MiFID and Legal Notices

Equita Capital SGR (the "AIFM", the "Company" or the "AMC") has adopted a special policy that provides for specific organisational measures aimed at preventing and managing both existing and potential conflicts of interest in the performance of its services. 

In compliance with the provisions of Directive 2014/65/EU (or MiFID II), the Company: 

• has identified the circumstances that generate, or could generate, a conflict of interests liable to have an adverse effect on the interests of one or more clients;
• has established effective procedures to be followed and measures to be taken to manage such conflicts;
• has established an appropriate system to record conflicts of interest that risk seriously harming the interest of its clients.

For each of the points above, the main activities and actions implemented are summarised below.

Identification of conflicts

In order to identify any conflicts of interest that could potentially adversely affect the interests of clients or those of the UCI managed, the Company must take into account, as a minimum, whether in the course of providing a service a relevant person (or any delegating manager or person to whom they report directly or indirectly):

• is able to make a financial gain, or avoid a financial loss, at the client's expense or that of the UCI and its investors;   
• has an interest in the outcome of a service provided to the client or services performed for the UCI and its investors that is distinct from the client's interest in that outcome;   
• has an inducement to favour the interest of another client or other UCI over the interests of the client or UCI in question;  
• carries on the same activity as the client;  
• receives or may receive from a person other than the client or the UCI, an inducement in relation to a service provided to the client, in the form of money, goods or services, other than the standard commission or fee for that service.

 

General principles

Code of ethics and professional conduct

The Company has adopted an Internal Code of Conduct that forms the set of standards that must be observed in order to guarantee the regular functioning and reputation of the Company. These standards refer to transactions, conduct and relationships, both within and outside the Company (for example, with clients, counter-parties, suppliers, public institutions, employees, etc.). The Internal Code of Conduct contains general obligations in terms of diligence, fairness and loyalty, which apply to all Relevant Persons within the Company. Of particular importance in this respect are the:

Functional and hierarchical seperation

The organisational structure establishes a clear definition of roles and responsibilities and appropriate separation of duties considered incompatible with the prevention of conflicts of interest.

For this purpose, staff responsible for a certain stage of a process or an entire process that may potentially generate a conflict of interest are assigned to distinct and separate departments (and managers).

Logical separation is also guaranteed thanks to the controls carried out by the IT department at Equita SIM S.p.A.- acting as an outsourcer - aimed at ensuring that employees have separate access to the information they acquire whilst performing their duties.

Rules of conduct for provision of services

The Company has adopted:

• its own system of in-house procedures designed to establish rules of conduct in providing services to clients, in order to encourage each division to operate based on the principles of independence, transparency and fairness;
• measures for management of confidential and privileged information in order to prevent unlawful conduct;
• a procedure that ensures that client complaints are handled by personnel not directly involved in the relevant business area in order to guarantee impartial judgement;
• measures designed to impede or control the exchange of information between Relevant Persons engaged in activities that give rise to a conflict of interest, when such an exchange involves interests that are potentially in conflict with those of the client;
• a remuneration policy that eliminates any direct connection between the compensation of Relevant Persons who prevalently perform duties that may give rise to conflicts of interest.