCVCOKGPVQFGNCUITCDCEKQPGU
GHGEVWCFCU
2GTQFGDGOQUJWKTFGVQFQUGPVKOKGPVQ
FGEQORNCEGPEKCGPGUVG»ODKVQRWGU
NQUDKGPGUGPRGNKITQUQPOW[KORQT
VCPVGU[GNTKGUIQFGNGUKÍPFGNQUOKU
OQUUGCETGEKGPVCEQPVKPWCOGPVGCPVG
GNCXCPEGFGNCVÃEPKEC[NCUOC[QTGU
HCEKNKFCFGUEQPNCUSWGUGEWGPVCRCTC
KPXCFKTNCKPVKOKFCFFGNCURGTUQPCUC
VTCXÃUFGNWUQFGOGFKQUUQHKUVKECFQUCN
CNECPEGFGECFCXG\WPOC[QTPÔOGTQ
FGRGTUQPCU„
016#5
SXEOLFDFLRQHVFRPPRQSGIVJXLDB
YLGHRYLJLODQFLDSGI
(VPX\LOXVWUDWLYDODFRQVXOWD
GHOD‡*XLDGHOD9LGHRYLJLODQFLD–
HGLWDGDSRUOD$JHQFLD(VSDËROD
GH3URWHFFLÍQGH'DWRVDFFHVLEOH
HQ,QWHUQHWKWWSVZZZDJSGHV
SRUWDOZHEFDQDOGRFXPHQWDFLRQ
,QIRUPHDO3UR\HFWRGH5HDO'HFUHWR
SRUHOTXHVHDSUXHEDHO5HJODPHQWR
GHHMHFXFLÍQ\GHVDUUROORGHOD/2
DSUREDGRSRUHO&RQVHMR*HQHUDOGHO3RGHU
-XGLFLDOHQVXUHXQLÍQ3OHQDULDGH
GHHQHURGH
ahora...
• Nuevo diseño
• Más intuitivo y flexible
• Alto nivel
de personalización
• Nuevo gestor de avisos
• Enlace con Lexnet
• Cumplimiento
de la LOPD
SERVICIO DE ATENCIÓN AL CLIENTE:
902 250 500 tel • 902 250 502 fax • clientes@laley.es • www.laley.es
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
FGOCT\QFG
YYYFKCTKQNCNG[GU
GHDSDUDWRVGLVSRVLWLYRV\VLVWHPDVGH
VHJXULGDGr(VWDSUHYLVLÍQVHUHLWHUDHQ
HODUWÈFXORGHO5HJODPHQWRGH6HJXUL
GDG3ULYDGDDSUREDGRSRU5HDOGHFUHWR
GHGHGLFLHPEUH563
Tribuna
9LGHRYLJLODQFLD\/H\
®PQLEXV
.#.';
8KFGQXKIKNCPEKC[.G[
­OPKDWUNGIKVKOCEKÍP
RCTCGNVTCVCOKGPVQFGFCVQU
RGTUQPCNGUOGFKCPVGE»OCTCU
FGXKFGQXKIKNCPEKC
,WCP.WKU/#46§0'<%#4#0&'%144#.
6RFLRGH6LJPD'DWD6HFXULW\&RQVXOWLQJ6/
(ODUWÈFXORWUDWDVREUHODOHJLWLPDFLÍQSDUDHOWUDWDPLHQWR
GHGDWRVSHUVRQDOHVPHGLDQWHODJUDEDFLÍQGHLP¼JHQHV
SRUODVF¼PDUDVGHYLGHRYLJLODQFLD\FRQFUHWDPHQWHVREUH
FÍPRSXHGHYHUVHDIHFWDGRSRUODHQWUDGDHQYLJRUGHOD/H\
®PQLEXVFX\DGLVSRVLFLÍQDGLFLRQDOVH[WDKDOLEHUDOL]DGR
ODLQVWDODFLÍQGHGLFKDVF¼PDUDV
.
C.1FG2TQVGEEKÍPFG
&CVQUFG%CT»EVGT2GTUQPCN
.1
2&TGIWNCGNEQPUGPVKOKGPVQGP
UWCTVUGIÔPGNEWCN†GNVTCVCOKGPVQ
FGNQUFCVQUFGECT»EVGTRGTUQPCNTGSWG
TKT»GNEQPUGPVKOKGPVQKPGSWÇXQEQFGN
CHGEVCFQUCNXQSWGNC.G[FKURQPICQVTC
EQUC•
'NCRCTVCFQFGFKEJQCTVÇEWNQRQTUW
RCTVGTGIWNCFGVGTOKPCFQUUWRWGUVQU
GPSWGFKEJQEQPUGPVKOKGPVQPQGURTG
EKUQFCVQUTGEQIKFQURCTCGNGLGTEKEKQFG
NCUHWPEKQPGURTQRKCUFGNCU#FOKPKU
VTCEKQPGU2ÔDNKECUGPGN»ODKVQFGUWU
EQORGVGPEKCUFCVQUPGEGUCTKQURCTCGN
EWORNKOKGPVQFGWPCTGNCEKÍPLWTÇFKEC
EQPVTCEVWCNFCVQUEW[QVTCVCOKGPVQ
VGPICRQTHKPCNKFCFRTQVGIGTWPKPVGTÃU
XKVCNFGNKPVGTGUCFQQFCVQUSWGHKIWTGP
GPHWGPVGUCEEGUKDNGUCNRÔDNKEQ
.CPGEGUKFCFNGICNFGQDVGPGTGNEQPUGPVK
OKGPVQRCTCNCITCDCEKÍPFGFCVQURGTUQ
PCNGUEQPETGVCOGPVGKO»IGPGUOGFKCPVG
E»OCTCUFGXKFGQXKIKNCPEKCJCUKFQCDQTFC
FCRQTNC#IGPEKC'URCËQNCFG2TQVGEEKÍP
FG&CVQU
#'2&GPFKXGTUQUKPHQTOGU
CUÇ
GN[GN5GIÔPNC
FQEVTKPCFGNC#IGPEKCGNVTCVCOKGPVQPQ
RTGEKUCGNEQPUGPVKOKGPVQFGNCHGEVCFQ
FCFQSWGWPC.G[EQPETGVCOGPVGNC.
FG5GIWTKFCF%KWFCFCPCJCDKNKVC
NCUITCDCEKQPGUUKPFKEJQEQPUGPVKOKGPVQ
EWORNKÃPFQUGNQFKURWGUVQGPGNCTV
LQILQH.12&
%QPETGVCOGPVGGNKPHQTOG
FKEG
‡(QFRQVHFXHQFLDVLUHVXOWDLPSRVLEOH
REWHQHUHOFRQVHQWLPLHQWRGHFDGDFOLHQ
WHTXHDFFHGDDOWD[LHVSUHFLVRDFXGLUD
DOJXQD/H\TXHOHJLWLPHHOWUDWDPLHQWR
/D/H\TXHUHVXOWDUÈDDSOLFDEOHHQUHOD
FLÍQFRQHOWUDWDPLHQWRGHLP¼JHQHVHV
OD/H\GHGHMXOLRGH6HJX
ULGDG3ULYDGD/63TXHUHJXODVHJÔQVX
DUWÈFXORqODSUHVWDFLÍQSRUSHUVRQDV
IÈVLFDVRMXUÈGLFDVSULYDGDVGHVHUYLFLRGH
YLJLODQFLD\VHJXULGDGGHSHUVRQDVRGH
ELHQHV TXH WHQGU¼Q OD FRQVLGHUDFLÍQ
GHDFWLYLGDGHVFRPSOHPHQWDULDV\VX
ERUGLQDGDVUHVSHFWRDODVGHVHJXULGDG
SÔEOLFDr
$VLPLVPRDËDGHHODUWÈFXORTXHq$
ORVHIHFWRVGHODSUHVHQWH/H\ÔQLFD
PHQWHSXHGHQUHDOL]DUDFWLYLGDGHVGH
VHJXULGDGSULYDGD\SUHVWDUVHUYLFLRVGH
HVWDQDWXUDOH]DODVHPSUHVDVGHVHJXUL
GDG\HOSHUVRQDOGHVHJXULGDGSULYDGD
TXHHVWDU¼LQWHJUDGRSRUORVYLJLODQWHV
GHVHJXULGDGORVMHIHVGHVHJXULGDG\ORV
HVFROWDVSULYDGRVTXHWUDEDMHQHQDTXÄ
OODVORVJXDUGDVSDUWLFXODUHVGHOFDPSR
\ORVGHWHFWLYHVSULYDGRVrVLQSHUMXLFLR
GHODVHVSHFLDOLGDGHVTXHVHDQDOL]DU¼Q
SRVWHULRUPHQWHSUHYLVWDVHQODVQRUPDV
UHJXODGRUDVHQJHQHUDOGHODVHJXULGDG
FLXGDGDQD
(ODUWÈFXORHGHOD/63GLVSRQHTXH
q&RQVXMHFLÍQDORGLVSXHVWRHQODSUH
VHQWH/H\\HQODVQRUPDVUHJODPHQWD
ULDVTXHODGHVDUUROOHQODVHPSUHVDVGH
VHJXULGDGÔQLFDPHQWHSRGU¼QSUHVWDUR
GHVDUUROODUORVVLJXLHQWHVVHUYLFLRV\DFWL
YLGDGHVf,QVWDODFLÍQ\PDQWHQLPLHQWR
'HHVWHPRGROD/H\KDELOLWDUÈDTXHORV
VXMHWRVSUHYLVWRVHQVX¼PELWRGHDSOL
FDFLÍQHVWRHVHPSUHVDVGHVHJXULGDG
SULYDGDSXHGDQLQVWDODUGLVSRVLWLYRVGH
VHJXULGDGHQWUHORVTXHSRGUÈDQHQFRQ
WUDUVHODVF¼PDUDVVLHPSUHFRQODILQD
OLGDGGHVFULWDHQHOFLWDGRDUWÈFXOR–
'NRTQDNGOCUWTIGEQPNCCRTQDCEKÍPFG
NC.FGFGFKEKGODTG
EQ
PQEKFCEQOQ.G[­OPKDWUEW[CFKUR
CFKE…JCNKDGTCNK\CFQNCKPUVCNCEKÍP
FGE»OCTCUFGXKFGQXKIKNCPEKCCNGUVC
DNGEGTSWG‡ORVSUHVWDGRUHVGHVHUYLFLRV
RODVILOLDOHVGHODVHPSUHVDVGHVHJXULGDG
SULYDGDTXHYHQGDQHQWUHJXHQLQVWDOHQ
RPDQWHQJDQHTXLSRVWÄFQLFRVGHVHJXUL
GDGVLHPSUHTXHQRLQFOX\DQODSUHVWD
FLÍQGHVHUYLFLRVGHFRQH[LÍQFRQFHQ
WUDOHVGHDODUPDTXHGDQH[FOXLGRVGHOD
OHJLVODFLÍQGHVHJXULGDGSULYDGDVLHPSUH
\FXDQGRQRVHGHGLTXHQDQLQJXQRGH
ORVRWURVILQHVGHILQLGRVHQHODUWÈFXOR
VLQSHUMXLFLRGHRWUDVOHJLVODFLRQHV
HVSHFÈILFDVTXHSXGLHUDQUHVXOWDUOHVGH
DSOLFDFLÍQ–
NQUFGTGEJQUFGCEEGUQTGEVKHKECEKÍP
ECPEGNCEKÍP[QRQUKEKÍPGVE
'PUGIWPFQNWICT[ÃUVCGUNCENCXG
RNCPVGCFWFCUCEGTECFGNCNGIKVKOCEKÍP
RCTCNCQDVGPEKÍPFGFCVQURGTUQPCNGU
OGFKCPVGE»OCTCUFGXKFGQXKIKNCPEKCGP
NQUVÃTOKPQUGUVCDNGEKFQUGPNC.12&CN
UWRTKOKTGNGNGOGPVQNGIKVKOCFQTRCTC
NCITCDCEKÍPSWGTGEQIÇCNCFQEVTKPCFG
NC#'2&SWGEQOQFGEÇCOQUPQGTC
QVTQSWGNCCRNKECEKÍPFGNC.
FGFGLWNKQFGUGIWTKFCFRTKXCFCGP
UWCTV
5QDTGGUVCEWGUVKÍPUGJCPRTQPWPEKCFQ
FKXGTUQUGZRGTVQUGPRTQVGEEKÍPFGFCVQU
FCPFQNWICTEQOQUGËCNC5COWGN2#44#
GPUWEORJCFQURQUVWTCUFKUVKPVCU
2QTWPNCFQNCFG#NHQPUQ2#%*'%1
[5CPVKCIQ$'4/'..OCPKHGUVCFCGP
WPCTVÇEWNQRWDNKECFQGPLWNKQFG
GPNCTGXKUVCXKTVWCNFGNC#IGPEKCFG
2TQVGEEKÍPFG&CVQUFGNC%QOWPKFCF
FG /CFTKF C NC XKUVC FG NC &KTGEVKXC
%' EW[C VTCURQUKEKÍP CN
QTFGPCOKGPVQGURCËQNJCFCFQNWICT
CNCTGHQTOCSWGGUVCOQUCPCNK\CPFQ
'PVKGPFGPGUVQUCWVQTGUSWGNCGPVTCFC
GPXKIQTFGGUVCOGFKFC†UKIPKHKECNCFG
UCRCTKEKÍPFGNCEQDGTVWTCNGICNFGUKI
PCFCRQTNCRTQRKC#'2&RCTCNGIKVKOCT
GUGVTCVCOKGPVQ'UVQUWRQPGWPITCXG
.CFKURQUKEKÍPEKVCFCRNCPVGCFQUEWGU
RTQDNGOCRQTSWGGPVQPEGUNCÔPKECXÇC
VKQPGUGPOCVGTKCFGXKFGQXKIKNCPEKC
CDKGTVCRCTCGUCNGIKVKOCEKÍPRCUCT»C
'PRTKOGTNWICTUWRQPGNCUWRTGUKÍP UGTNCFGEQPVCTEQPGNEQPUGPVKOKGPVQ
FGNCGZKIGPEKCFGSWGNCUE»OCTCUFG KPFKXKFWCNFGECFCUWLGVQEW[CKOCIGP
RWGFCUGTECRVCFCRQTNCUE»
OCTCUFGXKFGQXKIKNCPEKC•#
GUVCRQUVWTCUGUWOC5COWGN
Si la grabación de imágenes
2#44#SWGFWFCCFGO»USWG
mediante cámara cumple
NC .G[ FG 5GIWTKFCF RTKXCFC
los requisitos que regula la Ley,
JWDKGTCUGTXKFQPWPECFGNG[
el consentimiento tácito
JCDKNKVCPVGRCTCNCITCDCEKÍP
FGKO»IGPGUCNQUGHGEVQUFG
del interesado sería
GZKOKTFGNCPGEGUKFCFFGEQP
el elemento legitimador
UGPVKOKGPVQGZRTGUQFCFQGN
de dicha grabación.
FKUVKPVQ»ODKVQFGCRNKECEKÍP
¿Y qué requisitos son esos?
FGWPC[QVTC
Entendemos que serán
fundamentalmente dos
XKFGQXKIKNCPEKC UGCP KPUVCNCFCU RQT
WPC GORTGUC FG UGIWTKFCF RTKXCFC
EQOQUWEGFÇCJCUVCCJQTC.CEWGU
VKÍPPQRNCPVGCEQPVTQXGTUKCLWTÇFK
ECGPCFGNCPVGEWCNSWKGTGORTGUCQ
RTGUVCFQTFGUGTXKEKQURQFT»KPUVCNCT
E»OCTCUFGXKFGQXKIKNCPEKCUKGORTG
SWGPQGUVÃPEQPGEVCFCUCWPCEGPVTCN
FGCNCTOC'PGUVGUGPVKFQUGJCRTQ
PWPEKCFQNC#'2&GNFGFKEKGODTG
FGGPUW†0QVCKPHQTOCVKXCUQ
DTGNCOQFKHKECEKÍPFGNC.G[ÍOPKDWU
GPNQUUKUVGOCUFGXKFGQXKIKNCPEKC•
; GNNQ UKP RGTLWKEKQ FG NC PGEGUKFCF
FGQDUGTXCPEKCFGNQUTGSWKUKVQUGU
VCDNGEKFQUGPNC.12&RCTCUWKPUVC
NCEKÍP
RTQRQTEKQPCNKFCFKFQPGKFCF
KPHQTOCEKÍPICTCPVÇCFGNGLGTEKEKQFG
2QTQVTQNCFQVGPGOQUNCRQU
VWTCFG'TKE)4#%+#SWKGPGP
WPCTVÇEWNQRWDNKECFQGP&GTG
EJQEQOGPVKGPFGSWGUG†UWCXK\CNCNG
IKVKOCEKÍPPGEGUCTKCRCTCRQFGTECRVCT
KO»IGPGUOGFKCPVGUKUVGOCUFGXKFGQ
XKIKNCPEKC•[CSWG†CRCTVKTFGCJQTC
EWCNSWKGTUKUVGOCFGXKFGQXKIKNCPEKC
KPFGRGPFKGPVGOGPVGFGSWKÃPNQJC[C
KPUVCNCFQ[UKGORTGSWGPQGUVÃEQPGE
VCFQCWPCEGPVTCNFGCNCTOCUEQPVCT»
EQPNCNGIKVKOCEKÍPNGICNRCTCNCECRVC
EKÍPFGKO»IGPGUSWGQVQTICNC.G[FG
5GIWTKFCF2TKXCFCPQUKGPFQPGEGUCTKC
NCQDVGPEKÍPFGNEQPUGPVKOKGPVQFGNCU
RGTUQPCUCHGEVCFCU•
2WGU DKGP CODCU RQUVWTCU UG JCEGP
GEQFGNQSWGGPOKQRKPKÍPGTCWPC
HWPFCOGPVCEKÍPKPFGDKFCFGNCNGIKVK
OCEKÍPRCTCGNVTCVCOKGPVQFGFCVQUGP
FGOCT\QFG
YYYFKCTKQNCNG[GU
FGWPJQURKVCNCWPSWGNGTGRWIPGSWG
ITCDGPUWKOCIGPRQFGOQUGPEQPVTCT
NCNGIKVKOCEKÍPGPNC.1FG
FGCIQUVQRQTNCSWGUGTGIWNCNCWVK
NK\CEKÍPFGXKFGQE»OCTCURQTNCU(WGT
\CU[%WGTRQUFG5GIWTKFCFGPNWICTGU
RÔDNKEQU£UVCFKURQPGGPUWCTVÇEWNQ
RTKOGTQSWG†.CRTGUGPVG.G[TGIWNC
NCWVKNK\CEKÍPRQTNCU(WGT\CU[%WGTRQU
FG 5GIWTKFCF FG XKFGQE»OCTCU RCTC
ITCDCTKO»IGPGU[UQPKFQUGPNWICTGU
RÔDNKEQUCDKGTVQUQEGTTCFQU[UWRQU
VGTKQTVTCVCOKGPVQCHKPFGEQPVTKDWKT
CCUGIWTCTNCEQPXKXGPEKCEKWFCFCPCNC
GTTCFKECEKÍPFGNCXKQNGPEKC[NCWVKNK
\CEKÍPRCEÇHKECFGNCUXÇCU[GURCEKQU
RÔDNKEQUCUÇEQOQFGRTGXGPKTNCEQ
OKUKÍPFGFGNKVQUHCNVCUGKPHTCEEKQPGU
TGNCEKQPCFQUEQPNCUGIWTKFCFRÔDNKEC•
NQUUWRWGUVQUFGXKFGQXKIKNCPEKC8COQU
CRGTOKVKTPQUEQPVTCXGPKTGNEQPQEKFQ
CHQTKUOQUGIÔPGNEWCN
‡(QPDWHULDGHFULWHULR
QXQFDFDEHGLVFXVLÍQ
VLHPSUHWLHQHODUD]ÍQ
HOTXHHVW¼HQHO0LQLVWHULR–
#UÇEQPUKFGTCTGOQUGPEQPVTCFGNRC
TGEGTFGNC#'2&SWGNC.FG
5GIWTKFCF2TKXCFCECTGEGFGRQVGUVCF
JCDKNKVCPVGRCTCGNVTCVCOKGPVQFGFCVQU
RGTUQPCNGUCNOCTIGPFGNEQPUGPVKOKGP
VQFGNKPVGTGUCFQ'PGHGEVQHWGTCFGNQU
UWRWGUVQUGZENWKFQUFGEQPUGPVKOKGPVQ
GZRTGUCOGPVGRQTGNCTV.12&GN
CTVFGNCOKUOCGUOW[ENCTQGN
VTCVCOKGPVQFGFCVQURGTUQPCNGUGZKIG
GNEQPUGPVKOKGPVQKPGSWÇXQEQFGNKPVG
TGUCFQUCNXQSWGGZKUVCWPCPQTOCEQP
TCPIQFG.G[SWGFKURQPICQVTCEQUC
;NQEKGTVQGUSWGNC.G[FG5GIWTKFCF
2TKXCFCGPPKPIWPQFGUWURTGEGRVQU
†FKURQPGQVTCEQUC•5WRQPGTSWGNC
TGIWNCEKÍPFGUWCTVSWGUGNKOKVCC
FGNKOKVCTGNQDLGVQFGNC.G[[UWTG
UGTXC C FGVGTOKPCFCU GORTGUCU UKP
JCEGTPKPIÔPVKRQFGOGPEKÍPCNVGOC
FGRTQVGEEKÍPFGFCVQUGZKOÇCFGNC
QDNKICEKÍPFGEQPUGPVKOKGPVQGZKIKFC
RQT WPC .G[ 1TI»PKEC SWG TGIWNC GN
&GTGEJQEQPUVKVWEKQPCNCNJQPQTKPVK
OKFCFRGTUQPCN[HCOKNKCT[NCRTQRKC
KOCIGPGUOWEJQUWRQPGT%QKPEKFK
OQUVQVCNOGPVGEQP5COWGN2#44#GP
SWGNC.G[FG5GIWTKFCF2TKXCFCPWPEC
HWGGNGOGPVQJCDKNKVCPVGRCTCNCITCDC
EKÍPFGKO»IGPGUOGFKCPVGE»OCTCUFG
XKFGQXKIKNCPEKC
'PVQPEGU FGDGTGOQU DWUECT GP QVTQ
UKVKQNCNGIKVKOCEKÍPRCTCGNVTCVCOKGP
VQ;GUGQVTQUKVKQPQRWGFGUGTUKPQGN
EQPUGPVKOKGPVQKPGSWÇXQEQFGNKPVGTG
UCFQTGEQIKFQGPGNRTQRKQCTV
5GCTIWOGPVCRQTNQUCWVQTGUEKVCFQU
SWGGUKORQUKDNGEQPUGIWKTGNEQPUGP
VKOKGPVQFGNCVQVCNKFCFFGNQUKPVGTG
UCFQURCTCNCITCDCEKÍPFGKO»IGPGU
FCFQGNGNGXCFQPÔOGTQFGNQUOKUOQU
SWGJCTÇCKPXKCDNGEQPUGIWKTSWGRQT
GLGORNQ HKTOCTCP WP HQTOWNCTKQ FG
EQPUGPVKOKGPVQECFCXG\SWGGPVTCTCP
GPWPGUVCDNGEKOKGPVQQ\QPCXKFGQXK
IKNCFC;GUVQGHGEVKXCOGPVGGUCUÇUK
VTCVCOQUFGQDVGPGTGNEQPUGPVKOKGPVQ
GZRTGUQRGTQPQNQGUUKEQPUKFGTCOQU
NCRQUKDKNKFCFSWGFGUFGNWGIQPQGZ
ENW[GNCNG[FGTGEQPQEGTNCXCNKFG\FGN
EQPUGPVKOKGPVQV»EKVQ
5GIÔP TGKVGTCFC FQEVTKPC FG PWGUVTQ
6TKDWPCN5WRTGOQ
UGPVGPEKCUFGFG
GPGTQFGFGLWPKQFG[
FGOC[QFGGPVTGQVTCU†'ZKUVKT»
FGENCTCEKÍPFGXQNWPVCFV»EKVCEWCPFQ
GNUWLGVQCÔPUKPGZVGTKQTK\CTFGOQFQ
FKTGEVQUWSWGTGTOGFKCPVGNCRCNCDTC
GUETKVCWQTCNCFQRVCWPCFGVGTOKPCFC
EQPFWEVCSWGCNRTGUWRQPGTGNEQPUGP
VKOKGPVQRQTWPCFGFWEEKÍPTC\QPCDNG
DCUCFCGPNQUWUQUUQEKCNGU[FGNVT»HK
EQJCFGUGTXCNQTCFCEQOQGZRTGUKÍP
FGNCXQNWPVCFKPVGTPCGPFGHKPKVKXCUG
VTCVCFGNQUNNCOCFQUKHFKRVFRQFOX
\HQWHV
CEVCEQPENWFGPVKC[FRPRWDOHV
LQHTXÈYRFRVSWGUKPUGTOGFKQFKTGEVQFG
GZVGTKQTK\CEKÍPFGNKPVGTPQUGPVKTNQFCC
EQPQEGTUKPCUQOQUFGFWFCFGUWGTVG
SWGpGNEQPUGPVKOKGPVQRWGFGUGTV»EKVQ
EWCPFQFGNEQORQTVCOKGPVQFGNCURCT
VGUTGUWNVCKORNÇEKVCUWCSWKGUEGPEKCqC
WPCFGVGTOKPCFCUKVWCEKÍP•
GPNWICTUWHKEKGPVGOGPVGXKUKDNGVCPVQ
GPGURCEKQUCDKGTVQUEQOQEGTTCFQU•
UKPQSWGUGT»KPGZEWUCDNG
PQOGTC
OGPVGCEQPUGLCDNGEQOQCRWPVCFKEJQ
KPHQTOGSWGUKUGVTCVCRQTGLGORNQFG
WPGFKHKEKQUWLGVQCXKFGQXKIKNCPEKCUG
WDKSWGCNCGPVTCFCFGNOKUOQ
'PUWOCPWGUVTQ#NVQ6TKDWPCNEQPUKFG
TCUKPNWICTCFWFCUGNEQPUGPVKOKGPVQ
V»EKVQEQOQWPCOQFCNKFCFFGNEQPQ
EKOKGPVQKPGSWÇXQEQSWGTGEQIGGNCTV
.12&
4GUWGNVQNQCPVGTKQTUGRNCPVGCGNRTQ
DNGOCFGGPEQPVTCTNCNGIKVKOCEKÍPGP
NQUUWRWGUVQUGPSWGNQUNWICTGUGPSWG
GUVÃPUKVWCFQUNCUE»OCTCUPQUQPFG
NKDTGCEEGUQ0QUTGHGTKOQUCNWICTGU
EQOQEGPVTQUFGVTCDCLQQEGPVTQURÔ
DNKEQUGPNQUSWGRCTCQDVGPGTWPDKGP
QUGTXKEKQRÔDNKEQUGCKORTGUEKPFKDNGGN
CEEGUQHÇUKEQCNQUOKUOQUVCNGUEQOQ
FGRGPFGPEKCUCFOKPKUVTCVKXCUJQURKVC
NGUQEQNGIKQUGPVTGQVTQU
'P EQPUGEWGPEKC UK NC ITCDCEKÍP FG
KO»IGPGUOGFKCPVGE»OCTCUEWORNG
NQU TGSWKUKVQU SWG TGIWNC NC .G[ HO
FRQVHQWLPLHQWRW¼FLWRGHOLQWHUHVDGR
VHUÈDHOHOHPHQWROHJLWLPDGRUGHGLFKD
JUDEDFLÍQ™;SWÃTGSWKUKVQUUQPGUQU!
'PVGPFGOQUSWGUGT»PHWPFCOGPVCN
OGPVGFQU
t.CKPHQTOCEKÍPFGHQTOCENCTC[XKUK
DNGCNQUUWLGVQUSWGXCPCUGTITCDCFQU
FGNCGZKUVGPEKCFGE»OCTCUOGFKCPVG
NQUECTVGNGURTGEGRVKXQU
t3WGFKEJCKPHQTOCEKÍPUGTGCNKEG
EQPECT»EVGTRTGXKQCNCITCDCEKÍPFG
OQFQSWGGNKPVGTGUCFQVGPICNCQR
EKÍPTGCNFGQRQPGTUGCNVTCVCOKGPVQ
GXKVCPFQ GPVTCT GP NC \QPC UWLGVC C
XKFGQXKIKNCPEKC0QDCUVCT»EQOQFK
EGGPPWGUVTCQRKPKÍPGTTÍPGCOGPVG
GNKPHQTOGFGNC#'2&SWG
†GNFKUVKPVKXQKPHQTOCVKXQGUVÃEQNQECFQ
#UÇUKWPUWLGVQGUKPHQTOCFQFGHQTOC
XKUKDNGFGSWGGNCEEGUQCWPNWICTFG
VGTOKPCFQNNGXCKORNÇEKVCNCITCDCEKÍP
FGUWKOCIGP[CUCDKGPFCUCEEGFGCN
OKUOQUWEQPFWEVCRWGFGEQPUKFGTCTUG
WPJGEJQEQPENW[GPVGSWGFGOWGUVTC
KPGSWÇXQECOGPVGGNEQPUGPVKOKGPVQRC
TCNCITCDCEKÍPNQSWGNGIKVKOCTÇCÃUVC
UKPNWICTCFWFCU
4GURGEVQCNQUEGPVTQUFGVTCDCLQNC
NGIKVKOCEKÍP RCTC NC KPUVCNCEKÍP FG
XKFGQE»OCTCUUKPEQPUGPVKOKGPVQFGN
KPVGTGUCFQUGGPEWGPVTCGPGNRQFGTFG
FKTGEEKÍPFGNGORNGCFQTRTGXKUVQGPGN
CTV'UVCVWVQFGNQU6TCDCLCFQTGU
UKGORTGSWGUGCPGEGUCTKQ†RCTCEWO
RNKTTGSWKUKVQUFGRTQFWEEKÍP[UGIWTK
FCFNCDQTCN•[UGIWCTFGPNCUFGDKFCU
ICTCPVÇCU
565FGFGLWPKQFG
4GURGEVQCNWICTGURÔDNKEQUEW[QCEEG
UQCWPSWGNKDTGPQRQFGOQUGPVGPFGT
SWGNNGXGKORNÇEKVQGNEQPUGPVKOKGPVQ
RCTCNCITCDCEKÍP
PQECDGGURGTCTSWG
WPCRGTUQPCITCXGOGPVGGPHGTOCTG
PWPEKGCGPVTCTGPNCUCNCFGWTIGPEKCU
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
.CTGOKUKÍPCGUVCNG[UGJCEGGZRTG
UCOGPVGRQTNC.12&EW[QCTVG
UGËCNCSWG†5GTGIKT»PRQTUWUFKURQ
UKEKQPGUGURGEÇHKECU[RQTNQGURGEKCN
OGPVGRTGXKUVQGPUWECUQRQTGUVC.G[
1TI»PKECNQUUKIWKGPVGUVTCVCOKGPVQUFG
FCVQURGTUQPCNGU
G.QURTQEGFGPVGUFGKO»IGPGU[UQ
PKFQUQDVGPKFQUOGFKCPVGNCWVKNK\CEKÍP
FGXKFGQE»OCTCURQTNCU(WGT\CU[%WGT
RQUFG5GIWTKFCFFGEQPHQTOKFCFEQP
NCNGIKUNCEKÍPUQDTGNCOCVGTKC•
.CEQPUGEWGPEKCPGEGUCTKCGUSWGNC
WVKNK\CEKÍPFGE»OCTCUFGXKFGQXKIK
NCPEKCGPNWICTGURÔDNKEQUCWPSWGUGCP
EGTTCFQUVCNGUEQOQJQURKVCNGUQFG
RGPFGPEKCUCFOKPKUVTCVKXCUUÍNQRQFT»
TGCNK\CTUGGPUWECUQRQTNQU%WGTRQU
FG5GIWTKFCFEQPCTTGINQCNCUEQPFKEKQ
PGUSWGGUVCDNGEGNC.1'UQCN
OGPQUOKGPVTCUWPCPQTOCEQPTCPIQ
FGNG[PQFKICGZRTGUCOGPVGNQEQPVTC
TKQFCFCNCKORQUKDKNKFCFOCVGTKCNFG
QDVGPGTGNEQPUGPVKOKGPVQRTGXKQNKDTG
GKPHQTOCFQFGNQUCHGEVCFQU
%QOQEQPENWUKÍPRQFGOQUFGEKTSWGGN
VTCVCOKGPVQFGFCVQURGTUQPCNGUEQP
UKUVGPVGUGPNCITCDCEKÍPFGKO»IGPGU
OGFKCPVGE»OCTCUFGXKFGQXKIKNCPEKC
FGDGT»TGCNK\CTUGEWORNKGPFQCFGO»U
FGNQUTGNCVKXQUCKPHQTOCEKÍPNGIKVK
OCEKÍPRTQRQTEKQPCNKFCF[ECNKFCFFG
FCVQUNQUTGSWKUKVQUFGEQPUGPVKOKGPVQ
GUVCDNGEKFQUGPGNCTV[.12&
;NCHQTOCGPSWGRWGFGICTCPVK\CTUGGN
EWORNKOKGPVQFGNQUOKUOQUPQGUQVTC
SWGNCKPUVCNCEKÍPFGECTVGNGUKPHQTOCVK
XQUFGNCGZKUVGPEKCFGE»OCTCUFGXKFGQ
XKIKNCPEKCGPNQUNWICTGUFGCEEGUQCNCU
\QPCUXKFGQXKIKNCFCUFGHQTOCSWGGNVK
VWNCTFGNQUFCVQURWGFCFGEKFKTNKDTGOGP
VG[EQPECT»EVGTRTGXKQCNCITCDCEKÍP
FGUWKOCIGPUKCEEGFGCNNWICTGPEW[Q
ECUQUGGPVGPFGT»SWGGUV»RTGUVCPFQUW
EQPUGPVKOKGPVQRCTCGNVTCVCOKGPVQ„
FGOCT\QFG
YYYFKCTKQNCNG[GU
766DOD7HUFHUDGHOR&RQWHQFLRVR
DGPLQLVWUDWLYR6HFF†5&KE
&RQVXOWHORVWH[WRVÈQWHJURVHQ
NCUGPVGPEKCGHOFÇC
YYYFKCTKQNCNG[GU
Tribunal Supremo
3RQHQWH0DUWÈQ7LPÍQ0DQXHO
.#.';
0WNKFCFFGRTGEGRVQTGNCVKXQ
CNCFGFWEEKÍPRQTKPXGTUKQPGU
GP+&GPGN+ORWGUVQ
UQDTG5QEKGFCFGU
4'57/'0&'.(#..1
(O7ULEXQDO6XSUHPRHVWLPDHOUHFXUVRGHFDVDFLÍQLQWHUSXHVWRFRQWUDVHQWHQFLDGHOD
$XGLHQFLD1DFLRQDOTXHDQXODHVWLPDHOUHFXUVRFRQWHQFLRVRDGPLQLVWUDWLYRIRUPX
ODGRFRQWUDUHVROXFLÍQGHO7($&\OLTXLGDFLÍQGHO,6HMHUFLFLR\GHFODUDQXORGH
SOHQRGHUHFKRHODUWÈFXOR5,6HQODSDUWHTXHLQGLFD‡VLHPSUHTXHÄVWRV
VHDQUHVLGHQWHVHQ(VSDËD–
&+5215+%+10'5#2.+%#&#5
/,65'GH'LFGHVDUUROORGH/GH'LFSUHVXSXHVWRV
JHQHUDOHVGHO(VWDGRSDUDHQORUHODWLYRDODGHGXFFLÍQGHORVJDVWRVGHLQYHV
WLJDFLÍQ\GHVDUUROORGHQXHYRVSURGXFWRVRSURFHGLPLHQWRVLQGXVWULDOHVDUW
5,6/$/(<
UWOCTKQ
+/27'56151$4'51%+'&#&'5t%WQVCVTKDWVCTKCt0WNKFCFFGNCNK
SWKFCEKÍPIKTCFCCNCORCTQFGNCTVÇEWNQ4+5KIWCNOGPVGPWNQ
CNEQPFKEKQPCTGNFGTGEJQCNCFGFWEEKÍPRQTKPXGTUKQPGUGPRTQITCOCU
FGKPXGUVKICEKÍPQFGUCTTQNNQCSWGUKUGEQPVTCVCPEQPVGTEGTQUÃUVQU
UGCPTGUKFGPVGUGP'URCËC
(QHOFDVRVHWUDWDGHMX]JDUODOHJDOLGDGGHXQDFWRDGPLQLVWUDWLYRGHOLTXL
GDFLÍQWULEXWDULDGHO,6GLFWDGR\FRQILUPDGRFRQDSOLFDFLÍQGHODUW
5,6GHURJDGRSRU5'GH'LFGHVDUUROORGH/
GH'LFSUHVXSXHVWRVJHQHUDOHVGHO(VWDGRSDUDHQORUHODWLYRDOD
GHGXFFLÍQGHORVJDVWRVGHLQYHVWLJDFLÍQ\GHVDUUROORGHQXHYRVSURGXFWRVR
SURFHGLPLHQWRVLQGXVWULDOHV/$/(<\HQWRGRFDVRSRUOD/,6
/$/(<SHURFRQHOHIHFWR‡H[QXQF–SURSLRGHWRGDGHUR
JDFLÍQORTXHSHUPLWHVHJXLUSURGXFLHQGRHIHFWRVUHVSHFWRGHDFWRVGLFWDGRV
PLHQWUDVODQRUPDHVWXYRYLJHQWH3XHVELHQGLFKRDFWRHVQXORDOLJXDOTXH
ODGLVSRVLFLÍQTXHOHVLUYHGHFREHUWXUDHQWDQWRFRQGLFLRQDHOGHUHFKRDOD
GHGXFFLÍQSRULQYHUVLRQHVHQSURJUDPDVGHLQYHVWLJDFLÍQRGHVDUUROORDTXH
HQHOFDVRGHTXHVHFRQWUDWHQFRQWHUFHURVÄVWRVVHDQUHVLGHQWHVHQ(VSDËD
)81'$0(1726'('(5(&+2
24+/'41.C5GPVGPEKCGPNQSWGKPVGTGUCDCUCUWHCNNQGPNQUUKIWKGPVGU(WPFC
OGPVQU,WTÇFKEQU
p5')70&1.CEWGUVKÍPUWUEKVCFCGPGNRTGUGPVGTGEWTUQUGEGPVTCGPFGVGTOKPCT
NCRTQEGFGPEKCFGNCFGFWEEKÍPRQTGNEQPEGRVQFGpKPXGUVKICEKÍP[FGUCTTQNNQqGP
TGNCEKÍPEQPNQUEQPVTCVQUEGNGDTCFQUEQPVGTEGTQUPQTGUKFGPVGUGP'URCËCUQDTG
NKSWKFCEKÍPRQTGN+ORWGUVQUQDTG5QEKGFCFGUGLGTEKEKQ
.CNKSWKFCEKÍPVKGPGEQOQUGJCGZRWGUVQUWQTKIGPGPGNETKVGTKQFGNC+PURGEEKÍP
VGPFGPVGCEQPUKFGTCTEQOQICUVQUPQCEQIKDNGUCNCFGFWEEKÍPRQTKPXGUVKICEKÍP[
FGUCTTQNNQNQUUGTXKEKQUEQPVTCVCFQURQTRCTVGFG'04'5#FGVGTEGTQUPQTGUKFGPVGU
GP'URCËCGPGNEKVCFQGLGTEKEKQCNPQEWORNKTNQFKURWGUVQCNGHGEVQGPGN
CTVÇEWNQFGN4GINCOGPVQFGN+ORWGUVQUQDTG5QEKGFCFGUNQSWGOQVKXÍSWG
OKPQTCUGGNKORQTVGFGNCFGFWEEKÍPRTCEVKECFCRQTNCGPVKFCFTGEWTTGPVG
(TGPVGCGNNQUGCN\CNCGPVKFCFJQ[FGOCPFCPVGKPXQECPFQSWGNCFGFWEEKÍPRQT
GUVCUKPXGTUKQPGUTGIWNCFCGPNC.G[FGFGLWNKQUQDTG4GEQPXGTUKÍP
[4GKPFWUVTCNK\CEKÍPCTVÇEWNQXKIGPVGJCUVCNCGPVTCFCGPXKIQTFGNCPWGXC
.G[FGN+ORWGUVQUQDTG5QEKGFCFGUGUKPFGRGPFKGPVGFGNCTGIWNCFCGP
GNCTVÇEWNQFGNC.G[FGN+ORWGUVQUQDTG5QEKGFCFGU[FGDGTGIKTUGRQTGN
EKVCFQRTGEGRVQFGNC.G[PQEQPUKFGTCPFQFGCRNKECEKÍPGNCTVÇEWNQ
FGNC.G[FGN+ORWGUVQPKGPEQTTGNCEKÍPGNCTVÇEWNQFGN4GINCOGPVQFGN
EKVCFQ+ORWGUVQ
%QPECT»EVGTUWDUKFKCTKQKPXQECNCHCNVCFGEQDGTVWTCNGICNFGNCTVÇEWNQFGN
OGPVCFQ4GINCOGPVQFGN+ORWGUVQUQDTG5QEKGFCFGU
6'4%'41.CEWGUVKÍPCFKNWEKFCTGUKFÃPVKECCNCRNCPVGCFCRQT'04'5#GPTGNCEKÍP
EQPGNGLGTEKEKQRTGEGFGPVG[JCUKFQTGUWGNVCRQTGUVC5CNC5GEEKÍP…GP
UGPVGPEKCFGHGEJCFGCDTKNFG
4GERQTNQSWGFGDGGUVCTUG
NÍIKECOGPVGCNETKVGTKQHKLCFQGPFKEJCTGUQNWEKÍP
'NCTVÇEWNQFGNC.G[UQDTG4GEQPXGTUKÍP[4GKPFWUVTCNK\CEKÍPSWGNC
RCTVGCEVQTCEQPUKFGTCFGCRNKECEKÍPFKURQPÇCSWGp.QUICUVQUFGKPXGUVKICEKÍP[
FGUCTTQNNQTGCNK\CFQURQTNCUGORTGUCURQFT»PTGFWEKTNCEWQVCKPVGITCFGN+ORWGUVQ
UQDTG5QEKGFCFGUGPGNCËQGPSWGUGRTQFW\ECPGPNCEWCPVÇCFGNRQTEKGPVQFG
NQUICUVQUGPKPVCPIKDNGU[FGNRQTEKGPVQFGNXCNQTFGCFSWKUKEKÍPFGNQUCEVKXQU
HKLQUCRNKECFQUCNRTQEGUQFGKPXGUVKICEKÍP[FGUCTTQNNQq
'NCTVÇEWNQFGNC.G[UQDTGGN+ORWGUVQFG5QEKGFCFGUGPTGNCEKÍPEQPGNEQP
ETGVQGLGTEKEKQHKUECNSWGPQUQEWRCHWGOQFKHKECFQRQTNC.G[FG
FGLWPKQUQDTGOGFKFCUGPOCVGTKCRTGUWRWGUVCTKCHKPCPEKGTC[VTKDWVCTKCSWG
GPUWCTVÇEWNQGUVCDNGEKÍp%QPGHGEVQURCTCNQUGLGTEKEKQUSWGUGKPKEKGPFGPVTQ
FGGNCTVÇEWNQFGNC.G[FGFGFKEKGODTGFGN+ORWGUVQUQDTG
5QEKGFCFGUSWGFCT»TGFCEVCFQEQOQUKIWG&QU%QPHQTOGCNQRTGXKUVQGPGN
CRCTVCFQWPQFGNCTVÇEWNQFGNC.G[FGFGLWNKQNQUUWLGVQURCUKXQU
RQFT»PFGFWEKTGPNCEWQVCNÇSWKFCCSWGUGTGHKGTGGNCRCTVCFQCPVGTKQTGNRQT
FGNQUICUVQUKPVCPIKDNGU[GNRQTEKGPVQFGNXCNQTFGCFSWKUKEKÍPFGCEVKXQUHKLQU
CRNKECFQUCRTQITCOCUQICUVQUFGKPXGUVKICEKÍP[FGUCTTQNNQFGPWGXQURTQFWEVQU
QRTQEGFKOKGPVQUKPFWUVTKCNGUq
.CEKVCFCOQFKHKECEKÍPFGNCTVÇEWNQFGNC.G[UQDTGGN+ORWGUVQFG5QEKGFCFGU
GUKFÃPVKECCNCNNGXCFCCECDQRCTCGNGLGTEKEKQCPVGTKQTRQTNC.G[
FGFGFKEKGODTGFG2TGUWRWGUVQU)GPGTCNGUFGN'UVCFQRCTCRQTNQSWG
NCFQEVTKPCHKLCFCGPNCUGPVGPEKCRTGEKVCFCFGNC5GEEKÍP…FGGUVC5CNCTGUWNVC
EQOQ[CJGOQUFKEJQFGRNGPCCRNKECEKÍPCNECUQFGCWVQU
#UÇRWGUVCN[EQOQUGËCNCGN6TKDWPCN'EQPÍOKEQ#FOKPKUVTCVKXQ%GPVTCNNC
FWCNKFCFFGTGIÇOGPGUGPTGNCEKÍPEQPNCFGFWEEKÍPGPKPXGUVKICEKÍP[FG
UCTTQNNQEQPVGORNCFQUGPGNCTVÇEWNQFGN+ORWGUVQUQDTG5QEKGFCFGU[GN
CTVÇEWNQFGNC.G[UQDTG4GEQPXGTUKÍP[4GKPFWUVTCNK\CEKÍPRCTC
NCUGORTGUCUGPTGEQPXGTUKÍPFGUCRCTGEKÍCRCTVKTFGEQOQEQPUGEWGPEKC
FGNQGUVCDNGEKFQGPNC.G[FG2TGUWRWGUVQU)GPGTCNGUFGN'UVCFQRCTC
FKEJQGLGTEKEKQCUÇEQOQGPNCUUWEGUKXCUFG[SWG
FKGTQPWPCPWGXCTGFCEEKÍPCNCTVÇEWNQFGNC.G[FGN+ORWGUVQUQDTG5QEKG
FCFGUKPENW[GPFQGURGEÇHKECOGPVGFGPVTQFGNCUFGFWEEKQPGURQTKPXGTUKÍPNC
FGFWEEKÍPEQPVGORNCFCGPGNCTVÇEWNQFGNCTGHGTKFC.G[FGHQTOC
SWGCRCTVKTFGVCNHGEJCUGVTCVCFGWPCÔPKECFGFWEEKÍPGZKUVGPVGRQT+&
FGUCRCTGEKGPFQNCFWCNKFCFFGFGFWEEKQPGURQTGUVGEQPEGRVQGZKUVGPVGJCUVC
GNGLGTEKEKQFG
'PGHGEVQGPNCTGFCEEKÍPFGNCTVÇEWNQFGNC.G[FGN+ORWGUVQUQDTG5QEKG
FCFGUNNGXCFCCECDQRQTGNCTVÇEWNQFGNC.G[RQTGNCTVÇEWNQ
FGNC.G[FGFGLWPKQUQDTGOGFKFCUGPOCVGTKCRTGUWRWGUVCTKC
HKPCPEKGTC[VTKDWVCTKC[RQTNCU.G[GUFG2TGUWRWGUVQURCTCNQUGLGTEKEKQU
UGJCEGGZRTGUCTGHGTGPEKCCNCFGFWEEKÍPRTGXKUVCGPGNCTVÇEWNQFGNC
.G[SWGUGEQPVGORNCGZRGEÇHKECOGPVGGPGNCRCTVCFQ&QUFGNRTG
EGRVQEQOQWPQFGNQUVTGUUWRWGUVQUFGFGFWEEKÍPRQTKPXGTUKQPGUCJQTCDKGP
VCPVQGPFKEJCOQFCNKFCFEQOQGPNCUTGUVCPVGUCSWGGNRTGEGRVQUGTGHKGTG
UGGUVCDNGEGGPGNCRCTVCFQ%WCTVQSWGpUGT»PTGSWKUKVQURCTCGNFKUHTWVGFGNC
FGFWEEKÍPRQTKPXGTUKQPGU
C3WGUGEQPVCDKNKEGPFGPVTQFGNKPOQXKNK\CFQNCUECPVKFCFGUKPXGTVKFCUUCNXQNCU
SWGUGTGHKGTGPCEQPEGRVQUSWGVGPICPNCPCVWTCNG\CFGICUVQUEQTTKGPVGU
FGOCT\QFG
YYYFKCTKQNCNG[GU
D%WCPFQUGVTCVGFGCEVKXQUHKLQUPWGXQUSWGNQUGNGOGPVQURGTOCPG\ECPGP
HWPEKQPCOKGPVQGPNC'ORTGUCFGNOKUOQUWLGVQRCUKXQFWTCPVGEKPEQCËQUEQOQ
OÇPKOQQFWTCPVGUWXKFCÔVKNUKHWGTCKPHGTKQTq
%CDGEQPENWKTFGVCNHQTOCSWGFGUFGGNGLGTEKEKQ[GPXKTVWFFGNCTGFCE
EKÍPFCFCCNCTVÇEWNQFGNC.G[FGN+ORWGUVQUQDTG5QEKGFCFGURCTC
GNGLGTEKEKQRQTGNCTVÇEWNQFGNC.G[[RQTGNCTVÇEWNQFGNC
.G[FGFGLWPKQ[NCUUWEGUKXCU.G[GUFG2TGUWRWGUVQU)GPGTCNGUFGN
'UVCFQGZKUVGWPÔPKEQTÃIKOGPFGFGFWEEKÍPRQTKPXGTUKQPGUGPGNSWGUGFCPVTGU
OQFCNKFCFGUEQPFKHGTGPVGURQTEGPVCLGUFGFGFWEEKÍP
CRCTVCFQUWPQFQU[VTGU
FGNCTVÇEWNQGUVCDNGEKFQUGPHWPEKÍPFGNQUCEVKXQUGPNQUSWGUGOCVGTKCNK\CNC
KPXGTUKÍPQGNVKRQFGGPVKFCFSWGNCTGCNK\CRGTQUWLGVCUVQFCUGNNCUCNQUOKUOQU
TGSWKUKVQUNGICNGU
CRCTVCFQEWCTVQ[TGINCOGPVCTKQUSWGNQUFGUCTTQNNCPCUÇEQOQ
CWPQUOKUOQUNÇOKVGUUQDTGNCEWQVC
&KEJCEQPENWUKÍPUGTGHWGT\CVGPKGPFQGPEWGPVCNCWDKECEKÍPUKUVGO»VKECFGNEK
VCFQCRCTVCFQpEWCTVQqGPGNSWGUGEQPVGORNCPNQUTGSWKUKVQUFGNCFGFWEEKÍP
RQTKPXGTUKQPGUTGFCEVCFQVTCUNCGPWOGTCEKÍPFGNCUVTGUFKHGTGPVGUOQFCNKFCFGU
FGFGFWEEKÍPSWGEQPVGORNCGNRTGEGRVQNQSWGXKGPGCEQTTQDQTCTNCEQPENWUKÍP
UQDTGGNUQOGVKOKGPVQFGNCUFKHGTGPVGUOQFCNKFCFGUFGFGFWEEKÍPRQTKPXGTUKQ
PGUCWPQUOKUOQUTGSWKUKVQUTGSWKUKVQUSWGUQPNQUNGICNOGPVGRTGXKUVQU[NQU
TGINCOGPVCTKCOGPVGGUVCDNGEKFQU
%QPHQTOGCGNNQNCFGFWEEKÍPFGNCTVÇEWNQFGNC.G[SWGXGPÇCCGU
VCDNGEGTNCRQUKDKNKFCFFGSWGGNUWLGVQRCUKXQGORTGUCGPTGEQPXGTUKÍPQRVCUG
GPEWCPVQCNQUICUVQUFG+&RQTWPCFGFWEEKÍPEWCPVKVCVKXCOGPVGUWRGTKQTCNC
KPKEKCNOGPVGRTGXKUVCGPGNCTVÇEWNQFGNC.G[GPTGFCEEKÍPCPVGTKQT
CNGLGTEKEKQSWGFÍGZRTGUCOGPVGTGEQIKFCRCTCGNGLGTEKEKQ[RCTCNQU
RQUVGTKQTGUGPNCPWGXCTGFCEEKÍPSWGUGFKQCFKEJQRTGEGRVQGPNCUUWEGUKXCU
.G[GUFG2TGUWRWGUVQCJQTCDKGPGNNQGPHQTOCCNIWPCKORNKECSWGGUVCFGFWEEKÍP
RQTKPXGTUKQPGUEWCPVKVCVKXCOGPVGEWCNKHKECFC[TGEQIKFC[CGPNCTGFCEEKÍPFGN
