Compliance in Banks 2010

Transcription

1 Compliance 2010 Compliance in Banks 2010 Il programma di compliance antitrust di Intesa Sanpaolo Alessandra Perrazzelli Head of International Regulatory & Antitrust Affairs Roma, Palazzo Altieri 11 novembre 2010

2 Content The Antitrust activities of the International Regulatory & Antitrust Affairs Why a Competition Compliance Programme? The 3 pillars of the Competition Compliance Programme The EU Competition Compliance Policy The Antitrust Team Key points of the Competition Compliance Programme Expected outcome of the Programme Possible future trends 1

3 The Antitrust activities of the International Regulatory & Antitrust Affairs The International Regulatory & Antitrust Affairs Office, at Group level: manages the relationship with national and supranational antitrust authorities; provides advice on the applicable legal framework on competition, antitrust and state aids; manages antitrust proceedings and responds to questionnaires, consultations and sector inquiries; promotes a competition culture within the Group; and implements and monitors the application of the Competition Compliance Programme within the Group. 2

4 Why a Competition Compliance Programme? to spread a culture of compliance with antitrust rules; to benefit of the actual compliance with antitrust rules (e.g. damage mitigation, improvement of competitiveness, demonstration of commitment to compliance); to prevent any violation of the relevant antitrust rules; and, therefore: to maintain a high level of reputation in the market in relation to consumers, competitors and antitrust authorities; to avoid the application of strict scrutiny by authorities on Intesa Sanpaolo s future behaviour; and, last but not least avoid fines! Note 1 : as of 12 January 2006 the Autorità Garante della Concorrenza e del Mercato is responsible of the application of antitrust rules to the financial and banking sector. Note 2 : following the merger between Banca Intesa e Sanpaolo IMI, the competence with antitrust rules has become a priority for the Group. 3

5 The 3 pillars of the Competition Compliance Programme 1. The EU Competition Compliance Policy 2. The Antitrust Team 3.Training programmes: company web tv, e-learning, class training 4

6 The EU Competition Compliance Policy Three main sections: 1. Antitrust rules Prohibited agreements (art. 101 Treaty) Abuse of dominant position (art. 102 Treaty) Concentrations between undertakings (Merger Regulation 139/2004) 2. Compliance with competition rules Why bother with competition rules (consequences of non compliance and positive advantages of the antitrust programme) To do s and not to do s (assessing the risk, typical examples of prohibited agreements, recommendations) 3. Preventive measures and company procedure Inspections (what to do during and after the inspections) Privilege (rules of privilege) Document retention (including electronic records) 5

7 The Antitrust Team is a working group composed by antitrust specialists belonging to the International Regulatory and Antitrust Affairs Office - depending on the different areas of responsibility and the implications of business, representatives of other Divisions may also participate; is equipped with the necessary expertise to help identify specific areas of concern and to advise on how to deal with potential competition problems arising from any activities and initiatives; conducts regular reviews of files and documents and holds interviews with personnel in various departments; and organises training programmes for the top management and targeted personnel All members of the staff are expected to give the Team the fullest co-operation, which is essential for the proper implementation of the Policy. 6

8 Key points of the Competition Compliance Programme full compliance with antitrust rules is essential; all employees at any level may commit antitrust violations; respecting antitrust laws prevents fines, enhances the reputation of the Group, motivates employees to be an active and positive party; the Antitrust Team is available to help, not to evaluate or judge the behavior of the employees. 7

9 Expected outcome of the Programme Educating employees: employees become aware of the anti-competitive nature of their competitors activities and, if necessary, learn how to take distance from the behavior of other companies or to take the appropriate steps to complain about such behavior. Mitigating damage: the Policy is an early warning system to discover violations at an early stage with a view to mitigating damage and / or allow time for the preparation of appropriate positions. Improvement of competitiveness: compliance with competition rules will improve the Group s competitiveness in the long term and carefully planned lawful and legitimate behavior will lead to better business and improved profits. Demonstration of commitment to compliance: implementation of the Policy is likely to be taken into consideration in our favor, specifically in respect of mitigation of any fines, in case of future breach of competition rules. 8

10 Possible future trends Joaquín Almunia «Une culture de concurrence en Europe» Je veux travailler pour la mise en place d'une véritable "culture de concurrence" au sein des entreprises européennes. C'est une question à la fois morale et pratique. Les entreprises doivent assumer la responsabilité de leurs comportements et prendre toutes les mesures nécessaires pour éviter les comportements illégaux. Is there recognition by the competition authorities of the efforts made by companies? 9

11 THANK YOU! 10