Rating of Legality

The Rating of Legality is an instrument aimed at promoting the legality and the ethical principles within the company environment. It is obtained through the assignment of a judgment on the respect for the law and on the level of correctness of the business management. It represents a reward system for those companies that respect the law and are in line with the highest ethical, social and governance standards, by adapting their own organisation to that specific direction.

Actually, it does not only represent an important reward at international level, but also a system that gives benefits, as for example an easier access to bank credit or the granting of public funding. Either public administrations and the banks take into account this reward for the granting of loans and for the access to credit. It is a system that takes into consideration ethical principles and attitudes within companies, as actions that enhance the corporate reputation on the market. The awarding of the Rating is given and promoted by the AGCM (Competition and Market Authority), which is constantly maintaining updated, in a specific section of its website, the list of companies to which the Rating has been awarded. The company is entered in a “list of virtuous companies” that highlights the level of Rating that has been awarded, suspended or revoked, and to which all clients, suppliers and partners will have easy access.

Once the basic requirements for the application are evaluated, that is to say a minimum turnover of EUR 2 million and the business registration for at least 2 years, the Competition and Market Authority, has granted, on November 5 2014, a two-star award to the Cooperative. It is undoubtedly a very positive evaluation, if we take into consideration that the regulation requires, in addition to the admission requirements, other 6 requirements, which allow to obtain a maximum score of 3 stars.

It is, actually, only a single step of a much longer path. It is a real journey towards legality, which La Formica chose to undertake since its birth, by complying with the conditions that the AGCM evaluates for this score. Among these are: 1) the respect for the legal compliance protocols subscribed by the Ministry of the Interior, Confindustria, the League of Cooperatives and the commitment to accede to further protocols that will be subscribed with other business associations; 2) the respect for the protocols that have been locally subscribed by the prefectures and by professional associations, like the protocol already subscribed by Confcooperative; 3) the use of traceability systems for payments below the minimum required by law; 4) the adoption of an organisational structure which main function is to control the compliance of the activities and the respect of the regulations such as the integrated management system for Quality-Environment-Workplace Safety; 5) the registration on the so-called “white list”, which is the list of suppliers, service providers and executors that are not subject to Mafia infiltration.

The list of Italian companies that obtained the Rating of Legality is available at the link http://www.agcm.it/rating-di-legalita/elenco.html , on the website of the Competition and Market Authority ( http://www.agcm.it/ ).