Resolution 19460⁽¹⁾

Determination, pursuant to Article 40 of Law 724/1994, of the persons required to pay fees for the 2016 fiscal year

THE ITALIAN COMPANIES AND STOCK EXCHANGE COMMISSION (CONSOB)

Having regard to Law 216 of 7 June 1974 as amended;

Having regard to Article 40 of Law 724 of 23 December 1994 as amended, which, inter alia, provides for Consob, with a view to its funding, to determine each year the amount of the fees it is to be paid by the persons subject to its supervision;

Having regard to Consob Resolutions no. 19086 and no. 19087 dated 23 December 2014 which provided, pursuant to aforementioned Article 40, respectively persons required to pay fees for year 2015 and the amount of the fees for the same year;

Whereas it is necessary to determine for the 2016 fiscal year the persons required to pay fees;

RESOLVES

Article 1
Persons required to pay fees

1. The following are required to pay Consob a "supervision fee" for the 2016 fiscal year:

a) SIMs, including those entered in the special section of such register provided for in Article 60.4 of Legislative Decree 415/1996, authorised on 2.1.2016 to engage in investment services and activities referred to in Article 1.5 a), 1.5 b), 1.5 c) and 1.5 c-bis), 1.5 d), 1.5 e) and 1.5. f) of Legislative Decree no. 58/1998;

b) EU investment companies having its registered office in Italy and non EU investment companies authorised on 2.1.2016 to engage in investment services and activities referred to in Article 1.5 a), 1.5 b), 1.5 c) and 1.5 c-bis), 1.5 d), 1.5 e) and 1.5. f) of Legislative Decree no. 58/1998;

c) Italian banks, Poste Italiane – Division Services BancoPosta referred to Article 2.1 f), of Presidential Decree 144/2001, EU banks having its registered office in Italy and non-EU banks (with or without branches in Italy), authorised on 2.1.2016 to engage in investment services and activities referred to in Article 1.5 a), 1.5 b), 1.5 c) and 1.5 c-bis), 1.5 d), 1.5 e) and 1.5. f) of Legislative Decree no. 58/1998;

d) Asset management companies referred to in Article 1.1 o) of Legislative Decree no. 58/1998, EU management companies having its registered office in Italy referred to in Article 1.1 o-bis) of Legislative Decree no. 58/1998, EU AIF managers having its registered office in Italy referred to in Article 1.1 p) of Legislative Decree no. 58/1998, authorised on 2.1.2016, to engage in investment services and activities referred to in Article 1.5 d), 1.5 e) and 1.5 f) of Legislative Decree no. 58/1998;

e) Financial intermediaries entered, on 2.1.2016, in the special register referred to in Article 107.1 of Legislative Decree 385/1993, authorised, under Article 19.4 of Legislative Decree 58/1998, to engage in investment services and activities referred to in Article 1.5 a), 1.5 b), 1.5 c) and 1.5 c-bis) of Legislative Decree no. 58/1998;

f) Stockbrokers entered on 2.1.2016 in the single National roll referred to in Article 201.5 of Legislative Decree no. 58/1998;

g) Asset management companies entered on 2.1.2016 in the register referred to in Article 35.1 of Legislative Decree no. 58/1998, SICAVs and SICAFS entered, at the same date of 2.1.2016, in the register referred to in Article 35.ter.1 of Legislative Decree no. 58/1998 and collective investment undertakings, at the same date of 2.1.2016, subject to Articles 42, 43 and 44 of Legislative Decree no. 58/1998;

h) Insurance companies authorised, on 2.1.2016, to operate in the sectors on Life III and/or V according to Article 2, subsection 1, of Legislative Decree no. 209/2005;

i) Financial advisors authorised to make off-premises offer entered on 2.1.2016 in the register referred to in Article 31.4 of Legislative Decree no. 58/1998⁽²⁾;

j) Persons - other than the Italian government, local government, foreign governments and international organizations of a public nature – as follow:

j1) Italian or foreign issuers (EU and non-EU) that, on 2.1.2016, issue financial instruments admitted to trading on Italian regulated markets;

j2) Issuers that, on 2.1.2016, issue financial instruments admitted to trading on any EU regulated markets (different from Italian regulated markets) and who have adopted Italy as the home Member State;

k) Issuers of financial instruments widely-distributed among the public referred to in Article 116 of Legislative Decree no. 58/1998, that on 2.1.2016, meeting the characteristics for the admission in the special list provided by Article 108.5 of Consob Regulation no. 11971/1999;

