Corporate documents

To download and view the documentation on the corporate and governance policies of Banca Generali.

Articles of Association

The articles of association define the company's purpose, its capital structure and the rules for the running of the business. They can only be changed by the shareholders meeting, except for cases defined in Article 18 Comma 2.

Company regulations

Diversity Policy for Members of the Company Bodies

Banca Generali recognises and reaps the benefits of Diversity at the level of the Group, its Boards and its management, in all respects, including gender, age, qualification, competencies, training and professional background. Accordingly, Banca Generali has adopted a Diversity Policy for Members of the Company Bodies with the aim of concretely implementing the values of Diversity and Inclusion (D&I). To Banca Generali, ‘Diversity’ means understanding, recognising and making the most of differences; ‘Inclusion’ means being committed to attracting and developing talent, giving value to all aspects of diversity, encouraging all those who are a part of the Group to realise their fullest potential.

This Policy has been applied to the Banking Group effective 23 February 2021.

Policy on conflicts of interest management

In accordance with the provisions of the current legislation on conflicts of interest, Banca Generali updated the "General Policy on Conflict of Interest Management" adopted in its latest version by the Board of Directors on 11 December 2018. This document outlines the methodology adopted for identifying actual and potential conflicts of interest and the organisational model for managing them.

Internal Code of Conduct

The Internal Code of Conduct sets forth the rules of conduct imposed on members of the administrative and internal control organs, employees, financial advisors and collaborators of Banca Generali S.p.A.
The Code adopted by Banca Generali:

  • takes account of the guidelines drawn up from time to time by trade associations (in particular, the Italian Banking Association, Assoreti and Assogestioni) concerning the preparation of governance codes;
  • integrates, as necessary, the changes introduced by the Delegated Regulation (EU) 2017/565 and with the provisions of the Intermediaries Regulation (as most recently established in Consob Resolution No. 20307 of 15 February 2018);
  • It is an integral part of the Organization and Management Model adopted by the Bank for the purposes of preventing the offenses referred to in Legislative Decree 231/2001;
  • takes account of the Ocse Guidelines for Multinational Enterprises as well as the Ocse Corporate Governance Principles.

The Code is drawn up in accordance with the principles set forth in the Code of Conduct of the Assicurazioni Generali Group, which defines the main rules of conduct binding on all the employees and members of the administrative bodies of the Generali Group’s Companies.

Codice trattamento informazioni privilegiate

Il Codice per la gestione informazioni rilevanti e delle informazioni privilegiate ha lo scopo di:

  • disciplinare, con efficacia cogente, la gestione e il trattamento delle informazioni rilevanti e delle informazioni privilegiate, nonché le procedure da osservare per la comunicazione, sia all’interno sia all’esterno dell’ambito aziendale, di documenti ed informazioni riguardanti Banca Generali, ovvero le proprie società controllate qualora tali informazioni abbiano rilievo anche per Banca Generali, con riferimento alle informazioni privilegiate;
  • nell’ambito della gestione e del trattamento delle informazioni rilevanti e delle informazioni privilegiate, dotare Banca Generali di regole volte a prevenire la commissione, il tentativo di commissione, ovvero il coinvolgimento, diretto od indiretto, in comportamenti di abuso del mercato, in coerenza con i regolamenti e le leggi applicabili.

All’interno del predetto codice sono definite le informazioni qualificabili, rispettivamente, come informazioni rilevanti e informazioni privilegiate ai fini della normativa market abuse applicabile, i soggetti tenuti al rispetto del codice e le modalità di trattamento delle informazioni sopra menzionate.

Insider Trading Policy

Italian insider-trading laws have increased the level of transparency required of listed companies with regard to the market and investors. The Consolidated Financial Services Act (the so-called TUIF) and Consob regulations govern the way information is provided to the market regarding transactions worth at least 20,000 euros, carried out in the course of a calendar year, by key company personnel.

The company's policy was approved by the board of directors on 18 July 2006 and changed on 17 December 2020.

Further information and a list of filings are available in the Insider stock trading section.

Organisational and management model

The board of directors adopted an organizational and management model to prevent offences defined by Legislative Decree No. 231 of 8 June 2001, which introduced the principle that corporations may be held liable for offences committed by individuals entrusted with corporate representation, administration or management.

Corporate governance report

Banca Generali keeps the market informed every year about its corporate governance system and its adherence to the Corporate Governance Code of Listed Companies by preparing a report highlighting how the company has complied with the code's principles and criteria and with international best practice.

