Consob has decided today (Resolution no. 21300 of 12 March 2020 - only Italian version) to suspend the procedure-related terms of the ongoing sanction proceedings until April 3, next.
The decision was taken with reference to the measures taken by the Italian Government in recent days to deal with the Coronavirus emergency.
The goal is to guarantee to the recipients of a sanctioning procedure the full right of participation to the procedure itself, for the period of their interlocution with the Offices and the Commission. The limitations in force as a result of the measures taken by the Government, aimed at contrasting the spread of Coronavirus could, in fact, slow down and partially compromise the participation in the proceeding.
Consob has similarly decided to also suspend (Resolution no. 21299 of 12 March 2020 - only Italian version) the terms of the proceedings under way at the Arbitrator for financial disputes (ACF), the out-of-court settlement body for disputes between savers and intermediaries, set up at Consob. The suspension has been issued until March 22nd next. Any extensions will be promptly communicated.