The Self-regulation code for unlisted family businesses, an initiative promoted by AIDAF, Assonime, the University and SDA Bocconi, is aimed at medium and large companies (with turnover starting from 20 million euros) controlled by one or more families, with the aim of promoting a more solid, transparent and effective governance.
The Code introduces three fundamental pillars to modernize the management of these entities:
- The administrative body: A collegial structure open to at least two authoritative external advisors is recommended to improve decision-making processes.
- The generational transition: Precise rules and “emergency plans” are suggested to ensure business continuity, encouraging a progressive separation between the family (strategic role) and management (operational management).
- Sustainability: The Code requires boards of directors to integrate environmental and social impact assessments into their processes, following clear reporting standards.
Adherence to these rules is volunteer and is based on the principle of “comply or explain” (apply or explain): Companies that choose to adopt the Code must publicly declare how they have implemented its principles or justify any deviations.
Our Partner, Avv., spoke on the topic. Daniele Giombini on the pages of ItaliaOggi of February 16, 2026: «we support entrepreneurial families in management of generational transitions, identifying and implementing suitable tools to ensure a orderly turnover and business continuity. In addition to succession planning, we follow the definition of governance structures aimed at ensuring ownership and management stability. I also recall our intervention in family situations characterised by the presence of a plurality of members and family members, for the construction of a clear and shared governance system. In several organizations, we also serve as board meeting secretaries, allowing us to attend meetings of the company's governance organization, providing legal advice and knowledge of corporate issues.
As long as the founding partner remains, the company always finds its balance points. which are often guaranteed iure imperii from the founder himself. When this figure is missing, new ones can develop conflicts which, if not promptly resolved, lead the business venture to face significant difficulties. If this occurs, liquidating the dissenting shareholders or even transferring the entire share capital is the simplest and most suitable solution to resolve the conflict.