The report provides:

  • information about the ownership structure;
  • information about corporate bodies (composition, duration, functions and powers);
  • information on how the company's stock option plans work;
  • details of the rules governing the treatment of confidential information and significant operations with related, atypical or unusual parties;
  • information about the regulation of insider trading;
  • information about the organizational and management model;
  • information about the internal controls system, the officer responsible for preparing the company's financial reports and about the external auditors.

Corporate governance project

Pursuant to the Order of the Governor of the Bank of Italy of 4 March 2008, Banca Generali has prepared a Corporate Governance Project (approved by the Board of Directors on 24 June 2009 and most recently amended by the Board of Directors on 24 September 2013). The purpose of the Corporate Governance Project is to illustrate:

  • the reasons why the chosen traditional administration and control model is suited to ensuring the efficiency of management and effectiveness of controls;
  • the decisions concerning the Bank’s organisational structure;
  • the organisational structure of the companies belonging to the banking group;
  • the Articles of Association and financial structure;
  • the Internal Control System;
  • the resources devoted to the management of conflicts of interest; and the methods of interaction between the company bodies and the functions of the subsidiaries, as well as the flows of information towards company bodies.

Related party transactions

According to the provisions of Article 2391bis of the Italian Civil Code and of Article 4 of the Regulations setting forth provisions concerning transaction with related parties (adopted by Consob with resolution No. 17221 of 12 March 2010, as amended by resolution no. 17389 of 23 June 2010), the Board of Directors of Banca Generali approved procedures aimed at ensuring the transparency as well as the procedural and substantive correctness of related party transactions. Recently, on 22nd June 2021, the Board of Directors of Banca Generali approved an updated version of such procedure in line with the new provisions included in Consob Regulation No. 17221 of 12 March 2010 (introduced by Consob with resolution No. 21624 of 10 December 2020) effective as of 1st July 2021.

The Procedure for Related Party and Connected Party Transactions aims at putting into effect the rules given by CONSOB and Bank of Italy by introducing, at group level, the rules on Related Party and Connected Party Transactions governing the related investigation activities and approval, reporting and disclosure powers.

Risk assets and conflicts of interest connected parties

The Provisions for the Prudential Supervision of Banks – Bank of Italy Circular No. 263/2006, ninth update of 12 December 2011 — set forth provisions governing Risk assets and conflicts of interest in relation to Connected Parties (Title V, Chapter 5), which aim to safeguard against the risk that the proximity of certain parties to the Bank’s decision-making centres may compromise the objectivity and impartiality of decisions regarding the granting of loans and other transactions in relation to such parties, with possible distortions of the resource allocation process, exposure of the bank to risks subject to inadequate measurement or oversight and potential damages for depositholders and shareholders.

Banca Generali approves and revises, at least every three years, its internal policies governing controls of risk assets and conflicts of interest in relation to Connected Parties.

This document is integrated with:

  • the Procedure for Related Party and Connected Party Transactions and Transactions of Greater Importance adopted by the Bank in accordance with Consob Regulation No. 17221/2010 and the Bank of Italy’s Provisions concerning risk assets and conflicts of interest with Connected Parties;
  • the Conflicts of Interest Policy adopted by the Bank in accordance with the joint Bank of Italy/Consob Regulation of 29 October 2007, issued pursuant to Article 6, paragraph 2-bis, of the Consolidation Law on Finance;
  • the Equity Investment Management Policy adopted by the Bank in accordance with the Bank of Italy’s Provisions governing risk assets and conflicts of interest with Connected Parties;
  • other internal regulations and policies adopted by Banca Generali and in effect from time to time.

Country by country reporting

​​​​​​COUNTRY BY COUNTRY REPORTING AS PER ARTICLE 89 Directive No. 2013/36/EU ("CRD IV") Bank of Italy Circular Letter No. 285 dated 17 December 2013 – Part I, Title III, Chapter 2, Annex A 1.

Introduction

In order to increase the confidence of EU citizens in the financial sector, Article 89 of Directive No. 2013/36/EU of 26 June 2013 introduced the obligation for banks to provide periodic disclosure on activities carried out in the individual countries in which they have establishments.

This disclosure includes a list of the companies established in each country, with details of the nature of the activity performed and, separately for each country, the amount of turnover generated, profits earned, taxes paid, number of employees and amount of public funding received.

Data related to the consolidated financial statements at 31 december 2020

Rules Regulating the Proceedings of Meetings of Board of Directors and Internal Committees

The Rules Regulating the Proceedings of Meetings of Board of Directors and of Internal Committees aimed at ensuring that these ones are conducted in accordance with the principles set in the Supervisory Provisions.

Discover the documents of our Ordinary Shareholders' Meeting

Minutes, reports, communications and notices from our Shareholders' Meeting.