Company & Commercial updates

Italy

Contributed by Grieco e Associati
Supreme Court of Cassation decision on activities of controlling entities
  • Italy
  • 21 October 2019

Article 2497 of the Civil Code sets out that companies which provide direction to coordinate their subsidiaries are directly liable to the subsidiaries' minority shareholders for any damages caused to profitability and shareholding value by a violation of fair management principles. In this context, a recent Supreme Court of Cassation decision examined how to assess whether a corporate group exists and the scope of controlling entities' direction and coordination activities.


USA

Contributed by Cooley LLP
How have companies adapted to CAMs?
  • USA
  • 21 October 2019

In a recent report, Intelligize examined data from a survey of 171 compliance specialists at public companies to examine how public company compliance officials are adapting their own corporate disclosure and processes to comply with this new regime. Among the issues considered were the impact of 'dry runs', changes to company disclosures and changes in controls.


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