CONSOB

Key Data

  • Name: Consob
  • Area of responsibility: Italy
  • Supervision of the business units: Supervision of securities trading and the players involved in it, and in particular the prevention of insider trading.
  • Location: Rome
  • Key People: Paolo Savona

Unlike some other countries, there is no centralized financial market supervision in Italy. Banking supervision is the responsibility of the Banca d’Italia, while insurance supervision is handled by IVASS.

Consob is the Italian abbreviation for Commissione Nazionale per le Società e la Borsa, which translates to the National Commission for Companies and the Stock Exchange in English.

Consob is the public authority responsible for regulating and supervising the Italian financial market. It was established in 1974 and is an independent organization under the Italian Ministry of Economy and Finance.

Consob’s main tasks include protecting investors, ensuring transparency in the financial markets, and preventing and detecting irregularities and fraud in the securities markets. It oversees the operations of companies listed on the Italian Stock Exchange, as well as other financial intermediaries such as banks, investment firms, and asset management companies.

In summary, Consob is an important regulatory body in Italy that helps to maintain the integrity of the country’s financial markets and protect the interests of investors.

Fines

Consob is the Italian regulatory body responsible for enforcing securities laws and regulations. It has the authority to impose fines and sanctions on companies and individuals who violate these laws. The fines and sanctions can include administrative fines of up to €5 million, suspension or revocation of licenses, and prohibition of certain activities. Consob can impose fines and sanctions for various violations, such as insider trading, market manipulation, and failure to comply with reporting and disclosure requirements. The amount of the fines can vary depending on the severity of the violation and other factors considered by Consob.

Conclusion

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Jurisdiction

Italy

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