Reform of Italian Corporate and Securities Laws: The Investor Protection Act

March 9, 2006

On March 9, the Milan and Rome Offices authored an Alert Memo entitled “Reform of Italian Corporate and Securities Laws: The Investor Protection Act”. This five-page memo summarizes the main aspects of the “Investor Protection Act”, a set of rules adopted by the Italian Parliament designed, among other things, to enhance the rights of minority investors, the accountability of corporate directors and officers and the reliability of financial information of Italian listed companies.

CLEARY GOTTLIEB STEEN & HAMILTON LLP

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Reform of Italian Corporate and Securities Laws: The Investor Protection Act