CTVÇEWNQFGNC.G[FGN+ORWGUVQSWGFCTCGZEGREKQPCFCFGNTÃIKOGPIGPGTCNFG
NCUFGFWEEKQPGURQTKPXGTUKQPGU[GPGURGEKCNFGNQUTGSWKUKVQURCTCGNFKUHTWVGFG
FKEJCFGFWEEKÍPNGICNOGPVGRTGXKUVQUGPGNTGHGTKFQCRCTVCFQEWCTVQFGNRTGEGRVQ
CTVÇEWNQGPNCTGFCEEKÍPCRNKECDNGCNGLGTEKEKQFG[GPGN4GINCOGPVQ
FGN+ORWGUVQUQDTG5QEKGFCFGU
%7#461#FWEGNCFGOCPFCPVGSWGGNCTVÇEWNQFGN4GINCOGPVQFGN+O
RWGUVQUQDTG5QEKGFCFGUCRTQDCFQRQT4&FGFGQEVWDTGECTGEG
FGEQDGTVWTCNGICNCNPQHKIWTCTGPNC.G[FGN+ORWGUVQ
'NEKVCFQRTGEGRVQGUVCDNGEGSWGp&CT»PFGTGEJQCNCFGFWEEKÍPRQTKPXGTUKQ
PGUNCUECPVKFCFGUKPXGTVKFCUGPKPXGUVKICEKÍPQFGUCTTQNNQFGPWGXQURTQFWEVQUQ
RTQEGFKOKGPVQUKPFWUVTKCNGUq5GËCNCPFQGPGNCRCTVCFQ”SWGpNCUKPXGTUKQPGUGP
RTQITCOCUFGKPXGUVKICEKÍPQFGUCTTQNNQFCT»PFGTGEJQCNCFGFWEEKÍPVCPVQUKUG
TGCNK\CPFKTGEVCOGPVGRQTGNUWLGVQRCUKXQEQOQUKUGEQPVTCVCUWTGCNK\CEKÍPRQT
VGTEGTQUUKGORTGSWGÃUVQUUGCPTGUKFGPVGUGP'URCËC'PPKPIÔPECUQFCT»FGTGEJQ
CNCFGFWEEKÍPNCCFSWKUKEKÍPFGRTQITCOCUSWGJWDKGTGPHKIWTCFQCPVGTKQTOGPVG
GPGNCEVKXQHKLQFGNXGPFGFQTq
0QEQORCTVGNC5CNCGNCNGICVQFGNTGEWTTGPVGRWGUEQPHQTOGCNQUGËCNCFQGPNC
UGPVGPEKCRTGEKVCFCFGFGCDTKNFGpGNTGHGTKFQRTGEGRVQTGINCOGPVCTKQUG
NKOKVCCEQPETGVCTGN»ODKVQNGICNOGPVGGUVCDNGEKFQEQPHQTOGCNCHWPEKÍPRTQRKC
SWGNGEQTTGURQPFG'PGHGEVQGNECODKQNGIKUNCVKXQCHGEVCPVGCNCTVÇEWNQFGNC
.G[UQDTGGN+ORWGUVQFG5QEKGFCFGUFGHWGPGEGUCTKQRTGEKUCOGPVGRCTC
FCTCFGEWCFCEQDGTVWTCCNCURTGXGPEKQPGU[ECWVGNCUKPVTQFWEKFCUTGINCOGPVC
TKCOGPVGGPTGURGEVQFGNVGOCSWGPQUQEWRCGXKVCPFQCUÇEWCNSWKGTFWFC
FGGZVTCNKOKVCEKÍPECWVGNCUSWGGUV»PKORNÇEKVCUGPGNGURÇTKVW[HKPCNKFCFFGNC
.G[FGFGLWNKQEW[CCRNKECEKÍPTGENCOCNCGPVKFCFTGEWTTGPVG&G
VCNHQTOCSWGVCN[EQOQSWGFCNCTGFCEEKÍPFGNCTVÇEWNQFGNC.+5CRCTVKTFGN
GLGTEKEKQGPTGNCEKÍPEQPGNCTVÇEWNQFGN4+5RCTCSWGNCKPXGTUKÍPGP
RTQITCOCUFGKPXGUVKICEKÍPQFGUCTTQNNQUGCFGFWEKDNGGPNQUUWRWGUVQUGPSWGUG
EQPVTCVCUWTGCNK\CEKÍPEQPWPVGTEGTQGUPGEGUCTKQSWGGNVGTEGTQUGCTGUKFGPVGGP
'URCËCNQEWCNPQUWRQPGGZVTCNKOKVCEKÍPTGINCOGPVCTKCTGURGEVQCNEQPVGPKFQFGNC
.G[[CSWGNQSWGCTVKEWNCGNCTVÇEWNQGUWPCFGFWEEKÍPKORQUKVKXCGPNCEWQVC
GUVQGUWPFGTGEJQHCXQTCDNGQRQUKVKXQRCTCGNUWLGVQRCUKXQNQSWGEQPNNGXCSWG
NQUTGSWKUKVQUGUVCDNGEKFQURCTCUWFKUHTWVGUGCPEQPITWGPVGUEQPNQUHKPGUEQPUG
IWKFQUHKPGUSWGGPGUVGECUQPQUQPQVTQUSWGNQUFGKPEGPVKXCTNCKPXGUVKICEKÍP
GP'URCËC'PGHGEVQGNTGHGTKFQTGSWKUKVQTGUWNVCEQPITWGPVGEQPPWGUVTQUKUVGOC
VTKDWVCTKQ[CSWGFGPQGZKIKTUGSWGGNVGTEGTQEQPVTCVCFQRCTCNCKPXGUVKICEKÍPUGC
TGUKFGPVGGP'URCËCUGGUVCTÇCKPEGPVKXCPFQNCKPXGUVKICEKÍPGPWPRCÇUGZVTCPLGTQ
NQSWGECTGEGTÇCFGUGPVKFQCNIWPQq
p%QPUGEWGPVGOGPVGNCPQTOCTGINCOGPVCTKCUQNQXKGPGCGUVCDNGEGTWPCEQP
ETGEKÍPHWPFCOGPVCNRCTCCETGFKVCTGUCGZKIGPEKCNCGHGEVKXCKPEGPVKXCEKÍPFGNC
KPXGUVKICEKÍPGP'URCËCRQTNQSWGPQRWGFGFGEKTUGSWGUGJC[CGZVTCNKOKVCFQGP
UWHWPEKÍPFGFGUCTTQNNQFGNC.G[qq
5')70&1.CTGRTGUGPVCEKÍPRTQEGUCNFG'04'5#CTVKEWNCGNTGEWTUQFGECUCEKÍP
EQPDCUGGPFQUOQVKXQUGPNQUSWGRQTGNECWEGFGNCTVÇEWNQFFGNC.G[FG
NC,WTKUFKEEKÍP%QPVGPEKQUQ#FOKPKUVTCVKXCCNGICTGURGEVKXCOGPVGKPHTCEEKÍPFG
NQUCTVÇEWNQUFGNC.G[FGFGFKEKGODTG[FGNC.G[FG
FGLWNKQFG4GEQPXGTUKÍP[4GKPFWUVTKCNK\CEKÍP
6'4%'41%QOQCECDCFGKPFKECTUGGPGNRTKOGTQFGNQUOQVKXQUCNGICNCTGEWTTGP
VGKPHTCEEKÍPFGNCTVÇEWNQFGNC.G[FGFGFKEKGODTG
/CPKHKGUVCNCTGEWTTGPVGUWFKUEQPHQTOKFCFEQPGNETKVGTKQFGNC#FOKPKUVTCEKÍPTCVK
HKECFQGPNCUGPVGPEKCKORWIPCFCGPGNUGPVKFQFGEQPUKFGTCTCLWUVCFQC&GTGEJQGN
EQPVGPKFQFGNCTVÇEWNQFGN4GINCOGPVQFGN+ORWGUVQFG5QEKGFCFGUCRTQDCFQ
RQT4GCN&GETGVQFGFGQEVWDTGSWGGUVCDNGEGSWGpNCUKPXGTUKQPGU
GPRTQITCOCUFGKPXGUVKICEKÍPQFGUCTTQNNQFCT»PFGTGEJQCNCFGFWEEKÍPVCPVQ
UKUGTGCNK\CPFKTGEVCOGPVGRQTGNUWLGVQRCUKXQEQOQUKFGEQPVTCVCUWTGCNK\CEKÍP
EQPVGTEGTQUUKGORTGSWGÃUVQUUGCPTGUKFGPVGUGP'URCËCq
2QPGFGTGNKGXGNCTGEWTTGPVGSWGPKGNCTVÇEWNQFGNC.G[
SWGUGNKOKVC
CGZKIKTSWGNCUKPXGTUKQPGUUGEQPVCDKNKEGPFGPVTQFGNKPOQXKNK\CFQUCNXQSWGUG
TGHKGTCPCEQPEGRVQUSWGVGPICPNCPCVWTCNG\CFGICUVQUEQTTKGPVGU[SWGEWCPFQUG
VTCVGFGCEVKXQUHKLQUPWGXQUSWGNQUGNGOGPVQURGTOCPG\ECPGPHWPEKQPCOKGPVQGP
NCGORTGUCFGNOKUOQUWLGVQRCUKXQFWTCPVGEKPEQCËQUEQOQOÇPKOQQFWTCPVG
UWXKFCÔVKNUKHWGTCKPHGTKQTUKPUGTQDLGVQFGVTCPUOKUKÍPCTTGPFCOKGPVQQEGUKÍP
CVGTEGTQURCTCUWWUQPKGNCTVÇEWNQFGNC.G[FGFGLWNKQUQDTG
4GEQPXGTUKÍP[4GKPFWUVTKCNK\CEKÍP
GPGNSWGUGGUVCDNGEGSWGpNQUICUVQUFGKP
XGUVKICEKÍP[FGUCTTQNNQTGCNK\CFQURQTNCU'ORTGUCURQFT»PTGFWEKTNCEWQVCÇPVGITC
FGN+ORWGUVQUQDTG5QEKGFCFGUGPGNCËQGPSWGUGRTQFW\ECPGPNCEWCPVÇCFGN
RQTFGNQUICUVQUGPKPVCPIKDNGU[FGNRQTFGNXCNQTFGNCCFSWKUKEKÍP
FGNQUCEVKXQUHKLQUCRNKECFQUCNRTQEGUQFGKPXGUVKICEKÍP[FGUCTTQNNQqKORQPGPC
NQUUWLGVQURCUKXQUUQDTG5QEKGFCFGUTGUVTKEEKÍPCNIWPCUQDTGGNFGTGEJQCNCFG
FWEEKÍPRQTKPXGTUKÍPGPCEVKXKFCFGUFG+&GPNQUUWRWGUVQUGPSWGUGEQPVTCVG
NCTGCNK\CEKÍPFGFKEJQUICUVQUEQPVGTEGTQUPQTGUKFGPVGUGP'URCËCPKGUVCDNGEGP
FKUETKOKPCEKQPGUGPGUVGUGPVKFQ
5GKPXQECGPGNTGEWTUQNC5GPVGPEKCFGGUVC5CNCFGFGPQXKGODTGFGSWG
FGENCTÍNCPWNKFCFFGNQUR»TTCHQUC[DFGNCRCTVCFQ”FGNCTVÇEWNQFGN4GCN
&GETGVQ
SWGGPUWFÇCFGTQIQGNCTVÇEWNQSWGCJQTCJCFGCRNKECTUG
CNGPVGPFGTSWGGNEQPVGPKFQFGNQUOKUOQUGTCEQPVTCTKQCNCTVÇEWNQFGNC.G[FGN
+ORWGUVQFG5QEKGFCFGU+IWCNOGPVGUGUGËCNCSWGGN6'#%EQPRQUVGTKQTKFCFCNC
TGUQNWEKÍPKORWIPCFCCPVGNC5CNCFGKPUVCPEKCFKEVÍNC4GUQNWEKÍPFGFGOC[Q
FGTGEQIKGPFQNCFQEVTKPCFGSWGpNCNG[RCTCPCFCEQPFKEKQPCNCFGFWEEKÍP
FGNQUICUVQUFGKPXGUVKICEKÍP[FGUCTTQNNQCSWGFKEJCCEVKXKFCFUGCTGCNK\CFCRQT
GNUWLGVQRCUKXQQRQTWPVGTEGTQq
2GTQCFGO»UNCTGEWTTGPVGPQUQNQEQPUKFGTCECTGPVGFGEQDGTVWTCNGICNNCNKOKVCEKÍP
GUVCDNGEKFCGPGNCTVÇEWNQFGN4+5UKPQSWGNCECNKHKECFGFKUETKOKPCVQTKC[GP
EQPUGEWGPEKCKPEQORCVKDNGEQPPWGUVTQQTFGPCOKGPVQLWTÇFKEQNQSWGRGTOKVGJCEGT
TGHGTGPEKC[TGUGËCTNCLWTKURTWFGPEKCFGN6,%'SWGFGENCTCPQEQORCVKDNGEQPGN&GTGEJQ
%QOWPKVCTKQNCUPQTOCVKXCUPCEKQPCNGUSWGUWRQPICPWPCTGUVTKEEKÍPCEWCNSWKGTCFG
NCUNKDGTVCFGUHWPFCOGPVCNGUTGEQIKFCUGPGN6TCVCFQEQPUVKVWVKXQFGNC%QOWPKFCF
2WGUDKGPNC5CNCCPVKEKRCUWETKVGTKQGPGNUGPVKFQFGGUVKOCTGNOQVKXQ
2CTCGNNQ[CÔPEWCPFQPQHWGTCCRNKECDNGRQTTC\ÍPFGNVKGORQGPSWGVKGPGPNWICT
NQUJGEJQU
FGDGOQURCTVKTFGSWG.C.G[FGFKEKGODTGFG2TG
UWRWGUVQU)GPGTCNGUFGN'UVCFQRCTCOQFKHKEÍNCFGFWEEKÍPRQTKPXGTUKQPGU
GPICUVQUFG+PXGUVKICEKÍP[&GUCTTQNNQ
+&GPGN+ORWGUVQUQDTG5QEKGFCFGU
TGOKVKGPFQNCUEQPFKEKQPGURCTCUWCRNKECEKÍPCNFGUCTTQNNQTGINCOGPVCTKQ2QTUW
RCTVGGN4GCN&GETGVQFGFKEKGODTGTGNCVKXQCNCFGFWEEKÍPFG
NQUICUVQUFG+PXGUVKICEKÍP[&GUCTTQNNQFGPWGXQURTQFWEVQUQRTQEGFKOKGPVQU
VGEPQNÍIKEQUXKPQCEWDTKTGUVCRTGXKUKÍPNGICNEQPNCKPVGPEKÍPFGEQPXGTVKTUGGP
GNTGINCOGPVQFGNQUICUVQUFG+&
'NCTVÇEWNQFGNTGHGTKFQ4GCN&GETGVQUGËCNCDC
p0QVGPFT»PNCEQPUKFGTCEKÍPFGICUVQUFGKPXGUVKICEKÍP[FGUCTTQNNQC.CUEQP
VTKDWEKQPGUQCRQTVCEKQPGUTGCNK\CFCURCTCNCHKPCPEKCEKÍPFGWPCCEVKXKFCFFG
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
FGOCT\QFG
YYYFKCTKQNCNG[GU
KPXGUVKICEKÍP[FGUCTTQNNQTGCNK\CFCRQTWPVGTEGTQGZEGRVQSWGFKEJQVGTEGTQUGC
WPC7PKXGTUKFCFRÔDNKECQWP%GPVTQRÔDNKEQFGKPXGUVKICEKÍPTGUKFGPVGGP'URCËC
QGPQVTQ'UVCFQOKGODTQFGNC%QOWPKFCF'EQPÍOKEC'WTQRGCD.CUECPVKFCFGU
FGXGPICFCURQTWPVGTEGTQGZEGRVQSWGFKEJQVGTEGTQUGCWPC7PKXGTUKFCFRÔDNKEC
QWP%GPVTQRÔDNKEQFGKPXGUVKICEKÍPTGUKFGPVGGP'URCËCQGPQVTQ'UVCFQOKGODTQ
FGNC%QOWPKFCF'EQPÍOKEC'WTQRGCRQTECWUCFGCEVKXKFCFGUFGKPXGUVKICEKÍP
[FGUCTTQNNQTGCNK\CFCURQTGPECTIQFGNUWLGVQRCUKXQ.QFKURWGUVQGPNQUR»TTCHQU
CPVGTKQTGUPQUGT»FGCRNKECEKÍPEWCPFQNQUTGUWNVCFQUFGCEVKXKFCFGUFGKPXGUVKIC
EKÍP[FGUCTTQNNQTGCNK\CFCUGP'URCËCUGKPVGITGPGPWPRTQ[GEVQFGKPXGUVKICEKÍP
[FGUCTTQNNQSWGUGCEQPVTCVCFQRQTGNUWLGVQRCUKXQ[GLGEWVCFQFGEQPHQTOKFCF
EQPUWUFKTGEVTKEGUQEWCPFQNCGPVKFCFSWGTGCNKEGNCCEVKXKFCF[NCSWGTGCNK\Í
GNGPECTIQHQTOGPRCTVGFGWPITWRQFGUQEKGFCFGUSWGVTKDWVGGPTÃIKOGPFG
FGENCTCEKÍPEQPUQNKFCFCq
2WÃUDKGPNC5GPVGPEKCFGGUVC5CNCFGFGPQXKGODTGFGCNTGUQNXGTGN
TGEWTUQEQPVGPEKQUQCFOKPKUVTCVKXQPÔOGTQKPVGTRWGUVQRQTNC#UQEKCEKÍP
0CEKQPCNFG+PFWUVTKCU'NGEVTÍPKECUEQPVTCGN4GCN&GETGVQFGFKEKGO
DTGCPWNÍGNRTGEGRVQVTCPUETKVQCNUGËCNCT
37+061
.CFKURQUKEKÍPSWGCECDCFGUGTVTCPUETKVCEKGTVCOGPVGUKIPKHKECWPC
TGUVTKEEKÍPCNFGTGEJQFGFGFWEEKÍPUQDTGNCEWQVCFGN+ORWGUVQUQDTG5QEKGFCFGU
RQTTC\ÍPFGKPPQXCEKQPGUVGEPQNÍIKECUSWGPQGUV»EQORTGPFKFCPKGPGNCTVÇEWNQ
FGNC.G[FGN+ORWGUVQ
VCNEQOQSWGFÍTGFCEVCFQRQTNC.G[FG2TGUWRWGUVQU
PKGPNC.G[UQDTGTGEQPXGTUKÍPGKPFWUVTKCNK\CEKÍP'PVCNUGPVK
FQUGVTCVCFGWPCFKURQUKEKÍPCFOKPKUVTCVKXCSWGTGDCUCUWHWPEKÍPTGINCOGPVCTKC
KORQPKGPFQEQPFKEKQPGUSWGNCNG[PQGZKIG[RQTGPFGNKOKVCPFQGN»ODKVQFG
CRNKECEKÍPFGÃUVC'PGHGEVQNC.G[RCTCPCFCEQPFKEKQPCNCFGFWEEKÍPFGNQUICU
VQUGPKPXGUVKICEKÍP[FGUCTTQNNQCSWGFKEJCCEVKXKFCFUGCTGCNK\CFCRQTGNUWLGVQ
RCUKXQQRQTWPVGTEGTQUGCÃUVG7PKXGTUKFCFQ%GPVTQRÔDNKEQUQPQUGCFGWPRCÇU
OKGODTQFGNC%QOWPKFCF'EQPÍOKEC'WTQRGCQCLGPQCGNNC.C.G[ÔPKECOGPVG
UGËCNCWPQUNÇOKVGUCNCFGFWEEKÍPEWCPFQNQUICUVQUEQPUKUVCPGPCEVKXQUHKLQUSWG
PCVWTCNOGPVGJCDT»PFGRGTVGPGEGTCNUWLGVQRCUKXQRGTQGPNQUTGUVCPVGUECUQU
NCKPXGUVKICEKÍP[FGUCTTQNNQRWGFGNNGXCTUGCECDQRQTGNUWLGVQRCUKXQQRQTWP
VGTEGTQ[VCPFGFWEKDNGGUNQICUVCFQGPGNNCGPWPECUQEQOQGPQVTQUKGORTG
SWGUGEWORNCPNCUTGUVCPVGUEQPFKEKQPGUFGNCTVÇEWNQFGNC.G[FGN+ORWGUVQ
'PEQPENWUKÍPJCFGGUVKOCTUGSWGNQUR»TTCHQUC[DFGNCRCTVCFQFGNCTVÇEWNQ
”FGN4GCN&GETGVQFGFKEKGODTGUQPEQPVTCTKQUCNCTVÇEWNQFG
NC.G[FGN+ORWGUVQ[RQTEQPUGEWGPEKCFGDGPUGTCPWNCFQUq
'UENCTQSWGUKHCNVQFGEQDGTVWTCNGICNGUVCDCGNCTVÇEWNQFGN4GCN&GETGVQ
FGFGFKEKGODTGEQPKFÃPVKECTC\ÍPJCDTÇCFGGUVCTNQGNCTVÇEWNQ
FGN4GINCOGPVQFGN+ORWGUVQFG5QEKGFCFGUCRTQDCFQRQT4GCN&GETGVQ
FGFGQEVWDTGSWGGTCGNSWGTGUWNVCDCCRNKECDNGGPGNGLGTEKEKQ
EQPTGNCEKÍPCNCTVÇEWNQFGNC.G[GPNCTGFCEEKÍPFCFCRQTNC
.G[
CRNKECDNGCNQUGLGTEKEKQUSWGUGKPKEKCTQPGNFGGPGTQFGRQT
NQSWGNCGZKIGPEKCFGNRTKPEKRKQFGWPKFCFFGFQEVTKPCPQUVGPFTÇCSWGNNGXCTCNC
GUVKOCEKÍPFGNOQVKXQCNGICFQ
5KPGODCTIQGNRTQDNGOCUWTIGEQOQEQPUGEWGPEKCFGSWGCNCJQTCFGFGENC
TCTNQCUÇPQUGPEQPVTCOQUEQPNCEKTEWPUVCPEKCFGSWGGNCTVÇEWNQFGN4GCN
&GETGVQHWGFGTQICFQRQTGN4GCN&GETGVQ[SWGVQFQ
GNEQPLWPVQPQTOCVKXQSWGJCDÇCUKFQGN4GINCOGPVQFGNC.G[HWG
VCODKÃPFGTQICFQCRCTVKTFGFGGPGTQFGUGIÔPNQFKURWGUVQGPNC.G[
FGFGFKEKGODTGTGIWNCFQTCFGN+ORWGUVQFG5QEKGFCFGU
&KURQUKEKÍP
&GTQICVQTKC7PKEC
;GUSWGPQRWGFGFGUEQPQEGTUGNCFQEVTKPCLWTKURTWFGPEKCNFGSWGFGTQICFCWPC
PQTOCSWGFCUKPQDLGVQGNTGEWTUQGPVCDNCFQEQPVTCNCOKUOC
#UÇGPNC5GPVGPEKCFGGUVC5CNCFGFGLWNKQFG
TGEWTUQFGECUCEKÍPP”
UGJCFGENCTCFQ
p6CNEQOQFKEGPWGUVTCUGPVGPEKCFGFGOC[QFG
ECUCEKÍP
GUVG6TKDWPCNJCTGEQTFCFQGPUWUTGEKGPVGUUGPVGPEKCUFGHGEJCU[FGOC[Q
FGFGUGRVKGODTGFGFGOCT\Q[FGOC[QFG[FG
HGDTGTQ[FGNEQTTKGPVGOGU[CËQSWGNCFGUCRCTKEKÍPFGNQDLGVQFGNTGEWTUQJC
UKFQEQPUKFGTCFCGPOWEJCUQVTCUEQOQWPQFGNQUOQFQUFGVGTOKPCEKÍPFGNRTQ
EGUQ%QPVGPEKQUQ#FOKPKUVTCVKXQVCPVQEWCPFQNQKORWIPCFQGTCPFKURQUKEKQPGU
IGPGTCNGUGPSWGNCWNVGTKQTFGTQICEKÍPFGÃUVCUQUWFGENCTCEKÍPFGPWNKFCFRQT
UGPVGPEKCCPVGTKQTJCFGVGTOKPCFQNCFGUGUVKOCEKÍPFGNTGEWTUQPQRQTSWGGPUW
OQOGPVQPQGUVWXKGTGHWPFCFQUKPQRQTSWGNCFGTQICEKÍPUQDTGXGPKFCFGNCPQTOC
RTKXCCNCEQPVTQXGTUKCFGEWCNSWKGTKPVGTÃUQWVKNKFCFTGCN
CUÇUGPVGPEKCUFGFG
OCT\Q[FGOC[QFGQFGCDTKNFGEQOQGPTGEWTUQUFKTKIKFQU
EQPVTCTGUQNWEKQPGUQCEVQUCFOKPKUVTCVKXQUUKPIWNCTGUGPNQUSWGUGJCEQPUKFG
TCFQSWGFGUCRCTGEÇCUWQDLGVQEWCPFQEKTEWPUVCPEKCURQUVGTKQTGUNGURTKXCDCPFG
GHKECEKCJCUVCGNRWPVQFGFGVGTOKPCTNCFGUCRCTKEKÍPTGCNFGNCEQPVTQXGTUKC
CUÇ
