Consob and the Bank of Italy submit the draft Supervisory Guidelines for Simple Investment Companies (Società di Investimento Semplice, SiS) for public consultation.

To facilitate the uniform and correct application of the new regulation, the joint communication contains a survey of the main provisions applicable to the SiS, defines some supervisory guidelines, which represent the expectations of Consob and the Bank of Italy on how the SiS will have to comply with the new regulations, indicates the procedure to be applied in the event of non-temporary exceeding of the equity limit of Article no. 1, paragraph 1, letter i-quater, of the Consolidated Law on Finance (TUF).

Comments can be sent within 90 days from the date of publication of the document for consultation (29 July 2020).

Joint Consultation Document Consob-Bank of Italy of 30 April 2020 (only Italian version)