Since 2006, Acea has introduced a Regulation for the internal management and external disclosure of documents and inside information, in observance of Market Abuse legislation.
The Regulation, adopted in compliance with the provisions set forth by Borsa Italiana’s Corporate Governance Code and regularly updated, sets out the rules concerning the management and processing of confidential information and the procedures to be followed for the external disclosure of documents and information, with particular reference to the so-called "Inside Information", within the meaning of EU Regulation 596/2014 (Market Abuse Regolation).
The procedures described in the Regulation are intended to prevent the abuse of inside information (on the part of a person buying or selling, based on inside information in his or her possession, the financial instruments to which such information refers), the unlawful disclosure of inside information and market manipulation.
In particolare, il Regolamento:
establishes the procedures for the processing and dissemination of company information within the Group;
codifies the confidentiality requirement on the part of corporate representatives, who come into possession of information the untimely dissemination of which could be detrimental to the assets of the assets of the company and/or shareholders, and the company's obligation, given the appropriate circumstances, to provide a full and timely disclosure of the information to the market;
lays down the procedure for the disclosure of Price Sensitive information to avoid potential disclosure distortions or irregularities.
According to the laws on Market Abuse, inside information is that which directly or indirectly concerns Acea or one or more financial instruments; it is of a precise nature; it has not been made public and, if made public, could significantly influence the prices of the financial instruments.
The Regulation establishes the procedures for processing and circulating inside information and, more specifically:
the disclosure obligations of subsidiaries vis-à-vis Acea
the conduct to be adopted in the event of market rumours
cases where dissemination of the news can be delayed
the list of people with access to inside information.
Documents
Regulation for internal management and external communication of privileged documents and informations (italian only)
Explanatory diagrams of the Acea Regulation (italian only)
Implementing regulation
Regulation (UE) 596 2014 (italian only)
