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The Board of Directors of Banca Farmafactoring S.p.A. approved the "Regulation of Banca Farmafactoring S.p.A. Banking Group for the identification, and resolution upon, related-party transactions" in compliance with the regulatory provisions set out in Title V, Chapter 5, of the Bank of Italy's Circular of 27 December 2006, No. 263, upon previous favourable opinion expressed by the Board of Statutory Auditors and the Independent Directors.
The purpose of the aforementioned provisions is to oversee the risk that proximity, if any, of certain persons to Banca Farmafactoring S.p.A. Banking Group's decision-making centres may compromise the objectivity and impartiality of decisions on transactions involving the same persons, with possible distortions in the resource allocation process, the Bank exposure to non-adequately measured or overseen risks and potential damages for shareholders and stakeholders.