Chairman of the Committee: Vittorio Pignatti Morano
The Committee is comprised of four Directors, all of whom are not executive and independent pursuant.
The Committee, instituted pursuant to the Regulations for transactions with related parties approved on 27 June 2012 and most recently revised on 24 June 2021:
- Expresses opinions in advance on the adoption of, and possible amendments to, the Regulations;
- Is informed of the state of progress in negotiations, and is involved in the processing of, the most significant transactions with related parties, by receiving thorough and prompt reporting on them with the right to request further information and make comments;
- Expresses reasoned opinions (binding only in respect of the largest transactions) on the Bank’s interest in executing the transaction with related parties and the convenience and substantial correctness of the financial terms, including with the help of independent experts.
The Statutory Audit Committee also takes part in meetings of the Related Parties Committee, as do the Group Chief Financial Officer, the head of the “Internal Division Responsible” instituted under the Regulations for transactions with related parties and their associates, other staff and Group representatives depending on the items on the agenda.
A breakdown by gender and age bracket:
The Committee met 5 times in the year ended 30 June 2022.