l) Persons - other than those referred to in subparagraphs g) and h) – that:

l1) requesting approval for a public offering for subscription and sales and/or asking admission to trading of financial instruments or a takeover bid and/or an exchange tender offer, have filed to Consob the disclosure in accordance with Article 94.1 or Article 102.1 or Article 113.1 of Legislative Decree no. 58/1998, but the preliminary proceeding relating the offering prospectus – as a complete prospectus or as separates documents – either of the base prospectus either of the bid document, has been closed, in the period between 2 January 2015 and first January 2016, before its approval;

l2) having the intention to promote a public offering for subscription and sales and/or admission to trading of financial instruments or a takeover bid and/or an exchange tender offer, have transmitted to Consob the disclosure in accordance with Article 94.1 or with Article 102.1 of Legislative Decree no. 58/1998, and have obtained the approval of the offering prospectus – as a complete prospectus or as separates documents – either of the base prospectus either of the bid document, but have not completed, between 2 January 2015 and first January 2016, the public offering and/or the takeover bid and/or the exchange tender offer;

l3) having completed a public offering of financial instruments or a takeover bid and/or an exchange tender offer in the period between 2 January 2015 and first January 2016, are subject on 2.1.2016, to Article 97 or Article 103.2 of Legislative Decree no. 58/1998;

l4) have received the approval of the prospectus for the admission to trading of financial instruments in accordance with Article 113.1 of Legislative Decree no. 58/1998 in the period between 2 January 2015 and first January 2016;

l5) having received the admission to trading of financial instruments in connection with a merger or spin-off after the approval of the judgement of equivalence on the document containing information which is regarded as being equivalent to that of the prospectus in accordance with Article 57.1 par. d), of Consob Regulation no. 11971/1999 (implementing provisions adopted in the Directive 2003/71/EC) in the period between 2 January 2015 and first January 2016, are subject on 2.1.2016, to Article 114.5, Article 114.6 and Article 115 of Legislative Decree no. 58/1998;

m) Persons entered, on 2.1.2016, in the register referred to in Legislative Decree no. 39/2010 that at the same date perform statutory auditing on financial statement of public entities;

n) Borsa Italiana s.p.a.;

o) MTS s.p.a.;

p) Monte Titoli s.p.a.;

q) Cassa di Compensazione e Garanzia s.p.a.;

r) SIMs, banks and market management company authorised, on 2.1.2016, to manage multilateral trading systems referred to in Article 1.5 g) of Legislative Decree no. 58/1998;

s) Systematic internaliser that are entered in the list published pursuant to Article 22.1 of Consob Regulation no. 16191/2007, in force on 2.1.2016;

t) Stock exchange companies of foreign markets for financial instruments (non EU countries) that intend to apply for recognition of the markets in Italy in accordance with Article 67.2 of Legislative Decree no. 58/1998;

u) Managers of portals for the collection of capital entered in the subsections of the special register hold by Consob, referred to art. 50-quinquies.2 of Legislative Decree no. 58/1998, at the date of 2.1.2016;

v) Managers of disclosure services for regulatory information and managers of centralised archive services for regulatory information authorised pursuant to Article 113-ter.4 of Legislative Decree no. 58/1998 and entered on 2.1.2016 in the special lists referred to in Article 116-septies.3 and 116-undecies.3 of Consob Regulation no. 11971/1999;

w) Regulatory Body of financial advisors referred to in Article 31.4 of Legislative Decree no. 58/1998.⁽³⁾

Article 2
Final provisions

1. This resolution shall be published in the Gazzetta Ufficiale della Repubblica Italiana⁽⁴⁾ and Consob's Bulletin.

December 16, 2015

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Footnote:

1. Given effect by a decree issued by the Prime Minister on January 13, 2016.

2. Paragraph amended by resolution no. 19548 of 17.3.2016 which replaced the words: "financial salemen" with the words "financial advisors authorised to make off-premises offer".

3. Paragraph amended by resolution no. 19548 of 17.3.2016 which replaced the words: "Body of financial salemen" with the words "Body of financial advisors".

4. Published in the Official Gazette no. 22 of 28.01.2016. Resolution no. 19460 of 16.12.2015 was modified by resolution no. 19548 of 17.3.2016, published in the Official Gazette n. 69 of 23 March 2016 and in CONSOB Bulletin Fortnight. 3.2, March 2016; into force from the day following its publication in G.U.