Resolution 17297

Provisions relating to authorised intermediaries’ requirements on the communication of data and information and the transmission of records and documents.

THE ITALIAN COMPANIES AND STOCK EXCHANGE COMMISSION (CONSOB)

HAVING REGARD TO Law 1974/216 as amended;

HAVING REGARD TO Legislative Decree 1998/58 as amended;

HAVING REGARD TO Article 8, paragraph 1, of the aforementioned Legislative Decree 1998/58, that gives Consob the power to require authorised intermediaries, within the scope of its own competences, to communicate data and information and transmit records and documents;

HAVING REGARD TO Article 25-bis, paragraphs 1 and 2, of the Legislative Decree 1998/58, which, with reference to the subscription and placement of financial products issued by banks and insurance companies, gives Consob the powers set out in Article 6, paragraphs 2 and 2-bis, points d), e), i), j), l), m) and n), Article 7, paragraph 1, Article 8, paragraphs 1 and 2, and Article 10, paragraph 1, of the Legislative Decree 1998/58 towards authorised intermediaries and insurance companies;

HAVING REGARD TO Article 1, paragraph 1, point w-bis, of the Legislative Decree 1998/58, which defines "financial products issued by insurance companies" as the policies and transactions in life insurance branches III and V pursuant to Article 2, paragraph 1, of the Legislative Decree 2005/209, with the exception of individual pension plans pursuant to Article 13, paragraph 1, point b), of the Legislative Decree 2005/252;

HAVING REGARD TO Article 31, paragraph 1, of the Legislative Decree 1998/58, which states that financial advisors working for EU and non-EU investment firms, harmonised management companies, EU and non-EU banks, are considered as a branch established in Italy as far as the rules of conduct are concerned;

HAVING REGARD TO Article 17 of the Legislative Decree 1998/58, that gives Consob the power to require Italian investment firms, asset management companies and investment companies to provide shareholders’ names on the basis of the shareholders' register, communications received and other available information;

HAVING REGARD TO Article 201, paragraph 12, of the Legislative Decree 1998/58, which states that Article 8, paragraph 1, of that Legislative Decree shall apply to stockbrokers;

HAVING REGARD TO Presidential Decree 2001/144, which provides for rules concerning investment services carried out by Poste Italiane s.p.a.;

HAVING REGARD TO its Regulation 2007/16190, implementing the provisions on intermediaries of Legislative Decree 1998/58;

HAVING REGARD TO the joint Regulation adopted by Bank of Italy and Consob on 29 October 2007 concerning the organization and procedures of intermediaries providing investment services and the collective investment management service;

HAVING REGARD TO the Protocol of Understanding between Bank of Italy and Consob signed on 31 October 2007 pursuant to Article 5, paragraph 5-bis, of the Legislative Decree 1998/58;

HAVING REGARD TO the Protocol of Understanding between Bank of Italy and Consob signed on 8 September 2009 to regulate data exchange between the two Authorities;

HAVING REGARD TO the Resolution 2003/14015, concerning the authorised intermediaries and stockbrokers’ requirements on the communication of data and information and the transmission of records and documents;

WHEREAS the above-mentioned resolution 2003/14015 needs to be recast;

RESOLVES:

1. The authorised intermediaries’ requirements on the communication of data and information and the transmission of records and documents are approved according to the terms and procedures set out in Annex "Manual on information requirements for supervised intermediaries".

2. This Resolution is to be published in the Gazzetta Ufficiale della Repubblica Italiana⁽¹⁾ and in the Consob Bulletin and shall enter into force on 1 July 2010. 

3. Consob Resolution 2003/14015 is hereby repealed from 30 June 2010. 

4. Transitional provisions is to be applied according to the rules set out in Annex "Table relating to Transitional Provisions" from 1 July 2010.

Rome, 28 April 2010

THE CHAIRMAN
Lamberto Cardia

________________________
Note:

1. Please refer to S.O. no. 104, "Official Gazette of the Italian Republic" no. 120 of 25 May 2010.  Resolution no. 17297 of 28.4.2010 was subsequently amended with resolution no. 19548 of 17.3.2016, published in the Official Gazette n. 69 of 23 March 2016 and in CONSOB Fortnightly Bulletin no. 3.2, March 2016; in force from the day following its publication in the Official Gazette; with resolution 20197 of 22.11.2017, published in the S.O. n. 57 to the Official Gazette n. 281 of 1.12.2017, which replaced the Manual of disclosure obligations for supervised entities ", the amendments of which apply from 1 January 2018, with the exception of the provisions of the resolution itself; with resolution no. 20841 of 7 March 2019, published in the Official Gazette n. 62 of 14.3.2019 and in CONSOB Fortnightly Bulletin no. 3.1, March 2019; in force from the day following its publication in the Official Gazette; with resolution no. 21773 of 25 March 2021, published in the Official Gazette n. 80 of 2.4.2021 and in CONSOB Fortnightly Bulletin no. 3.2, March 2021; in force from the day following its publication in the Official Gazette.