GPUGPVGPEKCUFGFGOC[QFGFGOC[QFGFGLWPKQFG[
FGOC[QFGq
#JQTCDKGPFKEJCFQEVTKPCVKGPGPGEGUCTKCOGPVGSWGUGTOCVK\CFCGPCNIWPQU
ECUQU[GURGEKCNOGPVGEWCPFQCRGUCTFGNCFGTQICEKÍPNCPQTOCGUUWUEGRVKDNGFG
UGIWKTRTQFWEKGPFQGHGEVQU
'PGUVGUGPVKFQ[EQPTGHGTGPEKCCNTGEWTUQFGKPEQPUVKVWEKQPCNKFCFGN6TKDWPCN
%QPUVKVWEKQPCNGPNC5GPVGPEKCFGFGFKEKGODTGFGENCTÍ
(&
pFGDGTGEQTFCTUGSWGEQPHQTOGCTGKVGTCFCFQEVTKPCEQPUVKVWEKQPCNPQECDG
FCTWPCTGURWGUVCWPÇXQEC[IGPGTCNCNCEWGUVKÍPTGNCVKXCCNQUGHGEVQUFGNCOQ
FKHKECEKÍPFGTQICEKÍPQRÃTFKFCFGXKIGPEKCFGWPCFKURQUKEKÍPNGICNWNVGTKQTCUW
KORWIPCEKÍPUQDTGNCGXGPVWCNFGUCRCTKEKÍPFGNQDLGVQFGNQUFKXGTUQURTQEGUQU
EQPUVKVWEKQPCNGUNCEWCNJCFGXGPKTFGVGTOKPCFC†GPHWPEKÍPFGNCKPEKFGPEKC
TGCNFGNCOQFKHKECEKÍPQFGTQICEKÍPPQFGETKVGTKQUCDUVTCEVQU•
56%
HWPFCOGPVQLWTÇFKEQ”56%HWPFCOGPVQLWTÇFKEQ”56%
HWPFCOGPVQLWTÇFKEQ”56%HWPFCOGPVQLWTÇFKEQ”#GUVGTGURGEVQ
GUVG6TKDWPCNJCEWKFCFQFGFKUVKPIWKTGPVTGGNTGEWTUQ[NCEWGUVKÍPFGKPEQPU
VKVWEKQPCNKFCF†EQOQOCPKHGUVCEKQPGURTQEGUCNGUFKUVKPVCUCWPEWCPFQEQPWP
UWUVTCVQEQOÔP[CSWGCODCUVKGPGPRQTQDLGVQGNGPLWKEKCOKGPVQFGPQTOCUGP
WPECUQOGFKCPVGUWKORWIPCEKÍPFKTGEVCGKPFKTGEVCGPGNQVTQ•
56%
HWPFCOGPVQLWTÇFKEQ”'PNCUEWGUVKQPGUFGKPEQPUVKVWEKQPCNKFCFNQUGHGEVQU
GZVKPVKXQUUQDTGGNQDLGVQFGNRTQEGUQEQOQEQPUGEWGPEKCFGNCFGTQICEKÍPQOQ
FKHKECEKÍPFGNCPQTOCEWGUVKQPCFCXKGPGPFGVGTOKPCFQURQTGNJGEJQFGSWGVTCU
GUCFGTQICEKÍPQOQFKHKECEKÍPTGUWNVGQPQCRNKECDNGGPGNRTQEGUQ†CSWQ•[FG
UWXCNKFG\FGRGPFCNCFGEKUKÍPCCFQRVCTGPGNOKUOQ
56%HWPFCOGPVQ
LWTÇFKEQ”56%HWPFCOGPVQLWTÇFKEQ”56%HWPFCOGPVQ
LWTÇFKEQ”56%HWPFCOGPVQLWTÇFKEQ”'PGN»ODKVQFGNTGEWTUQFG
KPEQPUVKVWEKQPCNKFCFTGEWTUQCDUVTCEVQ[QTKGPVCFQCNCFGRWTCEKÍPQDLGVKXCFGN
QTFGPCOKGPVQEQOQUGËCNCNC56%†NCRÃTFKFCUQDTGXGPKFCFGNCXKIGP
EKCFGNRTGEGRVQNGICNKORWIPCFQJCDT»FGUGTVGPKFCGPEWGPVCRQTGUVG6TKDWPCN
RCTCCRTGEKCTUKNCOKUOCEQPNNGXCNCGZENWUKÍPFGVQFCNCCRNKECDKNKFCFFGNC.G[
RWGUUKCUÇHWGTCPQJCDTÇCUKPQSWGTGEQPQEGTSWGFGUCRCTGEKÍCNCECDCTUWXK
IGPEKCGNQDLGVQFGGUVGRTQEGUQEQPUVKVWEKQPCNSWGRQTUWUPQVCUFGCDUVTCEEKÍP
[QDLGVKXKFCFPQRWGFGJCNNCTUWGZENWUKXQUGPVKFQGPNCGXGPVWCNTGOQEKÍPFGNCU
UKVWCEKQPGULWTÇFKECUETGCFCUGPCRNKECEKÍPFGNC.G[CECUQKPEQPUVKVWEKQPCN
CTV
.16%
556%HWPFCOGPVQLWTÇFKEQ”2QTGNNQECTGEGFGUGPVKFQ
VTCV»PFQUGFGWPTGEWTUQFGKPEQPUVKVWEKQPCNKFCFRTQPWPEKCTUGUQDTGPQTOCUSWG
GNOKUOQNGIKUNCFQTJCGZRWNUCFQ[CFGFKEJQQTFGPCOKGPVQFGOQFQVQVCNUKP
WNVTCCEVKXKFCF
56%=46%>?HWPFCOGPVQLWTÇFKEQ”
HWPFCOGPVQLWTÇFKEQ”HWPFCOGPVQLWTÇFKEQ”2QTKFÃPVKECTC\ÍPRC
TCGZENWKTVQFCCRNKECEKÍPRQUVGTKQTFGNCFKURQUKEKÍPNGICNEQPVTQXGTVKFCRTKX»PFQNC
CUÇFGNXGUVKIKQFGXKIGPEKCSWGRWFKGTCEQPUGTXCTRWGFGTGUWNVCTÔVKNEQPXGPKGPVG
UWGPLWKEKCOKGPVQCWPEWCPFQJC[CUKFQFGTQICFC•
56%HWPFCOGPVQ
LWTÇFKEQ”[GPGNOKUOQUGPVKFQ56%HWPFCOGPVQLWTÇFKEQ”
.COKUOCFQEVTKPCUGTGEQIGGPNCU556%FGFGLWNKQ
(,
FGFGLWPKQ
(,[FGFGOCT\Q
(,
;FGPVTQFGGUVCLWTKUFKEEKÍPEQPVGPEKQUQCFOKPKUVTCVKXCNC5GPVGPEKCFGNC5GEEKÍP
%WCTVCFGFGHGDTGTQFGUKIWKGPFQNQURCUQUOCTECFQURQTNCCPVGTKQTFG
NCOKUOC5GEEKÍPFGFGCDTKNFGFGENCTÍGPUW(WPFCOGPVQFG&GTGEJQ
%WCTVQ
p
UQDTGNCEWGUVKÍPTGNCVKXCCNQUGHGEVQUFGNCFGTQICEKÍPQRÃTFKFCFGXKIGPEKC
FGNCPQTOCTGINCOGPVCTKCEWGUVKQPCFCSWGUGRTQFWEGEQOQEQPUGEWGPEKCFGWPC
PQTOCRQUVGTKQTGUVQGUUQDTGUKEQOQEQPUGEWGPEKCFGGNNQUGRTQFWEGQPQNC
FGUCRCTKEKÍPUQDTGXGPKFCFGNQDLGVQFGNTGEWTUQQFGNCEWGUVKÍPGUVC5CNCJCVGPKFQ
QECUKÍPFGUGËCNCTSWGPQECDGFCTWPCTGURWGUVCWPÇXQEC[IGPGTCNRWGUVQSWGJC
FGGUVCTUGCNCKPEKFGPEKCTGCNFGNCFGTQICEKÍP[PQCETKVGTKQUCDUVTCEVQU
EHT556%
[.CRÃTFKFCUQDTGXGPKFCFG
XKIGPEKCFGNQURTGEGRVQUTGINCOGPVCTKQUEWGUVKQPCFQUJCFGUGTVGPKFCGPEWGPVC
GPECFCECUQRCTCCRTGEKCTUKNCOKUOCEQPNNGXCNCGZENWUKÍPFGVQFCCRNKECDKNKFCF
FGCSWÃNNQURWGUUKCUÇHWGTCJCDTÇCSWGTGEQPQEGTSWGFGUCRCTGEKÍCNCECDCTUW
XKIGPEKCGNQDLGVQFGNRTQEGUQGPGNSWGUGEWGUVKQPCFKTGEVCOGPVGWPQURTGEGRVQU
TGINCOGPVCTKQUSWGRQTUWUPQVCUFGCDUVTCEEKÍP[QDLGVKXKFCFPQRWGFGJCNNCTUW
FGOCT\QFG
YYYFKCTKQNCNG[GU
UQNQÍTICPQGNSWGGPECFCECUQGUEQORGVGPVGRCTCEQPQEGTFGNTGEWTUQFKTGEVQ
EQPVTCGNNCUFQVCPFQUKGORTGCGUVCFGEKUKÍPFGGHKECEKC†GTICQOPGU•
'NUKUVGOCUGEQORNGVCEQPGNCTVÇEWNQFGNC.G[FGFGLWNKQC
EW[QVGPQTp%WCPFQWPLWG\Q6TKDWPCNEQORGVGPVGRCTCEQPQEGTFGWPTGEWTUQ
EQPVTCWPCEVQHWPFCFQGPNCKPXCNKFG\FGWPCFKURQUKEKÍPIGPGTCNNQHWGTGVCODKÃP
RCTCEQPQEGTFGNTGEWTUQFKTGEVQEQPVTCÃUVCNCUGPVGPEKCFGENCTCT»NCXCNKFG\Q
PWNKFCFFGNCFKURQUKEKÍPIGPGTCNq
2WGUDKGPGPGNRTGUGPVGECUQUGVTCVCFGLW\ICTNCNGICNKFCFFGWPCEVQCFOKPKU
VTCVKXQFGNKSWKFCEKÍPFKEVCFQ[EQPHKTOCFQEQPCRNKECEKÍPFGWPCPQTOCEQOQ
GUGNCTVÇEWNQFG4GCN&GETGVQFGTQICFQRQTGN4GCN&GETGVQ
[GPVQFQECUQRQTNC.G[RGTQEQPGNGHGEVQpGZPWPEqRTQRKQ
FGVQFCFGTQICEKÍPNQSWGRGTOKVGUGIWKTRTQFWEKGPFQGHGEVQUTGURGEVQFGCEVQU
FKEVCFQUOKGPVTCUNCPQTOCGUVWXQXKIGPVGEQOQGURTGEKUCOGPVGGNSWGGUQDLGVQ
FGEQPUKFGTCEKÍPGPGNRTGUGPVGTGEWTUQ
UGPVKFQGPNCGXGPVWCNTGOQEKÍPFGNCUUKVWCEKQPGULWTÇFKECUETGCFCUGPCRNKECEKÍP
FGNCUFKURQUKEKQPGUTGINCOGPVCTKCUCECUQKNGICNGUQKPEQPUVKVWEKQPCNGU
EHTCTV
.,%#[.16%56%2QTGNNQECTGEGFGUGPVKFQRTQPWPEKCTUGEWCPFQ
GNRTQRKQ'LGEWVKXQGZRWNUCNCPQTOCTGINCOGPVCTKCFGNQTFGPCOKGPVQLWTÇFKEQFG
OQFQVQVCNUKPWNVTCCEVKXKFCF
EHT556%[VCODKÃP565FG
FGFKEKGODTGFG2GTQRQTKFÃPVKECTC\ÍPRCTCGZENWKTVQFCCRNKECEKÍP
RQUVGTKQTFGNCFKURQUKEKÍPTGINCOGPVCTKCEQPVTQXGTVKFCRTKX»PFQNCFGNXGUVKIKQFG
XKIGPEKCSWGRWFKGTCEQPUGTXCTRWGFGTGUWNVCTPGEGUCTKQ
ÔVKNQEQPXGPKGPVGFKEG
NC56%GPTGNCEKÍPEQPPQTOCUNGICNGUKORWIPCFCURQTKPEQPUVKVWEKQ
PCNKFCFUWGPLWKEKCOKGPVQCWPEWCPFQJC[CUKFQFGTQICFC
EHT556%
UKPQRWGFGFGUECTVCTUGWPCGXGPVWCNCRNKECEKÍPFGNTGINC
OGPVQKORWIPCFQGPHWPEKÍPFGNVKGORQGPSWGGUVWXQXKIGPVGJCUVCUWFGHKPKVKXC
FGTQICEKÍPq
&GGUVCHQTOCGPNCTGHGTKFC5GPVGPEKCUGCFOKVKÍNCEWGUVKÍPFGKNGICNKFCFRNCP
VGCFCTGURGEVQFGNCTVÇEWNQGPTGNCEKÍPEQPGNCTVÇEWNQFGN&GETGVQ
FGFGCIQUVQTGIWNCFQTFGN4ÃIKOGP'URGEKCNFG6TCDCLCFQTGU
#WVÍPQOQU
4'6#TGFCEVCFQUEQPHQTOGCN4GCN&GETGVQFGFG
HGDTGTQSWGUKPGODCTIQJCDÇCPUKFQFGTQICFQURQTGN4GCN&GETGVQ
FGFGFKEKGODTGSWGCRTQDÍGN4GINCOGPVQ)GPGTCNUQDTG%QVK\CEKÍP[.KSWK
FCEKÍP[GN4GCN&GETGVQFGFGGPGTQSWGCRTQDÍGN4GINCOGPVQ
)GPGTCNUQDTG+PUETKREKÍPFG'ORTGUCU[#HKNKCEKÍP#NVCU$CLCU[8CTKCEKQPGUFG
&CVQUFG6TCDCLCFQTGUGPNC5GIWTKFCF5QEKCN;PQUQNQGUQUKPQSWGNC5GPVGPEKC
GUVKOÍNCEWGUVKÍPFGKNGICNKFCF[FGENCTÍSWGNQUCTVÇEWNQU[FGN&GETGVQ
FGFGCIQUVQTGIWNCFQTFGN4'6#GPNCTGFCEEKÍPFCFCRQTGN4&
FGFGHGDTGTQPQGTCPEQPHQTOGUCFGTGEJQ[UQPRQTVCPVQPWNQU
;GZRWGUVQNQCPVGTKQTEQPXKGPGVCODKÃPUGËCNCTSWGNCCPVGTKQT.G[FGNC,WTKU
FKEEKÍPFGTGEQPQEÇCFQUENCUGUFGKORWIPCEKÍPFGNCUFKURQUKEKQPGUTGINC
OGPVCTKCUGPNCRTKOGTCGNQDLGVQFKTGEVQGKPOGFKCVQFGNCKORWIPCEKÍPGTCGN
4GINCOGPVQ
FGCJÇNCFGPQOKPCEKÍPFGTGEWTUQFKTGEVQGPNCUGIWPFCNCKORWI
PCEKÍPEQPETGVCVGPÇCRQTQDLGVQWPCEVQCFOKPKUVTCVKXQEQPDCUGGPNCKNGICNKFCF
FGNCFKURQUKEKÍPIGPGTCN
TGEWTUQKPFKTGEVQ%QOQUGFKLQVCODKÃPGPNC5GPVGPEKC
FGFGHGDTGTQFGCPVGUTGHGTKFCpCODCURQUKDKNKFCFGUFGKORWIPCEKÍPUG
EQPEGDÇCPFGHQTOCKPFGRGPFKGPVGRGTQNQUGHGEVQUFGCODQUVKRQUFGTGEWTUQU
FKHGTÇCPUGIÔPUWRTQRKCEQPHKIWTCEKÍP'NTGEWTUQFKTGEVQEQPVTCGN4GINCOGPVQ
RGTOKVÇCNNGICTCNCCPWNCEKÍPIGPGTCNFGNCPQTOC%WORNÇCRWGUWPCHKPCNKFCF
RWTICVKXCFGNQTFGPCOKGPVQLWTÇFKEQOGFKCPVGNCGZRWNUKÍPFGNOKUOQ4GINCOGPVQ
KNGICNCVTCXÃUFGWPC5GPVGPEKCSWGFGURNGICDCWPCGHKECEKC†GTICQOPGU•
NC
UGPVGPEKCSWGCPWNCDCNCFKURQUKEKÍPRTQFWEÇCGHGEVQUGPVTGNCURCTVGU[TGURGEVQFG
NCURGTUQPCUCHGEVCFCURQTNCOKUOCCTVFGNC.G[FGNC,WTKUFKEEKÍPFGTQICFC
'NTGEWTUQKPFKTGEVQCRGUCTFGUWGUVKOCEKÍPPQKORNKECDCUGIÔPNCLWTKURTWFGPEKC
OC[QTKVCTKCNCFGENCTCEKÍPFGPWNKFCFFGNCPQTOCTGINCOGPVCTKCp;RQTGNNQUG
FKEGGPNCOKUOC5GPVGPEKCpCFGO»UFGOCPVGPGTCODCUENCUGUFGTGEWTUQUNC
PWGXC.G[FGNC,WTKUFKEEKÍP%QPVGPEKQUQ#FOKPKUVTCVKXCFG
KPVTQFWEGNC
EWGUVKÍPFGKNGICNKFCFRCTCGNKOKPCTVCPVQNCKPFKECFCEQPHWUKÍPUQDTGNQUGHGEVQU
FGNTGEWTUQKPFKTGEVQEWCPFQNCPQTOCSWGCRNKECGNCEVQKORWIPCFQGUEQPUKFGTCFC
EQPVTCTKCC&GTGEJQEQOQNCEQPUGEWGPEKCCÔPO»UITCXGSWGGUVGVKRQFGEQPVTQN
FKHWUQRQFÇCIGPGTCTETGCPFQUKVWCEKQPGUFGKPUGIWTKFCFLWTÇFKEC[FGFGUKIWCNFCF
OCPKHKGUVCRWGUUGIÔPGNETKVGTKQFGECFCÍTICPQLWFKEKCN[CHCNVCFGWPCKPUVCPEKC
WPKHKECFQTCSWGPQUKGORTGGZKUVÇCFGVGTOKPCFCUFKURQUKEKQPGUUGRQFÇCPCRNKECT
GPWPQUECUQUQ»ODKVQUGKPCRNKECTQVTQU.CUQNWEKÍPJCUKFQRWGUWPKHKECTNC
FGEKUKÍPLWFKEKCNUQDTGNCNGICNKFCFQKNGICNKFCFFGNCUFKURQUKEKQPGUIGPGTCNGUGPWP
;RTQEGFKGPFQGPNCHQTOCGZRWGUVCGPVGPFGOQUSWGGUPWNQGNCEVQCFOKPKUVTC
VKXQKORWIPCFQRQTSWGVCODKÃPNQGUNCFKURQUKEKÍPSWGNGUKTXGFGEQDGTVWTCGUVQ
GUGNCTVÇEWNQFGN4GINCOGPVQFGN+ORWGUVQFG5QEKGFCFGUCRTQDCFQRQT
4GCN&GETGVQFGFGQEVWDTG[CUÇFGDGOQUFGENCTCTNQEQPHQTOGCN
CTVÇEWNQFGNC.G[,WTKUFKEEKQPCNEQPGNEQPUKIWKGPVGGHGEVQpGUVWPEqKPJGTGPVG
CFKEJCFGENCTCEKÍP
2QTGNNQUGGUVKOCGNOQVKXQ
%7#461.CGUVKOCEKÍPFGNRTKOGTOQVKXQUKPPGEGUKFCFFGTGUQNXGTUQDTGGN
UGIWPFQEQPFWEGPGEGUCTKCOGPVGCNCECUCEKÍPFGNC5GPVGPEKCKORWIPCFCGP
EWCPVQEQPHKTOÍNCTGUQNWEKÍPFGN6'#%FGFGGPGTQFGSWGCUWXG\
JCDÇCEQPHKTOCFQNCNKSWKFCEKÍPFGN+ORWGUVQFG5QEKGFCFGURQTKPEWORNKOKGPVQ
FGNTGSWKUKVQGZKIKFQRQTGNCTVÇEWNQFGN4GINCOGPVQFGN+ORWGUVQFG5QEKG
FCFGUGPQTFGPFGTGUKFGPEKCGPVGTTKVQTKQGURCËQNFGNQUVGTEGTQUEQPSWKGPGUUG
EQPVTCVGPUGTXKEKQUCEQIKDNGUCFGFWEEKÍPRQTKPXGUVKICEKÍPGP+&#UWXG\NC
CPWNCEKÍPFGNCUGPVGPEKCGZKIGFGEQPHQTOKFCFEQPGNCTVÇEWNQFFGNC.G[
,WTKUFKEEKQPCNTGUQNXGTNQSWGEQTTGURQPFCFGPVTQFGNQUVÃTOKPQUGPSWGCRCTGEG
RNCPVGCFQGNFGDCVG;GNNQFGDGJCEGTUG
”'UVKOCPFQGNTGEWTUQEQPVGPEKQUQCFOKPKUVTCVKXQ[CPWNCPFQNCTGUQNWEKÍPFGN
6TKDWPCN'EQPÍOKEQ#FOKPKUVTCVKXQ%GPVTCNFGFGGPGTQFG[NKSWKFCEKÍP
FGN+ORWGUVQFG5QEKGFCFGUFGNGLGTEKEKQ
”&GENCTCPFQPWNQFGRNGPQFGTGEJQGNCTVÇEWNQFGN4GINCOGPVQFGN+O
RWGUVQFG5QEKGFCFGUCRTQDCFQRQT4GCN&GETGVQFGFGQEVWDTG
GPEWCPVQEQPFKEKQPCGNFGTGEJQCNCFGFWEEKÍPRQTKPXGTUKQPGUGPRTQITCOCUFG
KPXGUVKICEKÍPQFGUCTTQNNQCSWGGPGNECUQFGSWGUGEQPVTCVGPEQPVGTEGTQUÃUVQU
UGCPTGUKFGPVGUGP'URCËC
37+0610QJCNWICTCNCKORQUKEKÍPFGEQUVCUGPGNRTGUGPVGTGEWTUQFGECUCEKÍP
[GPEWCPVQCNCUFGKPUVCPEKCECFCRCTVGCDQPCT»NCUUW[CU
)$//$026
24+/'413WGFGDGOQUGUVKOCT[GUVKOCOQUGNRTGUGPVGTGEWTUQFGECUCEKÍP
P”KPVGTRWGUVQRQT&#TIKOKTQ8»\SWG\)WKNNÃP2TQEWTCFQTCFGNQU
6TKDWPCNGUGPPQODTGFG'/24'5#0#%+10#.&'4'5+&7154#&+1#%6+815
5#
'04'5#EQPVTCUGPVGPEKCFGNC5GEEKÍP3WKPVCFGFGNC5CNCFGNQ%QPVGP
EKQUQ#FOKPKUVTCVKXQFGNC#WFKGPEKC0CEKQPCNFGFGGPGTQFGFKEVCFC
GPGNTGEWTUQEQPVGPEKQUQCFOKPKUVTCVKXQUGPVGPEKCSWGUGECUC[CPWNC
5KPEQUVCU
5')70&13WGFGDGOQUGUVKOCT[GUVKOCOQUGNTGEWTUQEQPVGPEKQUQCFOKPKU
VTCVKXQPÔOGTQ[CPWNCTNCTGUQNWEKÍPFGN6TKDWPCN'EQPÍOKEQ#FOKPKU
VTCVKXQ%GPVTCNFGFGGPGTQFG[NKSWKFCEKÍPFGN+ORWGUVQFG5QEKGFCFGU
FGNGLGTEKEKQGPEWCPVQPQUGTGEQPQEKÍGPGNNCUNCFGFWEEKÍPRQTICUVQUGP
KPXGUVKICEKÍP[FGUCTTQNNQ5KPEQUVCU
6'4%'413WGFGDGOQUFGENCTCT[FGENCTCOQUPWNQFGRNGPQFGTGEJQGNCTVÇEWNQ
FGN4GINCOGPVQFGN+ORWGUVQFG5QEKGFCFGUCRTQDCFQRQT4GCN&GETGVQ
FGFGQEVWDTGGPNCRCTVGSWGKPFKECpUKGORTGSWGÃUVQUUGCP
TGUKFGPVGUGP'URCËCq■
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
FGOCT\QFG
YYYFKCTKQNCNG[GU
SWGUGRTGEKUCDC#NCRTKOGTCEWGUVKÍP
GPVGPFGOQUSWGUÇRGTQCNCUGIWPFC
PWGUVTCQRKPKÍPGUSWGNCUKORQTVCPVGU
NCIWPCU[FKUHWPEKQPGUFGNRTQEGFKOKGPVQ
UCPEKQPCFQTQTKIKPCFCUEQPOQVKXQFGNC
KORNCPVCEKÍPFGNRGTOKUQRQTRWPVQUPQ
JCPUKFQTGUWGNVCUPKUWDUCPCFCU
Práctica
Forense
š$FRUUDODUDOLQIUDFWRU
RDFRUUDODU
DOFLXGDGDQR"
.#.';
™#EQTTCNCTCNKPHTCEVQT
QCEQTTCNCTCNEKWFCFCPQ!
