The Company has designed an organisational structure to allow adequate sharing out of roles, responsibilities and powers; it has also adopted a set of rules aimed at guaranteeing a proper and efficient performance of management activities, all focused on the client’s interests. In particular, the Company has adopted policies and operating procedures for conducting its activities, also aimed at properly dealing with any situation of conflicts of interest, which also foresee the involvement of Risks and Conflict of Interests Committee and the Board of Auditors in the decision-making process. The Company also adopts an Ethical Code, compliance with which is monitored by the Supervisory Board, an independent committee with autonomous powers of initiative and control, appointed by the Company’s Board of Directors.