It is necessary to reform motor liability, radically reorganize public companies and strengthen the separation between banks and foundations. These are the three fundamental points on which he focused today John Pitruzzella, number one ofAntitrust, presenting the annual report of the Competition and Market Authority to the Senate.
In collecting a solicitation that has just arrived last week from IVASS, Pitruzzella explained that “the Antitrust now deems it necessary to intervene by reform of the insurance market for civil liability deriving from the circulation of cars and motorcycles, where the prices for policies paid by consumers are among the highest in Europe and the mobility of policyholders from one company to another is particularly low”.
As for public companies, "it is necessary to proceed with a work of radical reorganization - continued the president of the Antitrust in his speech to the Senate -, providing for divestitures or in any case the impossibility of renewing credit lines for those companies that record losses or supply goods and services at higher than those of the market. The time also seems ripe for including the discipline of local public services on the reform agenda, overcoming the traditional approach based on a general model and elaborating particular disciplines suited to the nature of the various services, so as to open up spaces for competition in those areas in which the maintenance of exclusive rights does not find technical justification, and in other cases enhancing competition for the market".
Finally, on the side of relationship between credit institutions and banking foundations, Pitruzzella reiterated the need to “continue the process of rescission of personal ties between various institutes, started, at the suggestion of the Authority, with the introduction of the prohibition of interlocking directorates. Now this prohibition must also be made effective for banking foundations. Furthermore, a strengthening of the separation between the foundation and the transferee bank must be achieved, extending the prohibition on holding controlling interests in banking companies also to cases in which control is exercised, de facto, jointly with other shareholders".
