Legislative Decree no. 231/01 introduced for the first time into the Italian legal system the direct liability of companies for crimes committed by directors, executives, their subordinates and other subjects acting on behalf of the legal entity (e.g. the agents), when the unlawful conduct has been carried out in the interest of or to the benefit of the company concerned.

Companies shall not be considered liable pursuant to Decree no. 231 if the following conditions exist:

  1. the individual(s) who committed the crime acted in their own exclusive interest or in the interest of third parties not related to the company;
  2. the managing body of the company has adopted and implemented a compliance program apt to prevent the misconducts sanctioned by the Decree no. 231 (hereinafter referred to as the "Organisational Model");
  3. an ad hoc body has been appointed by the management, to oversee the implementation and updating of the Organisational Model (hereinafter referred to as the "Supervisory Body")

On October 3, 2016 the Boards of Directors of Italian companies adopted their own "Organizational Management and Control Model" and appointed their own Supervisory Body. After organizational changes and after the inclusion of new crimes in the Italian Legislative Decree, it has been decided to update the Model adopted in 2016.
On March 29, 2021 the Boards of Directors of VF Italia Srl and VF Management Service Italy Srl, respectively updated and adopted their own “Organizational Management and Control Model” and appointed their own Supervisory Body to perform the following tasks:

  • ensure the Model's efficiency and update it when necessary;
  • promote initiatives to raise awareness of the Model;
  • set up control procedures and perform periodic checks in the areas at risk;
  • receive and verify reports of any offences committed as specified in the Decree;
  • draft periodic reports on the implementation of the Model.

On May 31, 2024, after the inclusion of new crimes in the Italian Legislative Decree, the Boards of Directors of VF Italia Srl and VF Management Service Italy Srl, updated their own “Organizational Management and Control Model.”

For more information, reference: