Transactions with Related Parties
The Company adopted a Procedure for Transactions with Related Parties (TRP Procedure), whose updated version was approved by the Board of Directors held on May 11, 2021. The TRP Procedure sets out the principles to be followed by the Company to ensure that the transactions carried out with related parties are transparent and materially correct.
Any transfer of services, resources and obligations between related parties will be Transactions with Related Parties (TRP), regardless of whether any consideration is agreed or not.
The concept of ‘Related Party’ included in the TRP Procedure reflects that under the Consob Regulation, which in turn is inspired by IAS 24.
The Company has adopted a Regulation for managing privileged information internally and for disclosing such information outside the Company. This to ensure compliance with the confidentiality obligations under applicable law provisions, to monitor both the access to and the spreading of the information which is or could become privileged information and to ensure that it is disclosed to the public following transparency, timeliness and non-selective criteria, in compliance with the law and regulatory provisions in force.
The Company has also adopted a procedure for keeping and updating the list of the persons who have permanent or occasional access to privileged information on the Company, given their job or profession, or the duties fulfilled on behalf of the Company or of any subsidiaries.