Fastweb’s Supervisory Body operates as a board and is composed of three members, the majority of whom are independent. The members were chosen to meet the requirements of professionalism, continuity, independence, autonomy and objectivity and they can perform their duties without the interference or influence of company management as they are outside the hierarchy of the operating business functions.
In the performance of its duties, the Supervisory Body coordinates with the other business functions to monitor operations in the risk areas, to perform periodic checks, to verify whether the Organisational, Management and Control Model needs to be updated and to establish the mandatory reporting flows to the Supervisory Body, with the support of the Compliance & Risk Management function.
The Supervisory Body periodically reports to the Chief Executive Officer and to Fastweb’s corporate officers (Independent Control Committee, Board of Directors and Board of Statutory Auditors) on the status of the implementation of company policies supporting the activities pursuant to Legislative Decree 231/2001.
As part of the subsidiaries’ application of the Model, Fastweb’s Supervisory Body is responsible for coordinating the Supervisory Bodies of the subsidiaries/investees in order to ensure that the entire control system is consistent and therefore effective.