ROME, July 8 (Reuters) - Full independence for asset management companies remains fundamental for the development of mutual funds, Bank of Italy Governor Mario Draghi said on Wednesday.
The central bank has just launched a consultation exercise on new measures on how the parent companies in banking groups should manage their individual units, he told the annual meeting of the Italian Banking Association.
"The full independence of (asset) management companies remains fundamental," he said.
"In addition to defining clearly the strategy pursued in this sector, the (banking) groups should ensure a real independence of asset management companies in the choice of investment and commercial policies."
Draghi also urged a review of the tax regime on the sector. (Reporting by Giuseppe Fonte; Writing by Nigel Tutt; Editing by Jon Loades-Carter)