Second Edition of the Italy Corporate Governance Conference

Milan, 1.12.2016 – The Italian Corporate Governance Committee hosts today and tomorrow at Palazzo Mezzanotte the second edition of the Italy Corporate Governance Conference. The conference is created and organized by Assogestioni and Assonime, in cooperation with OECD and with the support of Borsa Italiana.
The Conference aims to provide an annual forum for discussion on the “state of the art” of Corporate Governance in Italy and in Europe involving leading members of the institutions and the financial community both nationally and internationally.
During the two days of debate, crucial issues will be addressed such as topics related governance of the Italian listed companies, the relationship between companies and institutional investors, the responsibilities of the board of directors in creating long-term value and in the process of appointing directors, the role of shareholders with respect to remuneration policies for managers and transactions in potential conflict of interests.
After the welcome speech by Raffaele Jerusalmi (CEO – Borsa Italiana) and the introduction by Gabriele Galateri di Genola (Chairman – Italian Corporate Governance Committee and Assicurazioni Generali), the conference was opened by Claudio De Vincenti (Italian State Secretary to the Prime Minister).
“Corporate governance is a key element in restoring confidence in capital markets – Mr. Galateri said – but also to fill the gap between the increasing flow of savings and the growing need of investment to sustain the economic growth “. Self-regulation, through codes of corporate governance, “has provided a dynamic instrument for identifying best practices and to update them to the new challenges and opportunities raised by the evolution of the capital markets and the corporate practices.” In conclusion, Galateri mentioned newly emerging themes. “First of all – he observed – we need to calibrate better standards of corporate governance for the so called growth companies” in order to make them “suited to their specific features and, at the same time, capable of giving more confidence to investors.” The second challenge is the corporate governance of financial intermediaries. For these subjects surveillance rules issued by the regulator are expanding at issues such as remuneration, risk management, composition and structure of the board, following a regulated approach of “command and control” that – noted Galateri – is “unusual in matters of corporate governance. The challenge is to find a balance between the need to avoid failures in corporate governance, particularly for systemically important intermediaries that contributed to the financial crisis, and the need to ensure that the corporate governance structure of these entities can develop and diversify in order to encourage effective competition. ”

Press Release