CONSOB is an acronym for the Commissione Nazionale per le Società e la Borsa, which is the Italian regulatory authority responsible for the supervision and regulation of the financial markets, companies, and investments in Italy. In English, it is translated as the National Commission for Companies and the Stock Exchange.
CONSOB was established in 1974 and operates as an independent and autonomous body under the direction of the Ministry of Economy and Finance. Its main objective is to protect investors and ensure the transparency, integrity, and efficiency of the Italian financial markets. CONSOB also aims to prevent market abuse, promote fair competition, and maintain the stability and competitiveness of the Italian securities markets.
The authority has extensive powers and responsibilities, including regulating and supervising companies, financial intermediaries, and investment services providers operating in Italy. It oversees the functioning of the stock market, monitors financial information disclosures, approves prospectuses for public offerings, and enforces compliance with relevant laws and regulations. CONSOB is also responsible for authorizing investment firms, auditing companies, and other entities operating in the financial sector.
CONSOB plays a vital role in maintaining confidence and trust in the Italian financial markets by safeguarding investors' interests and maintaining the integrity of the securities industry. Its regulatory actions and enforcement efforts help ensure a fair, transparent, and efficient marketplace for both domestic and international investors.
