CONSOB is the supervisory authority for the Italian financial products market; its aims are to protect investors and the efficiency, transparency and development of the market.
To this end:
- it regulates the provision of investment services and activities by intermediaries, the reporting obligations of companies listed on regulated markets and appeals for public investment;
- it monitors market management companies and the transparency and orderly performance of negotiations, as well as the transparency and correct nature of the conduct of intermediaries and approved persons;
- it sanctions the entities monitored;
- it checks the information disclosed to the market by entities launching appeals for public investment and information contained in the accounting documents of listed companies;
- it ascertains any anomalous trends in the trading of listed securities and takes all other action necessary to verify violation of regulations on insider trading and market abuse;
- it communicates with operators and investors with a view to providing a more effective service and to develop the financial awareness of investors;
- it cooperates with the other domestic and international authorities appointed to organise and operate financial markets.