Resolution no. 20232 of 20 December 2017

Determination pursuant to art. 40 of law no. 724/1994 of subjects obliged to contribute for the financial year 2018

LA COMMISSIONE NAZIONALE PER LE SOCIETÀ E LA BORSA
[THE NATIONAL COMMISSION FOR COMPANIES AND THE STOCK EXCHANGE]

Having regard to Law no. 216 of June 7 1974 and subsequent amendments and additions;

Having regard to Law no. 724 of December 23, 1994, and subsequent amendments and additions, which inter alia requires CONSOB to determine on a yearly basis the amount of contributions payable to it by the subjects supervised by it, for the purposes of its own financing;

Having regard to CONSOB’s Resolutions no. 19826 and no. 19827 of December 21, 2016, determining, pursuant to said Art. 40, the subjects obliged to contribute for the financial year 2017 and the amount of the contributions for the said financial year;

Considering the need to identify the subjects obliged to contribute for the financial year 2018;

HEREBY RESOLVES:

Article 1
Subjects obliged to contribute

1. The following subjects are obliged to pay CONSOB a contribution called ‘supervisory contribution’ for the financial year 2018:

a) securities brokerage firms, trust companies referred to in Art. 199, para. 2 of Legislative Decree no. 58/1998, authorised, as of January 3, 2018, to provide investment services and activities pursuant to Art. 1, para. 5, letters a), b), c), c-bis), d), e) and f) of Legislative Decree no. 58/1998;

b) EU investment firms with branches in Italy and non-EU investment firms with or without branches in Italy, authorised, as of January 3, 2018, to provide investment services and activities pursuant to Art. 1, para. 5, letters a), b), c), c-bis), d), e) and f) of Legislative Decree no. 58/1998;

c) Italian banks, the Poste Italiane company - BancoPosta Services Division pursuant to Art. 2, para. 1, letter f), of Italian Presidential Decree no. 144 of March 14, 2001; EU banks with branches in Italy and non-EU banks with or without branches in Italy, authorised, as of January 3, 2018, to provide investment services and activities pursuant to Art. 1, para. 5, letters a), b), c), c-bis), d), e) and f) of Legislative Decree no. 58/1998;

d) asset management companies pursuant to Art. 1, para. 1, letter o) of Italian Legislative Decree no. 58/1998, EU management companies with branches in Italy pursuant to Art. 1, letter o-bis) of Italian Legislative Decree no. 58/1998, EU alternative investment fund (EU AIF) managers with branches in Italy, pursuant to Art. 1, para. 1, letter p) of Italian Legislative Decree no. 58/1998, authorised, as of  January 3, 2018, to provide investment services and activities pursuant to Art. 1, para. 5, letters d), e) and f), of Italian Legislative Decree no. 58/1998;

e) financial intermediaries entered in the register provided for by Art. 106, para. 1 of Italian Legislative Decree no. 385/1993, authorised, as of January 3, 2018, under Art. 19, para. 4 of Italian Legislative Decree no. 58/1998, to provide the services and activities referred to in Art. 1, para. 5, letters a), b), c) and c-bis) of Italian Legislative Decree no. 58/1998;

f) stockbrokers entered, as of January 3, 2018, in the special register provided for by Art. 201, para. 5 of Italian Legislative Decree no. 58/1998;

g) asset management companies entered, as of January 3, 2018, in the register provided for by Art. 35, para. 1 of Italian Legislative Decree no. 58/1998; SICAVs and SICAFs entered, as of January 3, 2018, in the registers provided for in Art. 35-ter, para. 1 of Italian Legislative Decree no. 58/1998; collective investment undertakings subject, again at the same date of January 3, 2018, to the application of Articles 42, 43 and 44 of Italian Legislative Decree no. 58/1998;

h) Italian and foreign insurance companies that operate in the Italian Republic under the right of establishment or freedom to provide investment services and offer the financial products referred to in Art. 1, para. 1, letter w-bis) of Legislative Decree no. 58/1998;

i) financial advisors qualified for door-to-door selling entered, as of January 3, 2018, in the specific section of the register provided for by Art. 31, para. 4 of Legislative Decree no. 58/1998;

j) the subjects other than the Italian State, local bodies, foreign States and international authorities of a public nature, indicated hereinafter:

j1) Italian and foreign issuers (both EU and non-EU) that, as of January 3, 2018, had financial instruments admitted to trading in Italian regulated markets;

