On the 19th of February 2014, the Italian Competition Authority (the “Authority” or “Italian Authority”) opened an investigation against Unipol Gruppo Finanziario (“UGF”) and Premafin Finanziaria S.p.A. – Holding di Partecipazioni S.p.A. (“Premafin”) for a possible breach of obligations set forth in the decision  issued by the Authority on the 19th of June 2012. According to the Authority, UGF has not complied with the obligation under letter g) of the decision. Background of Decision 23678 At the outset, the principal facts of the original decision issued by the Authority on the 19th of June 2012 should be summarised in order to clarify the provisions, which have been breached. UGF is the parent company of Unipol Group, and Premafin is the parent company of Fondiaria SAI S.p.A, which
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