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Carbonetti e Associati Studio Legale is a legal consultancy firm with offices in both Milan and Rome. It supports clients across all sectors of corporate and financial law and litigation.

The law firm was obligated to meet the requirements of the Market Abuse Regulation (MAR) in two different aspects. On one hand, their listed clients are obligated by the law to create and maintain an insider list for each piece of inside information that occurs. On the other, Carbonetti e Associati Studio Legale – as a consultancy working on behalf of those organisations and with access to that information – must also manage its own lists.

This case study demonstrates why the firm required a specialist tool for its insider list management and why it chose to work with ComplyLog’s InsiderLog tool.

Before InsiderLog

Carbonetti e Associati Studio Legale often supports listed companies being investigated by the Italian regulator CONSOB. So, it was important for the firm that their insider list management was robust and met all of the requirements set out in MAR and Italian law.

When looking for a platform, the team understood that the insider list management software the organisation chose should come from a trusted source, with a prestige product that was in line with the reputation of the organisation’s clients.

Rocco Santarelli, partner at Carbonetti e Associati Studio Legale, started by consulting with clients for whom the company provided corporate services on insider list management. He found that InsiderLog is a very positive and efficient solution.

Having previously come into contact with ComplyLog’s parent company Euronext when working on behalf of a luxury goods brand , Rocco made contact to see how InsiderLog would work for Carbonetti e Associati Studio Legale.

Insider list activity

Rocco stated that the law firm generally creates one insider list per month, although that is dependent on its clients and their activity. There can be as many as four lists, and Carbonetti e Associati Studio Legale must update its own list when its clients open or modify the lists relevant to the firm.

For his firm, event-based lists are the standard solution. Permanent insider lists are not appropriate for their organisational structure.

Using InsiderLog

One of the features of InsiderLog that aligned with Carbonetti e Associati Studio Legale’s clients included the time-saving automated emails sent to insiders to inform them of their place on the list and to remind them to acknowledge that information.

And the user-friendly nature of the software was another bonus for Rocco. He said:

InsiderLog is easy to implement and easy to use. This is exactly what we were looking for in our insider list management software. It is incredibly intuitive from my perspective. We had a very good induction with InsiderLog and, although in that time you cannot cover everything, the software is so straightforward to use that you do not need any additional instruction to get up to speed.

The user experience is essential to Carbonetti e Associati Studio Legale, as they are required to create an insider list as soon as possible after the inside information is established without losing time. Being able to generate the list in good time and in the correct, compliant format is of the utmost importance. Rocco said: “For our work and for complying with the regulation, InsiderLog’s intuitive workflow is important because it makes our processes more efficient. You can use it quickly and in the right way.”

Another benefit that Rocco identified was that the process of creating and maintaining insider lists with InsiderLog was helpful to the organisation’s trainees; it highlighted the correct processes for managing inside information in conjunction with the firm’s partners. Rocco also mentioned the reputational benefits of working with a Euronext company, which helps gain the trust of Carbonetti e Associati Studio Legale’s clients.

InsiderLog recommendation

Rocco confirmed that he would recommend InsiderLog to other law firms. He said:

InsiderLog has a very good balance between cost and the quality of the product. In this respect, it is very difficult to beat.

To find out how insider list management software InsiderLog can streamline your workflows and help you maintain compliance with legislation based on MAR, request a demo today.

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