Directors’ interests and related-party transactions

During 2013, following approval by the Risk Management and Internal Control Committee (composed solely of independent Directors) and the Corporate Financial Reporting Officer, the Board of Directors approved the updating of the ‘Procedure for Transactions with Associated parties’ (definition which, as per the Bank of Italy’s provisions, includes related parties and the parties connected to these).

The ‘Procedure’, which describes the criteria for identifying transactions that must be approved by the Board after receiving the opinion (or after involvement) of the Risk Management and Internal Control Committee, is available on the Website www.bancaifis.it (in the section ‘Corporate Governance – Corporate documents’).

The Board has not found any need for further operating solutions to facilitate identification and appropriate management of situations in which a Director has an interest, either personal or on behalf of third parties.

Last updated on 2015-03-16