Role and activity

Testo di esempio

Consob is the Italian authority responsible for regulating and supervising financial markets. Established in 1974, it promotes market transparency, fair conduct by market participants and investor protection.

Its activities contribute to the proper functioning and competitiveness of the financial system, also through cooperation with national and European authorities, including the Bank of Italy, IVASS and COVIP.

Investor protection represents one of the fundamental objectives established under Article 47 of the Italian Constitution.

Consob institutional functions

Market supervision
Supervises financial markets, market transparency and the conduct of market participants, in order to safeguard the proper functioning of the financial system.
Investor protection
Promotes clear and accurate information, combats unfair practices and strengthens investor confidence in financial markets.
Regulation
Contributes to the definition and implementation of financial market regulation, in line with the European and international framework.
Enforcement and sanctions
Detects violations and adopts sanctioning measures in the cases provided for by law.

How we operate

​​​CONSOB carries out its activities through:

  • authorisation and supervision of market participants
  • supervision of issuers and financial products
  • coordination with national and European authorities
  • promotion of transparency and financial education.

Institutional history and identity

Since its establishment, Consob has evolved alongside the Italian financial markets, adapting its tools, expertise and organisational structure to economic, regulatory and technological change, while maintaining its commitment to independence and public service.

see also