Contribution System

Consob manages its operating expenses autonomously on the basis of an annual budget approved by the Commission. Its annual accounts have to be approved by 30 April of each year and are audited by the State Audit Office.

Since 1995 Consob has been funded partly through a specific allocation from the central government budget and partly through fees collected directly from markets and market participants for the activities it carries out.

By 31 July of each year Consob informs the Minister of the Treasury of its funding needs and forecast revenues for the following year. On the basis of this information the Minister of the Treasury sets the annual budget allocation.

Consob fixes the types and amounts of fees in resolutions rendered effective by a decree signed by the Prime Minister after checking their legitimacy and consulting the Minister of the Treasury.

The fee schedule for the 2017 financial year has been established in Resolutions 19826 and 19827 of 21 December 2016. In addition, Resolution 19828 of 21 December 2016 lays down the time limits and procedures for paying fees.