Aggregated News From Investment Management Regulators

Italy

Published the 2022 Report on financial investments of Italian households

The Report presents evidence on financial knowledge, attitudes and financial choices of Italian investors, also to gain insights relevant to investor protection. The 2022 Report on Italian household investment choices analyses financial knowledge, attitudes and behaviours of a sample of 1,436 individuals, 80% of whom are men, representative of the Italian investor population.

“Tokenized equity and tokenized stocks”: new Consob Legal Research Paper

Legal Research Paper n. 25 entitled “Tokenized equity and tokenized stocks” has been published. The paper was edited by Paolo Carrière (Bocconi University), Nicola de Luca (University of Campania Luigi Vanvitelli), Michele de Mari (University of Verona), Giorgio Gasparri (Consob), Tommaso Nicola Poli (Consob) and presented by Alberto Stagno d 'Alcontres (University of Palermo).

Supervision of corporate governance and transactions with related parties with reference to prospectuses relating to offer and admission to trading

Subject: Supervision of corporate governance and related party transactions in the context of offer and admission to trading prospectuses: Warning

Securities and Financial Ombudsman (ACF) – 18 million of compensations to savers in 2022 – The total amount of repayments in the six-years activity...

2022 ended with the recognition in favour of Italian savers of substantial compensation by the Securities and Financial Ombudsman (ACF), the body set up in Consob for the out-of-court settlement of disputes between intermediaries and their customers.

Consob amends the Issuers’ Regulation about key information that investment funds must disclose to savers

The rules regarding the key information that investment funds must provide to savers are changing. From 1st January 2023 - according to the latest amendments to the Issuers' Regulations (resolution no. 22551 of 21 December 2022) approved by Consob implementing the EU legislation - the so-called Kid (Key Information Document), previously adopted for financial-insurance products and for closed-ended AIFs (Alternative Investment Funds), aimed at retail investors, will also apply to other fund categories, UCITS (Undertakings for Collective Investment in Transferable Securities) and open-ended AIFs, aimed at retail customers. Until the end of 2022, UCITS and open-ended AIFs, both benefiting from a specific exemption provided for by European legislation, instead apply another format of synthetic information document, the so-called Kiid (Key Investor Information Document), as prescribed by EU sector provisions.

Consob public statement n. 6 of 20 December 2022: audit and assurance engagements related to companies operating in the crypto-asset sector

To Audit firms and statutory auditors responsible for audit engagements of Public Interest Entities (PIEs) and Entities Subject to Intermediate Regime (ESRIs)

Watch for Scams! Abusive financial services: Consob blacks out 4 abusive websites

Consob has ordered the black-out of 4 new websites that offer financial services/financial products illegally: 3 illegal financial intermediation websites and 1 website through which an offer of financial products is carried out in the absence of a prospectus.

OECD: Published the updated edition of the Recommendation containing the High-Level Principles on Financial Consumer Protection approved by the G20 leaders

The OECD has published the updated edition of the Recommendation containing the High-Level Principles on Financial Consumer Protection approved by the G20 leaders.

Press release of 30 November 2022: ACF, the composition of the College has been renewed – On 12 December the new effective members (4...

Starting from next 12th December, the composition of the decision-making Board of the Securities and Financial Ombudsman (ACF), the body set up at CONSOB for the out-of-court settlement of disputes between savers and intermediaries, will change.

Approved the Regulation on the supervision of auditors and auditing entities from third countries and the derogations in case of equivalence (9 December 2022)

Following the consultation with the market (see "Consob Informa" no. 38/2022), the Commission approved the regulation implementing articles 35, paragraph 3 and 36, paragraph 4 of Decree no. 39/2010, regarding the supervision of third-country auditors and auditing entities and exemptions in the event of equivalence (Resolution no. 22538 of 6 December 2022).

Watch for scams! Abusive financial services: Consob blacks out 2 abusive websites (Press Release of 9 December 2022)

Consob has ordered the black-out of 2 new websites that offer financial services illegally.

Regulator Information

Recent Articles

SEC Division of Examinations Announces 2023 Priorities

Washington D.C., Feb. 7, 2023 — The Securities and Exchange Commission’s Division of Examinations today announced its 2023 examination priorities.

Prepared Remarks Before the Small Business Capital Formation Advisory Committee

Washington D.C. Feb. 7, 2023 Good morning. It is good to join the advisory committee for your first meeting of the year.

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