The Compliance Department is charged with verifying that all services provided by the Company are in full compliance with the law, with regulations issued by the Regulatory Authorities and any self-regulatory provisions that the Company has enacted, as well as any other standards applicable to the Management Company. The compliance function operates in a position of functional autonomy, reporting to the Board of Directors. This function has been outsourced to the third-party, independent firm, Aimone Moschini & Associati. The Compliance function, in accordance with provisions of the Joint Bank of Italy-Consob Regulations dated 29 October 2007, continuously monitors the completeness, functionality and adequacy of internal control systems in relation to the nature and level of risks assumed.