Policy for dealing with queries on institutional matters

bandiera italiana - sezione autorità trasparente

In its policy for dealing with queries on institutional matters raised by subjects external to the Commission, Consob has established new procedures for the definition of the subject raising the query, the times and procedures for investigations on the queries, in order to ensure suitable timing of the responses and correspondence with the activities put in place with CONSOB's institutional purposes regarding investor and market protection.

For this the procedures for submission - through standard forms - the examination and the response to the queries themselves were also redefined, even in the case of a lack of response to the query raised.

The faculty to raise queries is only available to parties responsible for the application of the sector rules under CONSOB's competence and the relevant trade associations, with the exclusion of other types of subjects. The queries themselves will have to respond to criteria such as: (a) connection with the discipline of competence, (b) topicality, (c) specificity and, finally, (d) absence of correlation with hypothesis of violations, excluding queries instrumental to legal action or referable to complaints lodged.

Through the answers given to queries raised by operators and supervised entities CONSOB intends to provide application guidelines in specific situations that can reduce uncertainty about the interpretation of the rules and resulting behaviours, helping to protect investors and the market.


 Policy for dealing with queries on institutional matters