LensCrafters 2013 Annual Report Download - page 80

38
Procedure for the Processing of Confidential Information
On March 27, 2006, in compliance with Articles 114, 115-bis of the Italian Consolidated
Financial Law and of Articles 152-bis et seq. of the Regulations for Issuers, as well as the
regulations contained in the Code of Conduct, the Board of Directors adopted a Procedure for
the processing of confidential information (pursuant to Article 181 of the Italian Consolidated
Financial Law), in order to ensure that the disclosure thereof is timely, thorough and
adequate. This Procedure was last updated on February 27, 2014.
The following persons are required, among other things, to comply with the confidentiality of
such documents and information: (i) directors; (ii) statutory auditors; (iii) any manager in
Luxottica and in the companies belonging to the Group; and (iv) any other employees of
Luxottica and of the companies belonging to the Group who, by virtue of their function or
position, become aware of information and/or acquire information classified as confidential
information.
The Procedure for the processing of confidential information also requires the identification
of the persons responsible for external relations, their expected behavior, the operational
procedures and related obligations to comply with the same. The policy also indicates the
characteristics, contents and procedures for updating the Register of people with access to
confidential information.
This Register was implemented by Luxottica in order to comply with the provisions of
Article 115-bis of the Italian Consolidated Financial Law.
This policy is available on the website www.luxottica.com, in the
Company/Governance/Documents and Procedures section.
Appointment of External Auditors
U.S. regulations in force provide that either the Audit Committee or the equivalent body
under the specific rules of the issuer’s home country must approve the services provided by
external auditors to the Company and to its subsidiaries.
To this end, on October 27, 2005, the Board of Directors approved the ‘Group Procedure for
the Appointment of External Auditors’, in order to protect the independence of the external
auditor, which is the fundamental guarantee of the reliability of the accounting information
regarding the appointing companies. This policy was last updated on July 26, 2012.
The parent company’s external auditor is the main auditor for the entire Luxottica Group.
The limitations on the appointment contained in this policy derive from current regulations in
Italy and in the United States, by virtue of the fact that the Company’s shares are listed both
on the MTA, organized and managed by Borsa Italiana, and on the New York Stock
Exchange, without prejudice to any additional constraints imposed by any local laws
applicable to the individual non-Italian subsidiary companies.