The Committee for Transactions with Related Parties
|Members||Office in Iren||Role on the Committee||Executive / Non-executive / Independent|
|Alessandro Giglio||Committee Councilor||Member||Non-executive - Independent|
|Ginevra Virginia Lombardi||Committee Councilor||Member||Non-esecutive - Independent|
|Giacomo Malmesi||Committee Councilor||Member||Non-executive – Independent|
|Licia Soncini||Committee Councilor||Chief||Non-executive - Independent|
The Procedure for transactions with related parties, approved by the Board of Directors, defines:
- a detailed description of the concepts relevant to the application of the Procedure itself, as well as the identification of the persons who qualify as Related Parties of the Group;
- the establishment of the Commission for the Evaluation of Related Party Transactions, with the function of permanent monitoring of the evaluation process and as a filter between the management and the persons in charge of investigating operations (typically, the COPC);
- the regulation of information flows.
The Procedure also implements the provisions of the Regulation on related party transactions (Consob resolution no. 19974/2017) on market abuse: related party transactions are divided into transactions of greater importance, transactions of lesser importance and transactions of small amounts, with the provision of different procedural and transparency regimes depending on the type of transaction.
A central role is attributed to the CTRP, made up of independent directors who are not related to the individual transaction in question. In order to guarantee the double requirement of independence and non-relation in the individual transaction to be investigated, the Procedure outlines the mechanisms for identifying any persons responsible, as an alternative, for the investigation.
In the case of transactions involving the remuneration of directors and Senior Managers with Strategic Responsibilities, the Remuneration and Appointments Committee assumes responsibility for the matter, limited to cases where the composition of the Committee meets the minimum requirements of independence and non-relation of its members as required by the CONSOB Regulation.