Italy-Romania Dialogue on Corporate Responsibility and Prevention Models 

Last week there took place, at Italy’s Residence, a dialogue at top level between Italy and Romania on the issue of corporate responsibility and conformity at enterprise level.   The meeting - held behind closed doors under Chatham House rules - brought together more than forty experts, jurists, economists, lawyers, institutional and business representatives from both countries. The objective was to initiate an in-depth bilateral dialogue on the benefits for companies of adopting organizational and control models capable of preventing various forms of illegality. The discussion allowed to gather contributions for the drafting of an informal policy paper with specific recommendations to be shared with the Romanian authorities and the business community in the context of Romania's accession to the OECD.   During the event, the participants discussed about concrete benefits for implementation of corporate conformity programmes as instruments for the prevention of economic-financial, corporate, fiscal, work and environmental  crime.  A special attention was offered to the internal check-in systems, ethical code and role of organisational models in conformity with European law and OECD standards, in view with practical experience gained in Italy, the UK and other European  jurisdictions.   It was also emphasized that the responsible use of artificial intelligence and new technologies paves the way for more effective, predictive and inclusive controls, while ensuring greater efficiency and speed in supporting business, investment and the achievement of strategic business objectives by linking integrity to performance. On the Italian part, there intervened representatives of some multinational groups already active in Romania or interested in developing their activity here – Ansaldo Energia, UniCredit Romania, Intesa Sanpaolo Romania, SNAM, SAIPEM and Fincantieri – who shared experience and good practice regarding integration of conformity models in the culture and corporate strategies.   There were also shared experience and good practice during the Business at OECD (BIAC) such as Zero Corruption Manifesto and within B20 South Africa with the policies document of the operation group for integrity and conformity, taking into discussion the multilateral perspective on the role of conformity and corporate integrity as essential factors for the creation of an inclusive, resilient and future-oriented entrepreneur ecosystem.   The debate highlighted how the adoption of prevention systems contributes to enhancing transparency, traceability of corporate decisions and risk control, protecting investments and reducing financial and reputational exposures, including in the supply chain. It was also emphasized that the reputational benefit of compliance translates into a real competitive advantage for companies in international markets.   The event was also attended by 34 students of the Executive Master "Corporate Compliance & Business Integrity" at the Catholic University of Milan, who had the opportunity to follow the debate closely and gain relevant insights for academic and professional reflection.   The dialogue concluded with the gathering of operational recommendations and an exchange of ideas for the Policy Paper for the Romanian authorities. The paper, designed to support further alignment with international standards and to strengthen economic cooperation between Italy and Romania, is offered as an open input to the institutions in the reform debate.