/CTKQ#40#.&1
3UHVLGHQWHGH$872029,/,67$6(8523(26$62&,$'26$($
'HVGHVXHQWUDGDHQYLJRUHQHO5HDO'HFUHWR/HJLVODWLYR
GHGHPDU]RSRUHOTXHVHDSUXHEDHOWH[WR
DUWLFXODGRGHOD/H\VREUH7U¼ILFR&LUFXODFLÍQ
GH9HKÈFXORVD0RWRU\6HJXULGDG9LDOKDVXIULGRWUHLQWD
\FLQFRUHIRUPDVOHJLVODWLYDV\UHJODPHQWDULDV
$QWHWDOQÔPHURGHPRGLILFDFLRQHVQRUPDWLYDV
FDEHSUHJXQWDUVHHQSULPHUOXJDUVLHUDQHFHVDULD
XQDQXHYDUHIRUPD\HQFDVRDILUPDWLYRVLHUDÄVWDODUHIRUPD
TXHVHSUHFLVDED
3XEOLFDGRHQODUHYLVWD6T»HKEQ[5GIWTKFCF8KCNQÔP6HFFLÍQ
7HPDVGHDFWXDOLGDGHQHUR5HI(GLWRULDO/$/(<
+#/1&1&'':14&+1
*
CEG CRTQZKOCFCOGPVG WP
CËQGNTGURQPUCDNGFGNC&K
TGEEKÍP)GPGTCNFG6T»HKEQ
UGËQT2GTG0CXCTTQLWUVKHKECDCGPWPC
VTKDWPCFGRTGPUCNCPGEGUKFCFFGWP
PWGXQRTQEGFKOKGPVQUCPEKQPCFQTGP
OCVGTKCFGVT»HKEQOCPKHGUVCPFQSWG
†'NUKUVGOCUCPEKQPCFQTFGVT»HKEQGU
WPGNGOGPVQD»UKEQ[HWPFCOGPVCNFG
NCRQNÇVKECFGUGIWTKFCFXKCN2QTSWGNQU
RCÇUGUSWGQDVKGPGPOGLQTGUTGUWNVCFQU
GPNCTGFWEEKÍPFGNCUKPKGUVTCNKFCFUQP
NQUSWGFKURQPGPFGRQNÇVKECUUCPEKQPC
FQTCUO»U»IKNGU[GHKECEGU•&GUFG
PWGUVTQRWPVQFGXKUVCPQRQFÇCOQU
GUVCTO»UFGCEWGTFQEQPFKEJQRNCP
VGCOKGPVQ[RQTGUQCRQ[COQUKPKEKCN
OGPVGNCTGHQTOCSWGUGRTQ[GEVCDC#
PWGUVTQLWKEKQGTCPGEGUCTKQSWGGNNG
IKUNCFQTFQVCTCCNCUFKUVKPVCUCFOKPKU
VTCEKQPGUFGNQUKPUVTWOGPVQULWTÇFKEQU
PGEGUCTKQURCTCSWGRWFKGTCPNNGXCTUG
CECDQNQUQDLGVKXQUSWGWPCUQEKGFCF
OQFGTPC[FGUCTTQNNCFCGZKIGGPOCVG
TKCFGUGIWTKFCFXKCN
5KPGODCTIQVCODKÃPRNCPVGCOQUSWG
NCTGHQTOCPQRQFÇCJCEGTUGCEQUVCFG
EGTEGPCTFGTGEJQUFGNQUEKWFCFCPQU
RQTSWGNCUGIWTKFCFXKCNPQGUV»TGËKFC
PQVKGPGRQTSWÃGUVCTTGËKFCEQPNC
UGIWTKFCFLWTÇFKECFGNQUEKWFCFCPQU;
GUVQGUNQSWGCPWGUVTQLWKEKQJCUWEG
FKFQEQPNCTGHQTOCFGNC.G[FG6T»HKEQ
%KTEWNCEKÍPFG8GJÇEWNQUCOQVQT[5G
IWTKFCF8KCNTGEKGPVGOGPVGCRTQDCFC
3WK\»UNCHCNVCFGEQPUGPUQGPVTGNQU
FKUVKPVQU ITWRQU RCTNCOGPVCTKQU JC
KORGFKFQNCGNCDQTCEKÍPFGWPVGZVQ
PQTOCVKXQO»UEQPEKNKCFQTGPVTGNQU
FKUVKPVQUDKGPGULWTÇFKEQUCRTQVGIGT
UGIWTKFCFXKCNUGIWTKFCFLWTÇFKECGVE
5KPGODCTIQFGDGOQUNCOGPVCTSWG
FGVGTOKPCFQUCURGEVQUFGNCTGHQTOC
UGJC[CPNKOKVCFQCNGICNK\CT†CEVQUFG
NC#FOKPKUVTCEKÍP•JCUVCCJQTCFGENC
TCFQUPQEQPHQTOGUC&GTGEJQRQTNQU
LWGEGU[6TKDWPCNGU
++™'4#0'%'5#4+#
.#4'(14/#!
&GUFGUWGPVTCFCGPXKIQTGP
GN4GCN&GETGVQ.GIKUNCVKXQ
FGFGOCT\QRQTGNSWGUGCRTWG
DCGNVGZVQCTVKEWNCFQFGNC.G[UQDTG
6T»HKEQ %KTEWNCEKÍP FG 8GJÇEWNQU C
/QVQT[5GIWTKFCF8KCN
GPCFGNCPVG
CDTGXKCFCOGPVG.58JCUWHTKFQQPEG
OQFKHKECEKQPGUNGIKUNCVKXCUJCVGPKFQ
EKPEQFGUCTTQNNQUTGINCOGPVCTKQUSWG
CUWXG\JCPUKFQOQFKHKECFQUFKGEK
PWGXGXGEGU
GNÔNVKOQEQPVCDKNK\CFQGU
GNPWGXQ4GINCOGPVQIGPGTCNFG%QP
FWEVQTGUGPXKIQTFGUFGGNRCUCFQFG
FKEKGODTG'PVQVCNUGJCPRTQFWEKFQ
VTGKPVC[EKPEQTGHQTOCUNGIKUNCVKXCU[
TGINCOGPVCTKCUGPXGKPVGCËQU
;CPVGVCNPÔOGTQFGOQFKHKECEKQPGUPQT
OCVKXCUECDGRTGIWPVCTUGGPRTKOGTNW
ICTUKGTCPGEGUCTKCWPCPWGXCTGHQTOC[
GPECUQCHKTOCVKXQUKGTCÃUVCNCTGHQTOC
+++'.2'4/+51
214270615%1/1','
&'.#4'(14/#
'P GN RTG»ODWNQ FG NC NG[ TGEKGPVG
OGPVGCRTQDCFCUGLWUVKHKECNCTGHQTOC
GPSWG†TGUWNVCKORTGUEKPFKDNGUGIWKT
CXCP\CPFQGPGNECOKPQTGEQTTKFQ•FGN
UKUVGOCFGPQOKPCFQRGTOKUQ[NKEGPEKC
FGEQPFWEEKÍPRQTRWPVQU[RCTCGNNQ
GUPGEGUCTKQCPCNK\CTNQURQUKDNGUHCNNQU
FGNUKUVGOCFKTKIKGPFQGNITWGUQFGNCU
ETÇVKECUJCEKCGNGNGOGPVQSWGRTGEGFG
CVQFCFGVTCEEKÍPFGRWPVQUGNRTQEG
FKOKGPVQUCPEKQPCFQT
$»UKECOGPVGUQPVTGUNCUFKUHWPEKQPGU
SWGCRWPVCGN)QDKGTPQ”.CGZEGUKXC
FKNCEKÍPFGNRTQEGFKOKGPVQGPGNVKGO
RQ”.CUGPUCEKÍPFGKORWPKFCFFGTK
XCFCFGUWRTQNQPICEKÍPGPGNVKGORQ[
”.CKPEGTVKFWODTGSWGGPNCOC[QTÇC
FGNQUEQPFWEVQTGURTQXQECGNFGUEQ
PQEKOKGPVQCEGTECFGNCGZKUVGPEKCFG
CNIWPQFGGUVQURTQEGFKOKGPVQUGPNQU
SWGRWFKGTCGUVCTKPEWTUQ
2CTCEQTTGIKTNCUUGRTQRQPGPNCUUKIWKGP
VGUOGFKFCUC#DQTFCTWPCCFGEWCFC
EQPHKIWTCEKÍPFGNUKUVGOCFGTGURQP
UCDKNKFCFGPNQUUWRWGUVQUGPSWGNC
KFGPVKHKECEKÍPPQRWGFGRTQFWEKTUGGPGN
CEVQFGNCEQOKUKÍPFGNJGEJQKPHTCEVQT
D6TCPUOKVKTCNKPHTCEVQTNCUGPUCEKÍP
FGWPCLWUVKEKCCFOKPKUVTCVKXCFGNVT»
HKEQTGCNOGPVGKPOGFKCVCFGUVGTTCPFQ
NCUGPUCEKÍPFGKORWPKFCFFGTKXCFCFG
RTQEGFKOKGPVQUNCTIQU[HQTOCNKUVCUE
6GPGTRTGUGPVGNCCORNKCLWTKURTWFGPEKC
TGNCVKXCCNGLGTEKEKQFGNLXVSXQLHQGLRQT
RCTVGFGNC#FOKPKUVTCEKÍP[F%QPU
VTWKTWPRTQEGFKOKGPVQGURGEKCNRCTCGN
»ODKVQUCPEKQPCFQTFGNVT»HKEQFQPFG
RWGFCPUGTVGPKFCUGPEWGPVCNCUGU
RGEKCNKFCFGUSWGNQFKHGTGPEKCPFGNQU
FGO»URTQEGFKOKGPVQUCFOKPKUVTCVKXQU
EQOQUQPUWECT»EVGTOCUKXQGNSWG
NQUJGEJQUFGNCEKTEWNCEKÍPPQFGLCP
JWGNNCNCFKXGTUKFCFFGCFOKPKUVTCEKQ
PGUSWGKPVGTXKGPGP[NCUCPEKÍPEQOQ
GNGOGPVQFGRTGXGPEKÍP
'NGPWPEKCFQUQPCDCOW[DKGPRQTSWG
RQTHKPUGKDCPCEQPLWICTNCUICTCPVÇCU
LWTÇFKECUFGNQUEKWFCFCPQUEQPNCGHKEC
EKCCFOKPKUVTCVKXC5KPGODCTIQGNTG
UWNVCFQHKPCNFGNCTGHQTOCJCUKFQVQFC
WPCUQTRTGUC[CSWGUGJCCRTQDCFQWP
VGZVQRCTEJGCFQRQEQEQJGUKQPCFQG
KPENWUQEQPVTCFKEVQTKQFQPFGNQSWGJC
RTKOCFQPQGUGNKPVGTÃUIGPGTCNUKPQNC
CFCRVCEKÍPFGNCNG[CNCRT»EVKECCFOK
PKUVTCVKXCNNGXCFCCECDQJCUVCCJQTCRQT
NQUFKUVKPVQUÍTICPQUFGNC#FOKPKUVTC
EKÍPEQORGVGPVGGPOCVGTKCFGVT»HKEQ
'PGUGPEKCNQSWGUGJCJGEJQJCUKFQKP
ETGOGPVCTUWUVCPEKCNOGPVGGNKORQTVGFG
NCUOWNVCUCFCRVCTNCNG[CNCURT»EVKECU
CFOKPKUVTCVKXCUJCUVCCJQTCFGENCTCFCU
KNGICNGURQTNQU6TKDWPCNGUOGPQUECDCT
NCUICTCPVÇCULWTÇFKECUFGNQUEKWFCFCPQU
[RTQXQECTWPCKPEGTVKFWODTGKPPGEGUCTKC
GPNCCRNKECEKÍPFGNCPQTOCEQPITCXG
TKGUIQRCTCNCUGIWTKFCFXKCN
;TGURGEVQFGNUKUVGOCFGNRGTOKUQRQT
RWPVQUSWGGTCNCGZEWUCRCTCTGHQT
OCTNCNG[UGIÔPUGPQUKPFKECDCGPGN
RTG»ODWNQPCFCUGOQFKHKECPKUGEQ
TTKIG1CNOGPQUPCFCUWUVCPEKCNEQP
NQSWGNCUFKUHWPEKQPGUQDUGTXCFCUGP
NCCRNKECEKÍPFGNCPQTOCUGOCPVKGPGP
CËCFKÃPFQUGQVTCUPWGXCUEQOQXGTG
OQUO»UCFGNCPVG
+8+0%4'/'061
5756#0%+#.'0'.+/2146'
&'.#5/7.6#5
'PTGNCEKÍPEQPGUVCRTKOGTCEWGUVKÍP
NCNG[LWUVKHKECNCFGVGTOKPCEKÍPFGNQU
PWGXQUKORQTVGUFGNCUOWNVCUCKORQ
PGTGPDCUGCNCU†ITCPFGUFKHGTGPEKCU
GPGNTGRTQEJGLWTÇFKEQRQTWPQUJGEJQU
UKOKNCTGU•GPVTGNCUFKHGTGPVGU#FOKPKU
VTCEKQPGUEQPEQORGVGPEKCUGPOCVGTKC
FGVT»HKEQ†&GGUVGOQFQ[GURGEKCN
OGPVGGPNCKPHTCEEKÍPEQPUKUVGPVGGP
GZEGFGTGNNÇOKVGFGXGNQEKFCFKPFKECGP
UWRTG»ODWNQGNEKWFCFCPQVGPFT»EGT
VG\CCDUQNWVCFGNCUEQPUGEWGPEKCUFGUW
EQORQTVCOKGPVQKPHTCEVQTKPFGRGPFKGP
VGOGPVGFGNC#FOKPKUVTCEKÍPSWGUQDTG
ÃNGLGT\CNCEQORGVGPEKCUCPEKQPCFQTC•
2WGUDKGPCRGUCTFGSWGNCUFKHGTGP
EKCUGPNQUKORQTVGUUGXCPCUGIWKT
RTQFWEKGPFQ[CSWGNCPWGXCPQTOC
RGTOKVG SWG UG CRNKSWG WP TGECTIQ
FGJCUVCWPGPNCEWCPVÇCFGNCU
OWNVCUNQEKGTVQGUSWGNCUUCPEKQPGU
XCPCUWHTKTWPCKORQTVCPVGUWDKFC#UÇ
NCUKPHTCEEKQPGUNGXGUSWGJQ[UGUCP
EKQPCPEQPOWNVCFGJCUVCGWTQU
UWDGPJCUVCGWTQUNCUITCXGUJQ[
EQPOWNVCFGJCUVCGWTQUUG
UCPEKQPCT»PEQPOWNVCUFGJCUVC
GWTQU [ NCU OW[ ITCXGU SWG JQ[ UG
ECUVKICPEQPOWNVCFGJCUVC
GWTQU OCËCPC UG UCPEKQPCT»P EQP
OWNVCFGJCUVCGWTQU
.QUGZEGUQUFGXGNQEKFCFUGUCPEKQPCT»P
EQPHQTOGCWPEWCFTQKPFGRGPFKGPVGGP
GNSWGGPVÃTOKPQUIGPGTCNGUNCUCPEKÍP
UGT»OC[QT#UÇCWPEQPFWEVQTSWGEKT
EWNGCMOJRQTWPCCWVQRKUVCJQ[
UGNGUCPEKQPCTÇCEQPWPCOWNVCFG
GWTQU%QPNCPWGXCNG[NCOWNVCGUFG
JCUVCGWTQU'UQUÇGNFGUEWGPVQRQT
RTQPVQRCIQCWOGPVCFGNCNEQP
NQSWGCNHKPCNGPNWICTFGRCICTNQUCE
VWCNGUGWTQUUGRCICT»P|GWTQU
FGOCT\QFG
YYYFKCTKQNCNG[GU
HKTOG\CGPXÇCCFOKPKUVTCVKXC•RGTQPQ
GUVCDNGEGPKPIWPCEQPUGEWGPEKCGPECUQ
FGKPEWORNKOKGPVQFGFKEJCQDNKICEKÍP
6CODKÃPNCUUCPEKQPGUCNCUSWGFGDGP
JCEGTHTGPVGNQUVKVWNCTGUFGXGJÇEWNQU
SWGPQKFGPVKHKSWGPCNKPHTCEVQTEWCPFQ
UGCTGSWGTKFQRQTNC#FOKPKUVTCEKÍPRC
UCPFGWPO»ZKOQFGGWTQUCWP
VQRGFGGWTQU;CSWKGPGUUGNGU
NQECNKEGEKTEWNCPFQEQPWPKPJKDKFQTFG
TCFCTUGNGUUCPEKQPCT»EQPWPCOWNVC
FGGWTQURWFKÃPFQUGKPETGOGP
VCTWPO»U
8.')#.+<#424›%6+%#5
#&/+0+564#6+8#5
&'%.#4#&#5+.')#.'5
5GKPFKECVCODKÃPGPGNRTG»ODWNQFG
NC.G[†SWGGUKORTGUEKPFKDNGNNGXCTC
ECDQWPCTGHQTOCKPVGITCNFGNRTQEG
FKOKGPVQUCPEKQPCFQTSWGVTCPUOKVCCN
KPHTCEVQTNCUGPUCEKÍPFGWPCLWUVKEKC
CFOKPKUVTCVKXCFGNVT»HKEQTGCNOGPVG
KPOGFKCVCFGUVGTTCPFQNCUGPUCEKÍPFG
KORWPKFCFFGTKXCFCFGRTQEGFKOKGPVQU
NCTIQU[HQTOCNKUVCU;VQFQGNNQVGPKGP
FQUKGORTGRTGUGPVGNCCORNKCLWTKURTW
FGPEKCTGNCVKXCCNGLGTEKEKQFGNLXVSX
QLHQGLRQTRCTVGFGNC#FOKPKUVTCEKÍP•
&GUFGNWGIQSWGGPNCTGHQTOCCRTQ
DCFCUGJCVGPKFQRTGUGPVG†NCCORNKC
LWTKURTWFGPEKCTGNCVKXCCNGLGTEKEKQFGN
LXVSXQLHQGLRQTRCTVGFGNC#FOKPKUVTC
EKÍP•RGTQRCTCOGTOCTNCUICTCPVÇCU
FGNQUEKWFCFCPQU[NGICNK\CTCEVWCEKQ
PGUCFOKPKUVTCVKXCUFGENCTCFCUKNGICNGU
RQTNQU6TKDWPCNGU#UÇNCUPWOGTQUCU
UGPVGPEKCUSWGJCPXGPKFQEQPFGPCP
FQCNCUFKUVKPVCUCFOKPKUVTCEKQPGUEQP
EQORGVGPEKCGPOCVGTKCFGVT»HKEQRQT
CDWUCTFGNUKUVGOCFGPQVKHKECEKÍPGFKE
VCNRQTGZKIKTRTWGDCUFKCDÍNKECUGPNC
CRQTVCEKÍPFGFQEWOGPVQUCETGFKVCVK
XQUFGNCKFGPVKFCFFGNEQPFWEVQTKP
HTCEVQTNCUSWGJCPFGLCFQUKPGHGEVQ
UCPEKQPGUFGEWCPVÇCO»ZKOCRQTPQ
KFGPVKHKECTCNKPHTCEVQTNCUSWGJCPFG
ENCTCFQPWNCUFGVGTOKPCFCUQTFGPCP\CU
OWPKEKRCNGURQTEQPVGORNCTUCPEKQPGU
ÔPKECUGPUWITCFQO»ZKOQEWCPFQNC
NG[KPFKECDCPSWGFGDÇCPOQFWNCTUG
FGLCT»PFGVGPGTXCNQTRQTSWGCRCTVKT
FGCJQTCVQFCUGUVCUCEVWCEKQPGUUGT»P
NGICNGU'NNGIKUNCFQTCKPUVCPEKCUFGN
)QDKGTPQUÍNQJCVGPKFQSWGTGEQRKNCT
†NCCORNKCLWTKURTWFGPEKCTGNCVKXCCN
GLGTEKEKQFGNLXVSXQLHQGLRQTRCTVGFG
NC#FOKPKUVTCEKÍP•GPCSWGNNQUECUQU
GPNQUSWGNQURTQPWPEKCOKGPVQUGTCP
HCXQTCDNGUCNQUEKWFCFCPQU[FGUHCXQ
TCDNGUCNC#FOKPKUVTCEKÍPRCTCTGFCEVCT
NCNG[GPGNUGPVKFQFGCORCTCTCEVQU
CFOKPKUVTCVKXQUJCUVCCJQTCKNGICNGU
8+/'015%#$1
&'.#5)#4#06§#5
,74§&+%#5
&'.15%+7&#&#015
1VTQFGNQUCURGEVQUSWGCHGEVCPGICVK
XCOGPVGCNCUICTCPVÇCUFGNQUEKWFCFC
PQU[SWGTGUWNVCKPEQPITWGPVGEQPNCU
TC\QPGUCFWEKFCURCTCLWUVKHKECTNCTGHQT
OCFGNRTQEGFKOKGPVQUCPEKQPCFQTGUNC
CORNKCEKÍPFGNRNC\QFGRTGUETKREKÍPFGNC
GLGEWEKÍPFGNCUUCPEKQPGUFGWPQCEWC
VTQCËQU.NCOCNCCVGPEKÍPGUVGCURGEVQ
RQTEWCPVQKPUKUVGPVGOGPVGUGJCJGEJQ
ETGGTCNCQRKPKÍPRÔDNKECSWGGNRTQEGFK
OKGPVQUCPEKQPCFQTGURCËQNGTCNCTIQ[
HCTTCIQUQ[SWGGTCPGEGUCTKQCFCRVCTNQ
CWPUKUVGOCGSWKXCNGPVGCNFGNQULWKEKQU
T»RKFQU;GUXGTFCFSWGUGJCCDTGXKCFQ
GNRTQEGFKOKGPVQRGTQUÍNQTGURGEVQC
NQURNC\QUSWGCHGEVCPCNQUEKWFCFCPQU
[CNQUTGEWTUQUSWGÃUVQURWGFGPKPVGT
RQPGTRQTSWGNQURNC\QUSWGCHGEVCPC
NC#FOKPKUVTCEKÍPJCPCWOGPVCFQPQVC
DNGOGPVG;CUÇGNRNC\QFGRTGUETKREKÍP
FGNCUUCPEKQPGUUGJCOWNVKRNKECFQRQT
EWCVTQEQPNQEWCNPQUÍNQPQUGCDTGXKCGN
RTQEGFKOKGPVQUKPQSWGUGHQOGPVCEQP
GNNQNCHCNVCFGFKNKIGPEKCGPNCVTCOKVC
EKÍP[EQDTQFGNCUOWNVCURQTRCTVGFG
NC#FOKPKUVTCEKÍP#GNNQJC[SWGCËCFKT
NCUWUVKVWEKÍPFGNTGEWTUQFGCN\CFCRQT
GNFGTGRQUKEKÍPEQPNQEWCNUGGNKOKPC
FGJGEJQNCRQUKDKNKFCFFGTGXKUCTNCUTG
UQNWEKQPGUGPWPCKPUVCPEKCUWRGTKQTRCTC
