AGCM

PRESS RELEASE

LEGALITY RATING BOOM AT THE ICA: +243% REQUESTS AND +450% CASES CLOSED

The statistical data concerning the Legality Rating are such to even make the term “boom” seem inadequate. Through this tool, the ICA attributes a score to virtuous companies on the basis of the law dated 2012. Between last year and this year, which is coming to an end, the requests have basically tripled, passing from 441 to 1,514 ( 243%), while the cases closed by the ICA’s Offices have almost quintupled: from 251 to 1,382 ( 450%). Aimed at transparency and fight against corruption, this tool clearly provides economic, financial and reputational benefits which an increasing number of companies are interested in obtaining, submitting request to the ICA for a “quality label”.

More in detail, against the 183 ratings attributed in 2014, this year they have risen to 1,083. In parallel, also the denials have increased from 6 to 66, as well as confirmations passing from 15 to 28. Lastly, 5 revocations have been carried out, while none last year.

Approved by the Parliament at the end of 2012 and entered into force with the ICA’s Regulation in 2013, the Legality Rating is an “awarding” tool. In fact, the ICA has been appointed to attribute a score - from one to three “stars” - to virtuous companies, with a yearly turnover above two million Euros, that satisfy a series of legal requirements. First of all, in order to obtain a “star,” the Company’s owner and managers must not have criminal or fiscal records. Moreover, the Company must not have been sentenced for anti-competitive behaviours in the two previous years, and all of its payments and financial transactions above one thousand Euros must be carried out exclusively through traceable means. In order to obtain a higher score, the Regulation indicates six further requirements: two “stars” are granted if half of the requirements are satisfied, three “stars” if they are all satisfied.

According to what provided for by law, the Legality Rating entrusted to the ICA “is relevant in the granting of public funds and in access to bank credit.” Pursuant to the same regulation, “when granting funds to companies, banks that do not keep into account the attributed rating are obliged to submit a detailed report to Banca d’Italia motivating their reasons”.

The complete list of companies that, to date, have obtained the Legality Rating, and related score, is provided on the ICA’s website (www.agcm.it).

Rome, 28 December 2015