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Italy: Antitrust regulator asks government to revise cooperative banks

By  |  October 3, 2012

The Antitrust regulator has asked the Italian Government and Parliament to review and revise the structure and governance of listed bank cooperatives. Currently, the structure of the Banks could give rise to situations that limit the contendibility of these banks without ensuring a spirit of mutual respect. The revised structure would abolish the clause establishing approval requirements, as well as the use of proxies. The new structure aims to, create better balance between participation in social life and held capital stakes, rethink the existing system of one vote per head, and place limits on shareholding.

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