EQTTGIKTRQUKDNGUGTTQTGU
#PWGUVTQLWKEKQNCUKVWCEKÍPFGKPFGHGP
UKÍPGPSWGUGFGLCCNEKWFCFCPQGURC
VGPVGSWKGPSWKGTCGLGTEKVCTUWFGTGEJQ
CNCFGHGPUCKPENWUQCPVGNCLWTKUFKEEKÍP
EQPVGPEKQUQCFOKPKUVTCVKXCKT»UKGORTG
XGPEKFQGLGEWVCFQ[EQPOÇPKOCURQUK
DKNKFCFGURQTPQFGEKTPKPIWPCFGTGEW
RGTCTNQUICUVQUGPSWGJCRQFKFQKPEWTTKT
RCTCFGHGPFGTUWUNGIÇVKOQUFGTGEJQU
8++5+56'/#5
&'4'52105#$+.+&#&
&'&7&15#
%1056+67%+10#.+&#&
1VTQCURGEVQFGUVCECDNGFGNCTGHQTOC
FGFWFQUCEQPUVKVWEKQPCNKFCFGUGNGU
VCDNGEKOKGPVQFGNCTGURQPUCDKNKFCFFGN
VKVWNCTFGNXGJÇEWNQRQTNCUKPHTCEEKQPGU
FGGUVCEKQPCOKGPVQRTGXKUVCGPGNCTV
ICUÇEQOQNCTGURQPUCDKNKFCFUWD
UKFKCTKCFGNRCIQFGNCUOWNVCURQTRCTVG
FGNQUVKVWNCTGUFGNQUXGJÇEWNQURTGXKUVQ
GPGNCTVGPECUQFGSWGGNEQPFWEVQT
KPHTCEVQTPQUGJCICECTIQFGGNNCU
'PGUVGUGPVKFQGNVGZVQCRTQDCFQVKGPG
WPCITCPUKOKNKVWFEQPGNCTVFGN
%ÍFKIQFGNC%KTEWNCEKÍPJQ[FGTQICFQ
CRTQDCFQGPGNTÃIKOGPCPVGTKQT[UQDTG
GNEWCNGN6TKDWPCN%QPUVKVWEKQPCNRNCP
VGÍUWUFWFCU[CSWGSWGDTCDCGNRTKP
EKRKQFGTGURQPUCDKNKFCFRGTUQPCNÇUKOC
FGNCUKPHTCEEKQPGU[FGNCUUCPEKQPGU
8+++015'*#0
%144')+&1.15(#..15
&'.2'4/+51214270615
6CN[EQOQGZRQPÇCOQUCPVGTKQTOGPVG
NCTGHQTOCFGNC.58PQJCCDQTFCFQ
GPOQFQCNIWPQPKPIWPQFGNQUHCNNQU
SWGVKGPGGNUKUVGOCFGNRGTOKUQRQT
RWPVQU[SWGGTCGNOQVKXQRTKPEKRCN
RCTCTGHQTOCTNCNG[
&GUFGUWGPVTCFCGPXKIQTGNFÇCFG
LWNKQFGGNRGTOKUQRQTRWPVQUPQ
UGJCCRNKECFQEQPKIWCNFCFGPVQFQGN
VGTTKVQTKQPCEKQPCNPKUGJCCRNKECFQRQT
KIWCNCVQFQUNQUVKVWNCTGUFGRGTOKUQUQ
NKEGPEKCUFGEQPFWEEKÍPGZRGFKFQURQT
NCUCWVQTKFCFGUGURCËQNCURQTEWCPVQ
PQ GZKUVG TGIWNCEKÍP RTQEGFKOGPVCN
GPECOKPCFCCSWGNQU/WPKEKRKQUEQP
EQORGVGPEKCUGLGEWVKXCUGPOCVGTKCFG
VT»HKEQUGEQQTFKPGPEQPNQUFKUVKPVQU
ÍTICPQUFGNC#FOKPKUVTCEKÍPFGN'U
VCFQRCTCEQOWPKECTGPNQURNC\QU[
HQTOCTGIWNCFQUGPNCPQTOCNGICNNCU
UCPEKQPGUHKTOGUKORWGUVCURQTNCUTGU
RGEVKXCUCWVQTKFCFGUOWPKEKRCNGU[SWG
NNGXCPCRCTGLCFCNCRÃTFKFCFGRWPVQU
'NCTVFGNC.58GUVCDNGEGSWG†.CU
UCPEKQPGUITCXGU[OW[ITCXGUFGDGT»P
UGTEQOWPKECFCUCN4GIKUVTQFG%QP
FWEVQTGUG+PHTCEVQTGURQTNC#WVQTKFCF
SWGNCJWDKGTCKORWGUVQGPGNRNC\QFG
NQUSWKPEGFÇCUPCVWTCNGUUKIWKGPVGUCUW
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
;GNNQVKGPGWPCITCPKORQTVCPEKCRQT
EWCPVQFKEJCQOKUKÍPKORKFGHKLCTEQP
EGTVG\CGNGLHVDTXRFGUFGGNEWCNUG
FGDGEQORWVCTGNKPKEKQFGNRNC\QFGTG
EWRGTCEKÍPFGNUCNFQFGRWPVQUCVGPQT
FGNQGUVCDNGEKFQGPNCFKURQUKEKÍPCFK
EKQPCNRTKOGTCFGNC.58SWGPQUWHTG
XCTKCEKÍPEQPGUVCTGHQTOC†%WCPFQWP
EQPFWEVQTUGCUCPEKQPCFQGPHKTOGGP
XÇCCFOKPKUVTCVKXCRQTNCEQOKUKÍPFG
CNIWPCFGNCUKPHTCEEKQPGUITCXGUQOW[
ITCXGUSWGUGTGNCEKQPCPGPGNCPGZQ++
NQURWPVQUSWGEQTTGURQPFCFGUEQPVCT
FGNETÃFKVQSWGRQUGCGPUWRGTOKUQQ
NKEGPEKCFGEQPFWEEKÍPSWGFCT»PFGU
EQPVCFQUFGHQTOCCWVQO»VKEC[UKOWN
V»PGCGPGNOQOGPVQGPSWGUGRTQEGFC
CNCCPQVCEKÍPFGNCEKVCFCUCPEKÍPGPGN
4GIKUVTQFGEQPFWEVQTGUG+PHTCEVQTGU
SWGFCPFQEQPUVCPEKCGPFKEJQ4GIKU
VTQFGNETÃFKVQVQVCNFGRWPVQUFGSWG
FKURQPICGNVKVWNCTFGNCCWVQTK\CEKÍP•
'UFGEKTSWGUKWPOWPKEKRKQKPEWORNG
UWQDNKICEKÍPFGEQOWPKECTCN4GIKUVTQ
FG%QPFWEVQTGUG+PHTCEVQTGUGPGNRNC
\QFGFÇCUPCVWTCNGUGUVCDNGEKFQUNC
HKTOG\CFGWPCUCPEKÍPITCXGQOW[
ITCXGFGOQTCPFQRQTGLGORNQUGKUOG
UGUFKEJCEQOWPKECEKÍPNCEQPUGEWGP
EKCPGICVKXCSWGUWHTKT»GNCWVQOQXKNKUVC
SWGPQXWGNXCCEQOGVGTPKPIWPCKP
HTCEEKÍPITCXGEQPRÃTFKFCFGRWPVQUGU
SWGUWUCNFQKPKEKCNFGRWPVQUPQNQ
XCCTGEWRGTCTGPCËQUUKPQGPCËQU
[OGUGU'KFÃPVKEQUGHGEVQUPGICVKXQU
VGPFTÇCTGURGEVQCWPCJKRQVÃVKECRÃT
FKFCVQVCNFGRWPVQUECUQFGSWGRQT
NCFGOQTCGPNCEQOWPKECEKÍPFGNCU
UCPEKQPGUUGEQPVCDKNK\CTCWPCRÃTFKFC
FGNQURWPVQUKPKEKCNOGPVGCUKIPCFQU
6CORQEQUGJCKPEQTRQTCFQCNVGZVQ
NGICNPKPIWPQFGNQURTQPWPEKCOKGP
VQUSWGGN6TKDWPCN5WRTGOQJK\QGP
UWENCTKHKECFQTCUGPVGPEKCFGNRCUCFQ
FGLWPKQQDVGPKFCRQT#'#CHCXQTFG
NQUCWVQOQXKNKUVCUGURCËQNGU'PGNNCUG
FGVGTOKPÍNCPCVWTCNG\CUCPEKQPCFQTC
FGNCRÃTFKFCFGRWPVQU[NCRQUKDKNKFCF
FGTGEWTTKTNCKPENWUQFGHQTOCKPFGRGP
FKGPVGCNCUCPEKÍPGEQPÍOKECQCWP
SWGUGJWDKGTCCEQIKFQGNKPVGTGUCFQC
NCOQFCNKFCFFGRCIQEQPFGUEWGPVQ
.CUKORQTVCPVGUFKUHWPEKQPGUSWGVKGPG
GNRGTOKUQRQTRWPVQUFGUFGUWKORNCP
VCEKÍPPQUGJCPEQTTGIKFQUKPQSWGUG
OCPVKGPGPGKPENWUQGPVTCPGPENCTQ
EQPHNKEVQEQPGNPWGXQRTQEGFKOKGPVQ
UCPEKQPCFQT#UÇRQTGLGORNQGNPWG
XQCTVTGNCVKXQCNRTQEGFKOKGPVQ
UCPEKQPCFQTCDTGXKCFQPQCENCTCUKNC
TGPWPEKCCHQTOWNCTCNGICEKQPGURQT
CEQIGTUGCNRCIQXQNWPVCTKQFGNCOWN
VCCHGEVCVCODKÃPCNCRQUKDKNKFCFFG
HQTOWNCTCNGICEKQPGUUQDTGNCRÃTFKFC
RCTEKCNFGRWPVQU
FGOCT\QFG
YYYFKCTKQNCNG[GU
+:#52'%615
%1064#&+%614+15
&'.#4'(14/#
6CN[EQOQKPFKE»DCOQUCNEQOKGP\Q
FGPWGUVTCGZRQUKEKÍPSWK\»UNCHCNVC
FGEQPUGPUQGPVTGNQUFKUVKPVQUITWRQU
RCTNCOGPVCTKQUJC[CRQFKFQRTQXQECT
SWGGNVGZVQFGNC.58EQPVGPICCFG
O»UCURGEVQUEQPVTCFKEVQTKQUGPVTGUÇQ
RQEQCFGEWCFQURCTCNCUGIWTKFCFXKCN
#UÇRQTGLGORNQPQUGRWGFGFGVGTOK
PCTEQPENCTKFCFEW»NGUGNRNC\QRCTC
HQTOWNCTCNGICEKQPGUQRCTCRCICTEQP
FGUEWGPVQ[CSWGOKGPVTCUGPGNCTV
UGKPFKECSWGUQPXGKPVGFÇCUPCVW
TCNGUGPGNCTVUGJCDNCFGSWKPEG
6CORQEQJCSWGFCFQENCTQUKNQUFG
VGEVQTGUFGTCFCTGUV»PRTQJKDKFQUQ
PQ[CSWGGNCTVJUQNQRTQJÇDG
†%QPFWEKTXGJÇEWNQUSWGVGPICPKPU
VCNCFQUKPJKDKFQTGUFGTCFCTQEWCNGU
SWKGTCQVTQUOGECPKUOQUGPECOKPCFQU
CKPVGTHGTKTGPGNEQTTGEVQHWPEKQPC
OKGPVQFGNQUUKUVGOCUFGXKIKNCPEKC
FGNVT»HKEQ•;NQUFGVGEVQTGUFGTCFCT
PQCNVGTCPKPJKDGPPKRGTVWTDCPNCUG
ËCNGOKVKFCRQTNQUTCFCTGU
7PCXG\O»UUGRQPGFGOCPKHKGUVQ
SWGNCTGHQTOCQRGTCFCGPNC.58PQ
GUGPCDUQNWVQWPOQFGNQFGVÃEPKEC
NGIKUNCVKXC+PENWUQJC[CURGEVQUEQ
OQNCTGIWNCEKÍPFGNCUKPHTCEEKQPGU
RQT GZEGUQ FG XGNQEKFCF EQOGVKFCU
†GPNQUVTCOQUFGCWVQRKUVCU[CWVQ
RKUVCUKPVGTWTDCPCUFGCEEGUQCNCUEKW
FCFGU•SWGUQPEQPVTCTKQUCNGURÇTKVW
SWGJCEGVCPUÍNQFQUCËQUKPURKTÍNC
TGHQTOCFGN%ÍFKIQ2GPCNGPOCVGTKC
FGFGNKVQUEQPVTCNCUGIWTKFCFXKCN#
PWGUVTQLWKEKQGNVGZVQKPEQTRQTCFQ
:%10%.75+10'5
6CN[EQOQJCXGPKFQFGENCTCPFQPWGU
VTQ 6TKDWPCN 5WRTGOQ †RQECU EQUCU
RWGFGP ECWUCT OC[QT CNCTOC UQEKCN
SWGNCGZKUVGPEKCFGWPCQTICPK\CEKÍP
CFOKPKUVTCVKXCGPECTICFCFGIGUVKQPCT
NCEKTEWNCEKÍPXKCN[FGICTCPVK\CTSWG
NQUHKPGURÔDNKEQUFGUGIWTKFCF[GNKOK
PCEKÍPFGTKGUIQVQFQGNNQGPFGHGPUC
FGNCXKFC•UKUGXKGTCQDUVCEWNK\CFCGP
UWFGUGORGËQ†RQTSWGGNGLGTEKEKQFG
UWUHWPEKQPGURTGXGPVKXCU[TGRTGUQTCU
TGUWNVCTCPFGJGEJQKPGHKEC\RQTNCKO
RQUKDKNKFCFFGTGUQNXGTEQPNCO»ZKOC
TCRKFG\[UKPOGTOCFGNCUICTCPVÇCU
FGDKFCUCNRTGUWPVQKPHTCEVQTNQUTG
EWTUQUEQPVTCUWCEVWCEKÍPUCPEKQPC
FQTC•5KPGODCTIQFGDGOQUCFXGTVKT
SWGGPQECUKQPGUGNNQPQFGRGPFGFG
NCUPQTOCUSWGFGDGPCRNKECTUGUKPQ
FGNCCEVWCEKÍPFKNKIGPVG
QPGINKIGPVG
FGCSWGNNQUSWGVKGPGPNCTGURQPUCDKNK
FCFFGJCEGTNCUEWORNKT;FGUFGNWGIQ
PWPECRQFTÇCCHGCTUGNCEQPFWEVCFG
CSWGNNQUSWGGPWUQFGUWUFGTGEJQU
HWPFCOGPVCNGUGLGTEGPUWNGIÇVKOQFG
TGEJQCNCFGHGPUC
0QQDUVCPVGNCTGHQTOCFGNC.58TG
EKGPVGOGPVGCRTQDCFCCRGUCTFGVG
PGTCNIWPQUCURGEVQURQUKVKXQUEQOQ
UQPCSWGNNQUSWGVKGPGPSWGXGTEQPNC
OQFGTPK\CEKÍPFGNC#FOKPKUVTCEKÍPNC
KPEQTRQTCEKÍPFGNQUUKUVGOCUVGNGO»
VKEQU[NCGNKOKPCEKÍPFGNCDWTQETCEKC
FGDKNKVCNCUICTCPVÇCULWTÇFKECUFGNQU
EKWFCFCPQU;NQNCOGPVCOQURQTSWGNC
UGIWTKFCFXKCNPQGUV»TGËKFCEQPNCUG
IWTKFCFLWTÇFKEC'PFGHKPKVKXCGNPWGXQ
RTQEGFKOKGPVQUCPEKQPCFQTGPOCVGTKC
FGVT»HKEQPQEGTECCNKPHTCEVQTEGTECCN
EKWFCFCPQ„
Tribunal Constitucional
7&6DOD6HJXQGD5(GD
3RQHQWH&RQGH0DUWÈQGH+LMDV9LFHQWH
.#.';
&RQVXOWHORVWH[WRVÈQWHJURVHQ
.QSWGUÇUGJCOQFKHKECFQGPNCPWGXC
.58GUGNPÔOGTQFGUWRWGUVQUKPHTCE
VQTGUSWGNNGXCPCRCTGLCFCNCRÃTFKFC
FGRWPVQUFGUGJCPTGFWEKFQC
5KPGODCTIQUQTRTGPFGSWGUGJC[CP
FGLCFQHWGTCFGNUKUVGOCFGVGTOKPCFCU
KPHTCEEKQPGUSWGCPWGUVTQLWKEKQGP
VTCËCPWPITCXGTKGUIQRCTCNCUGIWTK
FCFXKCN#UÇRQTGLGORNQ[CPQFGVTCGP
RWPVQUNCEKTEWNCEKÍPUKPCNWODTCFQ
EQPFWEKTFGHQTOCPGINKIGPVGQRCTCT
QGUVCEKQPCTGPECODKQUFGTCUCPVGQ
EWTXCUFGTGFWEKFCXKUKDKNKFCF
GPGN#PGZQ+8FGNC.G[GUFGFWFQUC
EQPUVKVWEKQPCNKFCFPQUÍNQRQTSWGPQ
FGHKPGEW»NGUUQPNQUVTCOQUFGCEEGUQ
CNCUEKWFCFGUCHGEVCFQU
MO
MOFGNCUEKWFCFGUGVEUKPQRQTSWG
OGFKCPVGNCOQFKHKECEKÍPFGWPCNG[
QTFKPCTKCUGRTGVGPFGCNVGTCTGNEQPVG
PKFQFGWPCNG[QTI»PKEC#UÇGNVGZVQ
TGEQIKFQGPFKEJQEWCFTQFGKPHTCE
EKQPGUCNVGTCGNCTVFGN%ÍFKIQ
2GPCNCNGUVCDNGEGTSWG†'NTGUVQFG
NQUGHGEVQUCFOKPKUVTCVKXQU[RGPCNGU
UÍNQUGRTQFWEKT»EWCPFQUWRGTGPNQU
MOJ[GPNQUVÃTOKPQUGUVCDNGEK
FQURCTCGUVGNÇOKVG•'NNQUWRQPGSWG
OKGPVTCUSWGEQPGNPWGXQVGZVQFGNC
.58GNEQPFWEVQTSWGGPWPVTCOQFG
NCCWVQRKUVC#FGCEEGUQC/CFTKF
NKOKVCFCCMOJRQTQDTCUEKTEWNC
UGCMOJPQEQOGVGTÇCPKPIÔP
FGNKVQRCTCGN%ÍFKIQ2GPCNGPXKIQT
FGUFGJCEGVCPUÍNQFQUCËQUFKEJQ
EQPFWEVQTKPEWTTKTÇCGPWPKNÇEKVQRGPCN
UKUWRGTCUGNQUMOJ
YYYFKCTKQNCNG[GU
;NCNG[VCORQEQCENCTCUKUGRWGFGPFG
VTCGTRWPVQUFGWPRGTOKUQEW[QUCNFQ
UGJCCIQVCFQ[UKGUQURWPVQUPGIC
VKXQUEW[CFGVTCEEKÍPEQTTGURQPFGPC
JGEJQUCPVGTKQTGUUGRWGFGPCRNKECTC
RGTOKUQUQDVGPKFQUEQPRQUVGTKQTKFCF
FGURWÃUFGJCDGTGUVCFQUGKUOGUGUUKP
EQPFWEKT
VTGUGPGNECUQFGRTQHGUKQ
PCNGU[JCDGTUWRGTCFQNCUEQTTGURQP
FKGPVGURTWGDCU
+ORTQEGFGPVGCTEJKXQ
FGFGOCPFCRQTFGURKFQ
RQTPQUWDUCPCTGNKPEWORNKOKGPVQ
FGWPTGSWKUKVQPQRTGXKUVQ
NGICNOGPVG
4'57/'0&'.(#..1
(O7ULEXQDO&RQVWLWXFLRQDOHVWLPDODGHPDQGDGHDPSDURGHFODUDYXOQHUDGRHOGH
UHFKRGHORVWUDEDMDGRUHVDODWXWHODMXGLFLDOHIHFWLYDHQVXYHUWLHQWHGHGHUHFKRGH
DFFHVRDODMXULVGLFFLÍQ\DWDOILQGHFODUDODQXOLGDGGHORVDXWRVGHO-X]JDGRGHOR
6RFLDOQÔPGH$OLFDQWHUHFDÈGRVHQDXWRVGHGHVSLGRRUGHQDQGRODUHSRVLFLÍQGH
DFWXDFLRQHV
&+5215+%+10'5#2.+%#&#5
$UW&(/$/(<DUWV\75/3//$/(<
UWOCTKQ
676'.#,7&+%+#.'('%6+8#t#EEGUQCNCLWTKUFKEEKÍPUQEKCNt8WNPG
TCEKÍPt#TEJKXQFGFGOCPFCRQTFGURKFQt(CNVCFGUWDUCPCEKÍPRQT
RCTVGFGNQUVTCDCLCFQTGUFGNTGSWGTKOKGPVQRQTGNSWGUGNGUGZKIÇC
EWORNKTWPTGSWKUKVQEW[QEQPVGPKFQPQGUV»RTGXKUVQNGICNOGPVG[SWG
CFGO»UGUV»TGNCEKQPCFQEQPNCEWGUVKÍPFGHQPFQ
(QHOFDVRHOÍUJDQRMXGLFLDOVHKDH[WUDOLPLWDGRDOUHTXHULUHOFXPSOLPLHQWR
GHXQUHTXLVLWRQRSUHYLVWROHJDOPHQWHSDUDODVGHPDQGDVSRUGHVSLGR\
DOIXQGDUODGHFLVLÍQGHDUFKLYRHQODGHIHFWXRVDVXEVDQDFLÍQGHGLFKRUH
TXLVLWRKDOHVLRQDGRHOGHUHFKRGHORVGHPDQGDQWHVGHDPSDURDODWXWHOD
MXGLFLDOHIHFWLYDHQVXYHUWLHQWHGHGHUHFKRGHDFFHVRDOSURFHVR'HRWUD
SDUWHHOUHTXLVLWRFX\DVXEVDQDFLÍQKDUHTXHULGRuORVFRQWUDWRVWHPSR
UDOHVHQVXFDVRVXVFULWRVSRUORVWUDEDMDGRUHVFRQODVHPSUHVDVQDWXUDOH]D
\SHUÈRGRVGHGXUDFLÍQuHVW¼UHODFLRQDGRFRQODFXHVWLÍQGHIRQGRGH
EDWLGDHVWRHVHQFRQFUHWRFRQODDQWLJÖHGDGTXHGHEDDWULEXLUVHDFDGD
WUDEDMDGRU\DOSURSLRGHVSLGRDVSHFWRVDPERVTXHUHTXLHUHQHQVXFDVR
HOFRUUHVSRQGLHQWHGHEDWHFRQWUDGLFWRULRHQHOSURFHVR\VXUHVROXFLÍQHQ