j2) issuers that, as of January 3, 2018, had financial instruments admitted to trading on EU regulated markets (other than Italian markets) with Italy as their home Member State;

k) issuers that have applied for or have authorised trading in Multilateral Trading Facilities managed by Italian banks, investment firms (‘SIMs’) or operators of Italian regulated markets subject to supervision pursuant to Regulation (EU) no. 596/2014;

l) issuers of financial instruments widely distributed among the public referred to in art 116 of Legislative Decree no. 58/1998 that, as of January 3, 2018, met the requirements for registration in the specific register provided for by Art. 108, para. 5 of CONSOB’s Regulation no. 11971/1999;

m) Subjects other than those specified under preceding letters g) and h), as follows:

m1) subjects that had sent the notice required in Articles 94, para. 1, or 102, para. 1, or 113, para. 1 of Legislative Decree no. 58/1998, but subsequently, the related administrative procedure concerning their prospectus – single or in three parts – or base prospectus or bid document, got extinguished between January 2, 2017, and January 1, 2018, before approval of the prospectus;

m2) subjects that sent the notice required in Art. 94, para. 1, or Art. 102, para. 1 of Legislative Decree no. 58/1998, received approval of their prospectus – single or in three parts – or base prospectus or bid document, but did not complete the related offering in the period between January 2, 2017, and January 1, 2018;

m3) subjects that completed a public offering for sale and subscription or a public exchange or purchase offer in the period between January 2, 2017, and January 1, 2018, and are therefore subject to the application of the provisions of Articles 97 or Art. 103, para. 2 of Legislative Decree no. 58/1998;

m4) subjects that have obtained the approval of their prospectuses for admission to the listing of financial instruments pursuant to Art. 113, para. 1 of Legislative Decree no. 58/1998, between January 2, 2017, and January 1, 2018;

m5) subjects that obtained admission to the trading of financial instruments following corporate integration operations (mergers or demergers) for which in the period between January 2, 2017, and January 1, 2018 CONSOB issued an opinion stating that the information contained in an already available document could be regarded as equivalent to that of the prospectus pursuant to Art. 57, para. 1, letter d) of CONSOB’s Regulation no. 11971/1999 (implementing Directive 2003/71/EC), and are therefore subject to the application of the provisions of Art. 114, para. 5, and Art. 115 of Legislative Decree no. 58/1998;

n) subjects entered, as of January 3, 2018, in the register provided for by Legislative Decree 39/2010, that as of the same date resulted to have been appointed – pursuant to the previously applicable laws and regulations – with the task of performing the statutory auditing of financial statements of Public Interest Entities.;

o) Borsa Italiana S.p.A.;

p) MTS S.p.A.;

q) Monte Titoli S.p.A.;

r) Cassa di Compensazione e Garanzia S.p.A.;

s) investment firms (‘SIMs’), Banks and Regulated Stock Exchange Companies authorised, as of January 3, 2018, to manage Multilateral Trading Facilities and Organised Trading Facilities referred to in Art. 1, para. 5, letters g) and g-bis) of Legislative Decree no. 58/1998;

t) systematic internalisers entered in the specific register provided for by Art. 22, para. 1 of CONSOB’s Regulation no. 16191/2007, validly applicable as of January 3, 2018;

u) operators of foreign regulated markets applying for recognition in Italy pursuant to Art. 70, para. 1 of Legislative Decree no. 58/1998;

v) the managers of crowdfunding portals for small-and medium-sized companies entered as of January 3, 2018, in the register referred to Art. 50 - quinquies, para. 2 of Legislative Decree no. 58/1998;

w) managers of services for the disclosure of regulated information and managers of regulated information storage devices authorised pursuant to Art. 113-ter, para. 4 of Legislative Decree no. 58/1998, entered, as of January 3, 2018, in the specific registers provided for by Art. 116-septies, para. 3, and Art. 116-undecies, para. 3, of CONSOB’s Regulation no. 11971/1999;

x) data communication service providers entered, as of January 3, 2018, in the register referred to in art 79-bis, para. 4 of Legislative Decree no. 58/1998;

y) the Body of Financial Advisors referred to in Art. 31, para. 4 of Legislative Decree no. 58/1998

Article 2
Final provisions

1. This measure shall be published in the Official Journal of the Italian Republic^[1] as well as in CONSOB's Bulletin.

THE DEPUTY CHAIRMAN
Anna Genovese

^[1] Published in the Official Gazette of the Republic n. 23 of 29.1.2018.