ODVHQWHQFLD
FGOCT\QFG
YYYFKCTKQNCNG[GU
3RQHQWH;LRO5ÈRV-XDQ$QWRQLR
.#.';
&RQVXOWHORVWH[WRVÈQWHJURVHQ
766DOD3ULPHUDGHOR&LYLO50QX
YYYFKCTKQNCNG[GU
Tribunal Supremo
&+5215+%+10'5#2.+%#&#5
$UWV\DG&(/$/(<
UWOCTKQ
&'4'%*1#.*1014t+PGZKUVGPEKCFGKPVTQOKUKÍPKNGIÇVKOCt,WG\
SWGHCNVCCNCXGTFCFGPWPCURGEVQFGTGNGXCPEKCRÔDNKECTGNCEKQPCFQ
EQPGNGLGTEKEKQFGNCHWPEKÍPLWFKEKCNt#UWPVQFGKPVGTÃUIGPGTCNt8G
TCEKFCFFGNCKPHQTOCEKÍP
(QHOFDVRGXUDQWHODHPLVLÍQGHXQFRQRFLGRSURJUDPDUDGLRIÍQLFRHOGL
UHFWRUGHOPLVPROODPÍPHQWLURVRDXQMXH]TXHKDEÈDSDUWLFLSDGRHQXQD
WHUWXOLDGHOSURJUDPD\KDEÈDQHJDGRKDEHUHVFULWRHQHOGLDULR(JLQFXDQGR
HQUHDOLGDGVÈORKDEÈDKHFKR)RUPXODGDSRUHOMXH]GHPDQGDGHSURWHFFLÍQ
GHVXGHUHFKRDOKRQRUODPLVPDHVGHVHVWLPDGD/RVKHFKRVREMHWRGHODV
PDQLIHVWDFLRQHVFRQWURYHUWLGDVVRQGHLQWHUÄVJHQHUDO/DDFWXDFLÍQMXGLFLDO
HQUHODFLÍQFRQHOWHUURULVPRFRQVWLWX\HXQDFXHVWLÍQGHUHOHYDQWHLQWHUÄV
SÔEOLFRHQQXHVWUDVRFLHGDG(OFRQWHQLGRE¼VLFRGHODVDILUPDFLRQHVHIHF
WXDGDVSRUHOGLUHFWRUGHOSURJUDPDQRIDOWDDODYHUGDG\QRSXHGHFRQVL
GHUDUVHTXHODH[SUHVLÍQ‡PHQWLURVR–HQVÈPLVPDVHDLQMXULRVDRLQVXOWDQWH
SDUDUHIHULUVHDTXLHQKDEÈDIDOWDGRDODYHUGDGGHPRGRJUDYH/DFRQGLFLÍQ
GHMXH]DGHP¼VGHORVGHEHUHVHVWULFWDPHQWHSURIHVLRQDOHVLPSRQHGHEHUHV
GHFDU¼FWHUÄWLFR)DOWDUDODYHUGDGHQXQDVSHFWRGHUHOHYDQFLDSÔEOLFDTXH
WLHQHUHODFLÍQFRQHOHMHUFLFLRGHODIXQFLÍQMXGLFLDOFRPRHVHOGHODVDFWLYL
GDGHVUHODFLRQDGDVFRQRUJDQL]DFLRQHVLOHJDOL]DGDVSRUDFWRVWHUURULVWDVQR
HVLQGLIHUHQWHGHVGHHOSXQWRGHYLVWDGHODFRQGLFLÍQGHMXH]GHTXLHQLQFXUUH
PARAÍSO FISCAL_
‘…según demostró el fiscal, el lugar elegido para su fuga era un
auténtico paraíso de playas blancas desérticas…’
766DOD3ULPHUDGHOR&LYLO50QX
3RQHQWH0DUÈQ&DVW¼Q)UDQFLVFR
.#.';
&RQVXOWHORVWH[WRVÈQWHJURVHQ
4'57/'0&'.(#..1
/DVVHQWHQFLDVGHLQVWDQFLDHVWLPDURQODGHPDQGDGHLQWURPLVLÍQLOHJÈWLPDHQHOGHUH
FKRDOKRQRUGHOGHPDQGDQWH(O7ULEXQDO6XSUHPRGHFODUDKDEHUOXJDUDORVUHFXUVRV
GHFDVDFLÍQDQXODODVHQWHQFLDGHDSHODFLÍQ\GHVHVWLPDODGHPDQGD
Tribunal Supremo
YYYFKCTKQNCNG[GU
2TQITCOCTCFKQHÍPKEQGPGNSWG
UGNNCO͆OGPVKTQUQ•CWPLWG\
KPGZKUVGPEKCFGXWNPGTCEKÍP
FGNFGTGEJQCNJQPQT
HQGLFKDIDOWDVDOYRTXHORKDJDHQHOWHUUHQRHVWULFWDPHQWHSULYDGRDMHQR
DVXFRQGLFLÍQGHMXH]1RORHVGHVGHOXHJRFXDQGRORKDFHHQHOHMHUFLFLR
GHDFWLYLGDGHVHQODVFXDOHVDXQVLHQGRSULYDGDVQRRFXOWDVXFRQGLFLÍQ
GHMXH]\SHUPLWHTXHVHDWHQLGDHQFXHQWDSDUDYDORUDUVXVRSLQLRQHVSRU
TXLHQHVJXLDGRVSRUHOUHVSHWRTXHPHUHFHODIXQFLÍQMXGLFLDOODVHVFXFKDQ
FRPRPDQLIHVWDFLÍQGHTXLHQHVW¼LQYHVWLGRGHXQDHVSHFLDODXWRULGDGPRUDO
#EEKÍPFKTGEVCFGNUWDEQPVTCVKUVC
EQPVTCGNEQOKVGPVG
RQTNCECPVKFCFSWGÃUVGCFGWFG
CNEQPVTCVKUVC
4'57/'0&'.(#..1
(O-X]JDGRGH3ULPHUD,QVWDQFLDHVWLPÍSDUFLDOPHQWHODGHPDQGDGHUHFODPDFLÍQGH
FDQWLGDGIRUPXODGDSRUHOVHJXQGRVXEFRQWUDWLVWDFRQWUDHOFRQWUDWLVWD\HOSULPHU
VXEFRQWUDWLVWDFRQGHQDQGRDHVWHÔOWLPR/D$3$VWXULDVUHYRFÍHQSDUWHODVHQWHQFLD
DQWHULRUHQFXDQWRFRQGHQÍWDPELÄQDOFRQWUDWLVWD(O7ULEXQDO6XSUHPRGHVHVWLPD
HOUHFXUVRGHFDVDFLÍQ
&+5215+%+10'5#2.+%#&#5
$UWV\&&/$/(<DUWV\&&RP/$
/(<
UWOCTKQ
#44'0&#/+'061&'1$4#t#EEKÍPFKTGEVCFGNUWDEQPVTCVKUVCt
'PVTGICFGRCICTÃURQTGNEQOKVGPVGCNEQPVTCVKUVCSWKGPCUWXG\NQU
GPVTGIÍCDCPEQUCECODKQFGWPCPVKEKRQFGUWKORQTVGt+PENWUKÍPFG
FKEJQURCICTÃUGPNCECPVKFCFCFGWFCFCRQTGNEQOKVGPVGCNEQPVTCVKUVC
$OYHUVDUODDFFLÍQGLUHFWDGHODUW&&VREUHODFDQWLGDGTXHHOFRPL
WHQWHRGXHËRGHODREUDDGHXGHDOFRQWUDWLVWDFXDQGRHOVXEFRQWUDWLVWD
KDFHVXUHFODPDFLÍQHVFODURTXHVHH[FOX\HWRGRORTXHHOFRPLWHQWH
\DQRDGHXGHGHQLQJÔQPRGR(QHVWHVHQWLGRGHEHHQWHQGHUVHTXHOD
Nuestra base de datos, al contrario que otros buscadores, SÍ SABE lo
que busca. Porque laleydigital.es ha creado un nuevo sistema de búsqueda que incluye sinónimos, agrupa términos, salva erratas y hace de
la precisión un hecho.No es que te ofrezcamos este nuevo sistema de
búsqueda, es que somos los únicos que te lo podemos ofrecer.
Expansión semántica – Agrupación semántica – Reconocimiento de erratas
Extracto dinámico – Afinar resultados – Función ‘Quiso usted decir’
Clasificación de resultados – Planteamiento de conceptos complejos
Adaptación y traducción a distintos idiomas.
laleydigital.es
exactamente lo que necesitas.
Solicite una clave demo en www.laleydigital.es
Servicio de Atención al Cliente. Tel.: 902 250 500
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
FGOCT\QFG
YYYFKCTKQNCNG[GU
FDQWLGDGDGHXGDGDSRUHOFRPLWHQWHDOFRQWUDWLVWDFRPSUHQGHQRVÍOROD
UHSUHVHQWDGDSRUORVSDJDUÄVUHFLELGRVGHOFRPLWHQWHDÔQQRYHQFLGRVHQ
SRGHUGHOFRQWUDWLVWDVLQRWDPELÄQODUHSUHVHQWDGDSRUORVTXHHVWHÔOWLPR
KXELHUDHQWUHJDGRDHQWLGDGHVGHFUÄGLWRDFDPELRGHXQDQWLFLSRGHVX
LPSRUWHSHURTXHGDQGRODWHQWHODSRVLELOLGDGGHUHWRUQRDOFRQWUDWLVWDSDUD
TXHÄVWHUHFODPHHOSDJRGHVXLPSRUWHDOFRPLWHQWH(VWHFULWHULRHVHOTXH
PHMRUSHUPLWHFRQMXJDUODSURWHFFLÍQH[FHSFLRQDOGHORVVXEFRQWUDWLVWDV
SRUHODUW&&FRQHODUWGHOPLVPR&ÍGLJR\FRQHOUÄJLPHQ
GHODFHVLÍQGHFUÄGLWRVGHORVDUWV\&&RP\D&&
SXHVVLHQFXDOTXLHUFDVRGHSDJRGHOFRPLWHQWHDOFRQWUDWLVWDPHGLDQWH
OHWUDVRSDJDUÄV\VXEVLJXLHQWHDQWLFLSRGHVXLPSRUWHDOFRQWUDWLVWDSRU
HQWLGDGHVGHFUÄGLWRVHHQWHQGLHUDTXHHOFRPLWHQWH\DQRDGHXGDQDGDDO
FRQWUDWLVWDVLQRDODVHQWLGDGHVUHFHSWRUDVGHORVHIHFWRVHQWRQFHVODSUR
WHFFLÍQGHOVXEFRQWUDWLVWDSRUHODUW&&VHUÈDLOXVRULDHQODPD\RUÈD
GHORVFDVRV\VREUHWRGRVHVRPHWHUÈDDOVXEFRQWUDWLVWDDODVXHUWHGHRWUR
FRQWUDWRDOTXHIXHWRWDOPHQWHDMHQRHOFHOHEUDGRHQWUHHOFRQWUDWLVWD\ODV
HQWLGDGHVEDQFDULDVSXGLHQGRVÍORUHFXSHUDUGHXQPRGRSRFRH[SOLFDEOH
MXUÈGLFDPHQWHHQFDVRGHGHYROXFLÍQGHORVHIHFWRVSRUHOEDQFRDOFRQ
WUDWLVWDWUDVVXLPSDJRSRUHOFRPLWHQWHXQDDFFLÍQTXHHQSXULGDG\DVH
KDEUÈDH[WLQJXLGRDQWHULRUPHQWHHQHOPRPHQWRGHHQWUHJDGHORVHIHFWRV
DOEDQFRFRQDQWLFLSRGHVXLPSRUWH
FHDËRVGHVQXGDVRUHDOL]DQGRDFWRVGHFRQWHQLGRVH[XDO(OUHFXUUHQWH
DOHJDTXHQRVHKDDFUHGLWDGRVXSDUWLFLSDFLÍQHQVXSURGXFFLÍQRTXH
ODVSRVH\HUDFRQILQHVGHGLIXVLÍQSXGLHQGRSHUIHFWDPHQWHSHUWHQHFHUDO
PDWHULDOTXHKDEÈDGHVFDUJDGRSDUDVXSURSLRXVR/RVDFWRVGHGLYXOJDFLÍQ
UHTXLHUHQHOGRORGHDFWXDUFRQWDOILQDOLGDGGHGXFLGRGHFXDOTXLHUFLUFXQV
WDQFLDSHURHVSHFLDOPHQWHHQODLQWHUYHQFLÍQGHODXWRUHQVXFRQIHFFLÍQ\
HQODSXHVWDHQPDUFKDGHDFWLYLGDGHVHVSHFÈILFDPHQWHHQFDPLQDGDVDVX
GLIXVLÍQWHQLHQGRHQFXHQWDHOJUDGRGHFRQRFLPLHQWRVLQIRUP¼WLFRVGHO
DXWRU<DMXLFLRGHHVWD6DODQRH[LVWHQDFWRVFRQVFLHQWHVGHGLYXOJDFLÍQ
SRUFXDQWRODVLP¼JHQHVHVWDEDQHQODSDSHOHUDGHUHFLFODMHGHORUGHQDGRU
uKDEÈDQVLGRHOLPLQDGDVu\QRVHGLVSRQÈDGHSURJUDPDVFRPR‡HPXOH–R
‡HGRQNH\–TXHSXGLHUDQDEULUHOVLVWHPDDVHUFRPSDUWLGRVFRQWHUFHURVOR
TXHFRQILUPDODWHVLVGHODPHUDSRVHVLÍQ/D$XGLHQFLDWLHQHUD]ÍQFXDQGR
DILUPDTXHWLHQHDUFKLYRVGHFKLFDVFX\DDSDULHQFLDGHQRWDEDWHQHUXQD
HGDGPHQRUGHWUHFHDËRVSHURGDGRTXHQXQFDVHXWLOL]DURQQLVHSXVLHURQ
HQFRQGLFLRQHVGHVHUFRPSDUWLGRVVHHVW¼DQWHXQVXSXHVWRGHWHQHQFLD
SDUDXVRSURSLR
.#.';
2QUGUKÍPFGOCVGTKCN
RQTPQIT»HKEQEQPOGPQTGU
FGVTGEGCËQUSWGKPVGITC
GNVKRQFGVGPGPEKC
RCTCWUQRTQRKQRWGUPQGUV»
GPFKURQUKEKÍPFGUGTEQORCTVKFQ
4'57/'0&'.(#..1
(O7ULEXQDO6XSUHPRUHYRFDSDUFLDOPHQWHODVHQWHQFLDGHOD$XGLHQFLD3URYLQFLDOGH
%DUFHORQDTXHFRQGHQÍSRUXQGHOLWRGHGLIXVLÍQGHSRUQRJUDIÈDLQIDQWLODJUDYDGD
SRUXWLOL]DFLÍQGHPHQRUHVGHWUHFHDËRV\XQGHOLWRGHFRDFFLRQHVFRQDWHQXDQWHGH
UHSDUDFLÍQGHOGDËRSDUDDSUHFLDUXQGHOLWRE¼VLFRGHGLIXVLÍQGHPDWHULDOSRUQR
JU¼ILFR\XQGHOLWRGHWHQHQFLDSDUDXVRSURSLR &+5215+%+10'5#2.+%#&#5
$UW&3/$/(<
UWOCTKQ
&+(75+­0&'21401)4#(§#+0(#06+.t2QUGUKÍPFGCTEJKXQUEQP
XÇEVKOCUFGGFCFPQVQTKCOGPVGKPHGTKQTCNQUVTGEGCËQUSWGPQRGTOK
VGCRTGEKCTGNUWDVKRQCITCXCFQFGNCTVÇEWNQD%2t0QEQPUVC
KPVGTXGPEKÍPGPUWGNCDQTCEKÍPPKNCRWGUVCGPOCTEJCFGCEVKXKFCFGU
VGPFGPVGUCUWFKXWNICEKÍP
/DVHQWHQFLDGHLQVWDQFLDDSUHFLDODPRGDOLGDGDJUDYDGDGHGLIXVLÍQGH
SRUQRJUDIÈDFRQXWLOL]DFLÍQGHPHQRUHVuDUW&3uSXHVHO
DFXVDGRJXDUGDEDHQVXRUGHQDGRULP¼JHQHVREWHQLGDVGH,QWHUQHWHQOD
TXHDSDUHFÈDQDOJXQDVPHQRUHVGHHGDGQRWRULDPHQWHLQIHULRUDORVWUH
76-&06DODGHOR6RFLDO51EV
3RQHQWH5HQWHUR-RYHU-HVÔV
.#.';
&RQVXOWHORVWH[WRVÈQWHJURVHQ
3RQHQWH0DUWÈQ3DOOÈQ-RVÄ$QWRQLR
&RQVXOWHORVWH[WRVÈQWHJURVHQ
766DOD6HJXQGDGHOR3HQDO50QX
YYYFKCTKQNCNG[GU
Tribunal Supremo
YYYFKCTKQNCNG[GU
Tribunal Superior de Justicia
de Castilla-La Mancha
#PWNCEKÍPFGCWVQFGN,W\ICFQ
FGNQ/GTECPVKNSWGCWVQTK\CDC
FGURKFQEQNGEVKXQFGGORTGUC
EQPEWTUCFCRQTHCNVCTGNKPHQTOG
RTGXKQFGNQUCFOKPKUVTCFQTGU
EQPEWTUCNGU
4'57/'0&'.(#..1
(O76-GH&DVWLOOD/D0DQFKDUHYRFDHO$XWRGHO-X]JDGRGHOR0HUFDQWLOQÔPGH
&XHQFDSRUHOTXHVHDXWRUL]DEDODH[WLQFLÍQGHORVFRQWUDWRVGHWUDEDMRGHXQWRWDO
GHWUDEDMDGRUHVGHODHPSUHVDFRQFXUVDGD
&+5215+%+10'5#2.+%#&#5
$UWV\/GH-XOFRQFXUVDO/$/(<DUW
/&/$/(<
UWOCTKQ
&'52+&1%1.'%6+81t241%'&+/+'061%10%745#.t+PEWORNK
OKGPVQFGNCQDNKICEKÍPFGRTGUGPVCEKÍPRTGXKCFGKPHQTOGRQTNQUCF
OKPKUVTCFQTGUEQPEWTUCNGUt'ZVKPEKÍPEQPVTCEVWCNSWGPQCETGFKVCNC
XKCDKNKFCFFGNCGORTGUC
5HVXOWDFLHUWRTXHHQHODUW/&VHSHUPLWHODSRVLELOLGDGGHDGRSWDUODV
PHGLGDVUHIHULGDVHQHOSURFHGLPLHQWRFRQFXUVDODODPRGLILFDFLÍQVXVWDQ
FLDOGHFRQGLFLRQHVGHWUDEDMRDODH[WLQFLÍQRDODVXVSHQVLÍQFROHFWLYDV
GHORVFRQWUDWRVGHWUDEDMRHQTXHVHDHPSOHDGRUHOFRQFXUVDGRSHURHOOR
VRODPHQWHXQDYH]HPLWLGRSRUODDGPLQLVWUDFLÍQFRQFXUVDOHOLQIRUPHTXH
GHEHFRQWHQHUXQDQ¼OLVLVGHORVGDWRV\FLUFXQVWDQFLDVGHOGHXGRUHOHVWDGR
GHODFRQWDELOLGDGGHOPLVPR\XQDPHPRULDGHODVSULQFLSDOHVGHFLVLRQHV\
DFWXDFLRQHVGHODDGPLQLVWUDFLÍQFRQFXUVDO3HURÄVWHQRVHKDEÈDSUHVHQWDGR
FXDQGRVHVROLFLWÍODDXWRUL]DFLÍQMXGLFLDOH[WLQWLYD6LHVYHUGDGTXHHOPHQ
FGOCT\QFG
YYYFKCTKQNCNG[GU
FLRQDGRDUWÈFXORH[FHSFLRQDGHODREOLJDFLÍQGHSUHVHQWDFLÍQSUHYLDGHGLFKR
LQIRUPHFXDQGRODGHPRUDHQODDSOLFDFLÍQGHODVPHGLGDVFROHFWLYDVSUHWHQ
GLGDVSXHGDFRPSURPHWHUJUDYHPHQWHODYLDELOLGDGGHODHPSUHVD/XHJR
HQHVHVXSXHVWRSRGU¼UHDOL]DUVHODSHWLFLÍQDOMXH]HQFXDOTXLHUPRPHQWR
SURFHVDOGHVGHODSUHVHQWDFLÍQGHODVROLFLWXGGHGHFODUDFLÍQGHFRQFXUVR
VLHPSUHTXHORDFUHGLWH3XHVELHQHQHOSUHVHQWHFDVRQRVHGHGXFHTXHWDO
PHGLGDFRQGX]FDDYLDELOLGDGDOJXQDGHODHPSUHVDKDFLDHOIXWXURSXHVHO
FHQWURTXHVHPDQWLHQHQROOHYDDSDUHMDGRHOPDQWHQLPLHQWRGHODSODQWDGH
SURGXFFLÍQVLQRÔQLFDPHQWHODYHQWDGHORDQWHULRUPHQWHSURGXFLGRQLSRU
HQGHODH[WLQFLÍQFRQWUDFWXDOVROLFLWDGDDIHFWDHQQDGDDODYLDELOLGDGGHOD
HPSUHVDRDOPHQRVQRHVXQDFLUFXQVWDQFLDTXHFRQVWHDFUHGLWDGDTXHSRU
ORWDQWRQRFDEHSUHVXPLU
3RQHQWH$EHOOHLUD5RGUÈJXH]0DUÈD
&RQVXOWHORVWH[WRVÈQWHJURVHQ
76-&6DODGHOR&RQWHQFLRVRDGPLQLVWUDWLYR
6HFF50QX
YYYFKCTKQNCNG[GU
Tribunal Superior de Justicia
de Cataluña
.#.';
(CNNGEKOKGPVQFGRCEKGPVG
KPVGTXGPKFCRCTCKORNCPVCEKÍP
FGRTÍVGUKUFGTQFKNNCSWGPQHWG
KPHQTOCFCFGDKFCOGPVG
UQDTGNCPGEGUCTKC
CFOKPKUVTCEKÍPFGJGRCTKPC
VTCUGNCNVCJQURKVCNCTKC
4'57/'0&'.(#..1
(O76-&DWDOXËDHVWLPDHOUHFXUVRFRQWHQFLRVRDGPLQLVWUDWLYRLQWHUSXHVWRFRQWUD
GHVHVWLPDFLÍQSUHVXQWDGHO,QVWLWXWR&DWDO¼QGHOD6DOXGGHUHFODPDFLÍQGHUHVSRQ
CARGA DE LA PRUEBA_
‘…no hay prueba de la relación causal entre el desprendimiento
de la carga de la grúa y el daño ocasionado…’
VDELOLGDGSDWULPRQLDOSRUDQRUPDOIXQFLRQDPLHQWRGHORVVHUYLFLRVSÔEOLFRVPÄGLFR
KRVSLWDODULRVUHFRQRFLHQGRHOGHUHFKRGHOUHFXUUHQWHDODSHUFHSFLÍQGHORVGDËRV\
SHUMXLFLRVVXIULGRVSRUHOIDOOHFLPLHQWRGHVXHVSRVD
&+5215+%+10'5#2.+%#&#5
/GH1RYDXWRQRPÈDGHOSDFLHQWH\GHUHFKRV\REOLJDFLRQHVHQPDWHULD
GHLQIRUPDFLÍQ\GRFXPHQWDFLÍQFOÈQLFD553$3$UW&(/$/(<
DUW/5-$33$&/$/(<DUWV\/GH'LF&$&DWDOXËD
GHUHFKRVGHLQIRUPDFLÍQFRQFHUQLHQWHDODVDOXG\ODDXWRQRPÈDGHOSDFLHQWH\DOD
GRFXPHQWDFLÍQFOÈQLFD/$/(<
UWOCTKQ
4'52105#$+.+&#&&'.#5#&/+0+564#%+10'52´$.+%#5t#UKU
VGPEKCUCPKVCTKCt4GURQPUCDKNKFCFFGNC#FOKPKUVTCEKÍPRQTHCNNG
EKOKGPVQFGRCEKGPVGSWGPQHWGFGDKFCOGPVGKPHQTOCFCFGNVTC
VCOKGPVQCUGIWKTVTCUGNCNVCJQURKVCNCTKCt'NRGTUQPCNHCEWNVCVKXQ
[CUKUVGPEKCNFGDGFGVGEVCTUKNCKPHQTOCEKÍPSWGUGFCNNGICCNRC
EKGPVG[UWGPVQTPQCPKXGNGUÍRVKOQUFGGPVGPFKOKGPVQ[TGURQP
UCDKNKFCF
(QHOSUHVHQWHFDVRuGHUHFODPDFLÍQGHUHVSRQVDELOLGDGSDWULPRQLDOD
OD$GPLQLVWUDFLÍQVDQLWDULDSRUIDOOHFLPLHQWRGHXQDSDFLHQWHDODTXH
QRVHOHLQIRUPÍVREUHODQHFHVLGDGGHDGPLQLVWUDUVHKHSDULQDDQWLFRD
JXODQWHWUDVXQDLQWHUYHQFLÍQTXLUÔUJLFDGHLPSODQWDFLÍQGHSUÍWHVLVGH
URGLOODQLODVLQVWUXFFLRQHVSDUDVXDGPLQLVWUDFLÍQuVHYHQWLODXQVX
SXHVWRGHGHVFRRUGLQDFLÍQGHPHGLRVTXHLPSLGHQTXHSXHGDVHUHIHFWL
YRHOGHUHFKRDODLQIRUPDFLÍQHQWRGRHOSURFHVRDVLVWHQFLDOPÄGLFRGH
FX¼OHVODVLWXDFLÍQFRQFUHWDUHODWLYDDODVDOXGGHOSDFLHQWHHQFXHVWLÍQ
\VXHQWRUQRP¼VLQPHGLDWR(VWDLQIRUPDFLÍQFRQVWDQWHFRPSOHWD\
GXUDQWHWRGRHOLWHUQRSXHGHHVFXGDUVHHQODH[LVWHQFLDGHGLIHUHQWHV
HWDSDVGHOSURFHVRPÄGLFRRHQDWHQFLÍQDORTXHGHEHUÈDVHU‡QRUPDO–
FRPSUHQGHUHQXQHVW¼QGDUPÄGLR(OSHUVRQDOIDFXOWDWLYR\DVLVWHQFLDO
GHEHGHWHFWDUVLHVDLQIRUPDFLÍQTXHVHGDOOHJDDOUHFHSWRU\VXHQWRU
QRHQQLYHOHVÍSWLPRVGHHQWHQGLPLHQWR\UHVSRQVDELOLGDG(VHYLGHQWH
TXHIDOOÍHOVLVWHPDDVLVWHQFLDOHQHVWHSXQWRLPSLGLHQGRDOHQIHUPR
FRQRFHU\DVXPLUODUHVSRQVDELOLGDGGHOWUDWDPLHQWRPHGLFRTXHGHEÈD
DVXPLUSRURWUDSDUWHQRI¼FLOSXHVWRTXHVXPLQLVWUDUKHSDULQDQRHV
FRPRWRPDUXQDSDVWLOODVLQRTXHUHTXLHUHXQDFRPSOHWDFRPSUHQVLÍQ
GHORTXHVLJQLILFDLQ\HFWDUVHODPHGLFDFLÍQGHIRUPDVXEFXW¼QHD(V
OD$GPLQLVWUDFLÍQTXLHQGHELHUDKDEHUDFUHGLWDGRODSUHVWDFLÍQGHXQD
LQIRUPDFLÍQFRPSOHWDDGDSWDGDDODVLWXDFLÍQGHORVLQWHUORFXWRUHV
LQFOXVRLQFLGLHQGRHQVLODPLVPDOOHJDEDDVHUHIHFWLYDPHQWHFRPSUHQ
GLGD\YDORUDGDVXUHOHYDQFLDFRQUHVSHFWRDODHYROXFLÍQIXWXUDGHOD
HQIHUPHGDG■
Nuestra base de datos, al contrario que otros buscadores, SÍ SABE lo
que busca. Porque laleydigital.es ha creado un nuevo sistema de
búsqueda que incluye sinónimos, agrupa términos, salva erratas y hace
de la precisión un hecho.No es que te ofrezcamos este nuevo sistema
de búsqueda, es que somos los únicos que te lo podemos ofrecer.
Expansión semántica – Agrupación semántica – Reconocimiento de erratas
Extracto dinámico – Afinar resultados – Función ‘Quiso usted decir’
Clasificación de resultados – Planteamiento de conceptos complejos
Adaptación y traducción a distintos idiomas.
laleydigital.es
exactamente lo que necesitas.
Solicite una clave demo
en www.laleydigital.es
Servicio de Atención al Cliente. Tel.: 902 250 500
.QUVGZVQUEQORNGVQUFGNQUFQEWOGPVQUGZVTCEVCFQUGUV»PFKURQPKDNGUGPYYYFKCTKQNCNG[GU
FGOCT\QFG
YYYFKCTKQNCNG[GU
TKPEÍP
'(/(&785$
.#.';
'HUHFKRSULYDGR\JHVWLÎQXUEDQÈVWLFD$VSHFWRVVXVWDQWLYRV
\UHJLVWUDOHV
#WVQT%CTQNKPCFGN%CTOGP%#56+..1/#46§0'<
'FKVQTKCN.#.';ITWRQ9QNVGTU-NWYGT
%QNGEEKÍP6GOCU.#.';
2»IU
0
QGUH»EKNCWPCTWPVGOCFG&GTGEJQRTKXCFQ[WPVGOCFGWTDCPKUOQKPOGTUQGPGN&GTGEJQCFOKPKUVTCVKXQ;
NCFKHKEWNVCFUGCETGEKGPVCEWCPFQUGRGPGVTCGPGNECORQFGN&GTGEJQJKRQVGECTKQUHFWLXV&GTGEJQKPOQDKNKCTKQ
TGIKUVTCN'NNQGUUWRGTCFQRQTNCCWVQTCCETGFKVCFCLWTKUVCSWGWPGGPUWJCDGTNCHWPEKÍPFQEGPVGGKPXGUVKICFQTC
EQOQ2TQHGUQTCFG&GTGEJQEKXKNGPNC7PKXGTUKFCFFG8CNGPEKC[CWVQTCFGKPPWOGTCDNGURWDNKECEKQPGU[NCHWPEKÍPLWFKEKCN
[RT»EVKECEQOQOCIKUVTCFC
%QOQFKEGGNNCOKUOCGPUWKPVTQFWEEKÍPGNFGUGPXQNXKOKGPVQFGNCIGUVKÍPWTDCPÇUVKECCNECP\CCUKVWCEKQPGU[TGNCEKQPGULWTÇFKECUFGN&GTGEJQEKXKNIGPGTCPFQ
WPC\QPCFGKPVGTUGEEKÍPGPNCSWGGNEKXKNKUVCCRGPCUUGJCCUQOCFQ.CQDTCUKIWGFKEKGPFQNCCWVQTCPCEGEQPNCRTGVGPUKÍPFGEWDTKTGUVCECTGPEKC[RTQRQTEKQPCT
WPGPHQSWGUKUVGOCVK\CFQFGNCQTFGPCEKÍPVGTTKVQTKCNWTDCPCFGUFGGNRWPVQFGXKUVCFGN&GTGEJQEKXKN
.CQDTCUGFKXKFGGPFQURCTVGUEQOQUGKPFKECFGUFGUWRTQRKQUWDVÇVWNQ.CRTKOGTCCURGEVQUUWUVCPVKXQUNCUGIWPFCCURGEVQUTGIKUVTCNGU
.CRTKOGTCRCTVGEQOKGP\CVTCVCPFQFGNCKPEKFGPEKCFGNCPQTOCVKXCWTDCPÇUVKEC[FGNRNCPGCOKGPVQGPNCFGVGTOKPCEKÍPFGNEQPVGPKFQFGNCRTQRKGFCFFGNUWGNQ
[NCFGHGPUCFGNFGTGEJQFGRTQRKGFCFKPOQDKNKCTKCFGUVCECPFQFGUFGNCRTKOGTCNÇPGCNCHWPEKÍPUQEKCNSWGNC%QPUVKVWEKÍP'URCËQNCCVTKDW[GCNCRTQRKGFCF
'UVWFKCEQPFGVCNNGGNGUVCVWVQLWTÇFKEQFGNRTQRKGVCTKQKPOQDKNKCTKQGPGN4GCN&GETGVQNGIKUNCVKXQFGFGLWPKQRQTGNSWGUGCRTWGDCGN6GZVQ4GHWPFKFQ
FGNC.G[FGN5WGNQ#EQPVKPWCEKÍPJCEGWPCEQPUKFGTCEKÍPGURGEKCNTGHKTKÃPFQUGCNCFGHGPUCFGNFGTGEJQFGRTQRKGFCFKPOQDKNKCTKCFGNCCEEKÍPFGNCTVÇEWNQ
FGFKEJQ4GCN&GETGVQCPVGNQU6TKDWPCNGUQTFKPCTKQURQUKDKNKFCFCNVGTPCVKXCFGCEVWCEKÍPDKGPGPGN»ODKVQFGN&GTGEJQ2TKXCFQQGPGNFGN2ÔDNKEQRCTCQDVGPGT
WPOKUOQTGUWNVCFQGPVQFQECUQFGUVCECSWGPWPECNCUCEVWCEKQPGUWTDCPÇUVKECURWGFGPNKOKVCTGNFGTGEJQFGRTQRKGFCF
7PUGIWPFQ[GZVGPUQECRÇVWNQFGGUVCRTKOGTCRCTVGNNGXCRQTVÇVWNQ†&GUCTTQNNQWTDCPÇUVKEQEQPVTCVCEKÍPRTKXCFC[VGTEGTQUCFSWKTGPVGUEWGUVKQPGUGUEQIKFCU•
%QOKGP\CVTCVCPFQNCUCEVWCEKQPGUO»UHTGEWGPVGUSWGGPGN»ODKVQFGFGUCTTQNNQWTDCPÇUVKEQRNCPVGCPGURGEÇHKEQURTQDNGOCULWTÇFKEQUGPVTGNCURCTVGUEQPVTC
VCPVGUFGWPCTGNCEKÍPRTKXCFC5QPNCCNVGTCEKÍPFGNCUEQPFKEKQPGUWTDCPÇUVKECUFGNQUKPOWGDNGU[UWKPEKFGPEKCGPNCEQPVTCVCEKÍPGPVTGRCTVKEWNCTGUNCQDTC
RÔDNKEC[NCQDTCRTKXCFCUWPQTOCVKXCLWTKUFKEEKÍPKPHNWGPEKCFGNCTGIWNCEKÍPEKXKNCVTKDWEKÍPEQPUVKVWEKQPCNFGEQORGVGPEKCU[NGIKUNCEKÍPEKXKNCWVQPÍOKEC
GPOCVGTKCFGEQPUVTWEEKÍP[XKXKGPFCNCTGURQPUCDKNKFCFFGEGPCNFGNCTVÇEWNQFGN%ÍFKIQ%KXKN[NC.G[FG1TFGPCEKÍPFGNC'FKHKECEKÍPNCTGURQPUCDKNKFCF
QDLGVKXCFGNEQPUVTWEVQT[FGNRTQOQVQTRTQHGUKQPCNGURQTNQUFCËQUECWUCFQURQTFGHGEVQUGPNCXKXKGPFCRTQDNGO»VKECGURGEÇHKECFGNCEQORTCXGPVCFGXKXKGPFCU
GPEQPUVTWEEKÍP.G[FGLWNKQ#ECDCGUVGUGIWPFQECRÇVWNQFGNCRTKOGTCRCTVGCPCNK\CPFQNCUKVWCEKÍPFGNQUVGTEGTQUCPVGGNFGUCTTQNNQWTDCPÇUVKEQ
.CUGIWPFCRCTVGEQOQUGJCCRWPVCFQVTCVCFGNQUCURGEVQUTGIKUVTCNGU[EQPVKGPGVTGUECRÇVWNQU'NRTKOGTQFGGNNQUJCEGWPCEQPUKFGTCEKÍPIGPGTCNUQDTG
WTDCPKUOQ[4GIKUVTQFGNC2TQRKGFCFFQPFGFGUVCECSWGNCXKPEWNCEKÍP[TGNCEKQPGUGPVTGNCUCEVWCEKQPGUWTDCPÇUVKECU[GN4GIKUVTQFGNC2TQRKGFCFEQPUVKVW[GP
WPKORQTVCPVGOCVGTKCEQPTGRGTEWUKQPGUGPGN»ODKVQRÔDNKEQ[GPGNFGNCUTGNCEKQPGUGPVTGRCTVKEWNCTGU[VCODKÃPGPVTGÃUVQU[NC#FOKPKUVTCEKÍPGN4GIKUVTQ
FGNC2TQRKGFCFGUWPKORTGUEKPFKDNGKPUVTWOGPVQCNUGTXKEKQFGNC#FOKPKUVTCEKÍPGPGNFGUCTTQNNQFGUWCEVKXKFCFFGRNCPGCOKGPVQ[EQPVTQNWTDCPÇUVKEQUCGNNQ
EQPVTKDW[GGHKEC\OGPVGGPGN4GCN&GETGVQFGFGLWNKQ
'NUGIWPFQFGNQUECRÇVWNQUFGGUVCUGIWPFCRCTVGOW[GZVGPUQGUVWFKCEQPFGVCNNGNQUCEVQUKPUETKDKDNGUEQPGURGEKCNEQPUKFGTCEKÍPFGNCEQPUVCPEKCTGIKUVTCNFGN
GZRGFKGPVGFGGSWKFKUVTKDWEKÍP;GPGNVGTEGTQUGCPCNK\CPNQUUWRWGUVQUGURGEKCNGUFGVTCOKVCEKÍP[CFLWFKECEKÍPFGHKPECUGPNCTGRCTEGNCEKÍP[NCRTQDNGO»VKEC
TGNCVKXCCNCUHKPECU[CRTQXGEJCOKGPVQUFGQTKIGPEQOQUQPNCKPOCVTKEWNCEKÍPFGNCUHKPECUFGQTKIGPUWTGCPWFCEKÍPFGNVTCEVQUWEGUKXQUWRWGUVQUFGFQDNG
OCVTKEWNCEKÍPGNUWRWGUVQFGHKPECUFGVKVWNCTKFCFFGUEQPQEKFCQEQPVTQXGTVKFCQNKOKVCFC[RQTÔNVKOQGNUWRWGUVQGURGEKCNFGNCUHKPECUGFKHKECFCU
#ECDCNCQDTCEQPWPCTGNCEKÍPFGDKDNKQITCHÇCOW[EQORNGVC'PFGHKPKVKXCGUWPCQDTCOW[VTCDCLCFC[OW[DKGPGZRWGUVCOW[ÔVKNRCTCGNGUVWFKQUQ[OW[
RT»EVKECRCTCGNGLGTEKEKQFGN&GTGEJQ.CCWVQTCEWORNGUQDTCFCOGPVGNCRTGVGPUKÍPSWGCPWPEKCGPUWKPVTQFWEEKÍPEWDTGNCECTGPEKCSWGUGQDUGTXCGPGNGUVWFKQ
FGNCTGNCEKÍPFGN&GTGEJQRTKXCFQ[FGN&GTGEJQRÔDNKEQUQDTGNCCEVKXKFCFWTDCPÇUVKEC[RTQRQTEKQPCWPGPHQSWGUKUVGOCVK\CFQFGNQUCUWPVQUSWGUWTIGPGPGN
FGUCTTQNNQFGNCUCEVWCEKQPGUVGPFGPVGUCNCQTFGPCEKÍPVGTTKVQTKCNWTDCPC„
:CXKGT1o%#..#)*#0
0DJLVWUDGRGHO7ULEXQDO6XSUHPR&DWHGU¼WLFRGH'HUHFKRFLYLO
27$.+%+&#&
0GTGC$CUEQPGU&ÇG\
%%QNNCFQ/GFKCPQ.CU4Q\CU
/CFTKF
6GN'ZV
GOCKNPDCUEQPGU"NCNG[YMGGU
5'48+%+1&'#6'0%+­0#.%.+'06'
6GN(CZ
GOCKNENKGPVGU"NCNG[GU
4'&#%%+­0%QNNCFQ/GFKCPQ.CU4Q\CU
/CFTKF
6GNGOCKN FKCTKQNCNG["NCNG[GU
,'('&'27$.+%#%+10'5 /GTEGFGU4G[)CTEÇC
%114&+0#&14# /…5QEQTTQ2ÃTG\4CNGTQ
'37+21&'4'&#%%+­0 /…,QUÃ*KGTTQ4QOGTQ$GNÃP#TTCP\(GTP»PFG\
;QNCPFC$CNNGUVGTQU)CTEÇC#UGPLQ%TKUVKPCFG#PFTÃU[FG+TC\C\»DCN
2KNCT/WËQ\/GPFQ)GOOC$TWPQ)CTEÇC5QPUQNGU0CXCTTQ5CNXCFQT
#0›.+5+5&'.#&1%7/'06#%+­0 %GPVTQFG#P»NKUKU&QEWOGPVCN.#.';
&+5'«1)4›(+%1 (TCP8K\WGVG)QP\»NG\
'37+21 &' &'5#441..1 ,WCP ,QUÃ )CTEÇC .Q\CPQ 0KGXGU )CTEÇC %TW\
(GTPCPFQ)QP\»NG\5GTTCPQ$GCVTK\2ÃTG\1NNGTQU#TKCU%CTNQU4WK\%CRKNNCU'UVG
HCPÇC/GFKPC)CTEÇC'UVJGT/QPVGTQ)CTEÇC'OÃTKVC%GTTQ&WT»P›NXCTQ)QP\»NG\
)ÍOG\1NIC.ÍRG\;GRGU,CXKGT&QECUCT,QUÃ/GFKPC)CTEÇC4COÍP<CRCVC,WNKº
241&7%%+­0)4›(+%#'XC#TTQ[Q(TCK\5KNXKC/WNGV2CTÇU/…#PVQPKC%CUVG
FQ%QVTKPC)NQTKC.Q\CPQ5GTTCFKNNC&KCPC/Q[C4QFTÇIWG\.CWTC7UGTC/CEÇCU
+/24'06#)TGHQN5.2QNÇIQPQ.C(WGPUCPVC/ÍUVQNGU
/CFTKF
…:2/7(56./8:(5(63$¬$6$7RGRVORVGHUHFKRVUHVHU
YDGRV(OFRQWHQLGRGHHVWDSXEOLFDFLÎQQRSRGU¼XWLOL]DUVHFRQ
ILQHVFRPHUFLDOHVVLQVXH[SUHVDDXWRUL]DFLÎQLQFOX\HQGRUHSUR
GXFFLÎQPRGLILFDFLÎQRFXDOTXLHURWUDXWLOL]DFLÎQWRWDORSDUFLDO
HQFXDOTXLHUPRGRPHGLRRIRUPDWR
(OWH[WRGHODVUHVROXFLRQHVMXGLFLDOHVFRQWHQLGRHQHVWDSXEOLFD
FLÎQHVVXPLQLVWUDGRSRUHO&HQWURGH'RFXPHQWDFLÎQ-XGLFLDOGHO
&RQVHMR*HQHUDOGHO3RGHU-XGLFLDO
3XEOLFDFLÎQDGKHULGDDOD$VRFLDFLÎQGH3UHQVD3URIHVLRQDO$33
:2/7(56./8:(5(63$¬$6$QRVHLGHQWLILFDQHFHVDULDPHQWH
FRQODVRSLQLRQHV\FULWHULRVYHUWLGRVHQORVWUDEDMRVSXEOLFDGRV
,661
'/%,