News of the week:
Chiara Mosca takes on the role of Acting Chair of Consob
A collaboration agreement has been signed to foster cooperation between Consob and Anac
Watch for scams! Financial fraud: Consob blocks 3 websites
Financial education: Global Money Week will be held from 16 to 22 March 2026

Consob's decisions of the week

- NEWS OF THE WEEK -

From Monday 9 March, Chiara Mosca, the longest-serving Commissioner at the Institute, takes over as Acting Chair, replacing Paolo Savona, whose seven-year term ended on 8 March.

Mosca, who is an associate professor of commercial law at Bocconi University in Milan, has been a Consob Commissioner since 7 September 2021, having been appointed by the government led by Mario Draghi. She will serve as Acting Chair until the new Chair takes office.

To mark the end of Savona's term of office, which began on 8 March 2019, a volume has been published containing the speeches he gave at the seven annual meetings with the financial market from 2019 to 2025.

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Cooperation between Consob and Anac, within the scope of their respective competences in the field of market transparency and corruption prevention, through the joint exchange of information, opinions, consultations and data. This is the objective of the Memorandum of Understanding signed between the Financial Markets Supervisory Authority and the Anti-Corruption Authority.

"ANAC and Consob perform complementary functions, pursuing converging interests for the proper fulfilment of disclosure obligations by entities subject to their respective supervision, both in application of the regulations on public procurement, transparency and anti-corruption, and in application of the regulations on financial markets, with mutual benefit to the interests protected by both," said ANAC President Giuseppe Busìa. "This convergence of interests provides an opportunity to establish a functional collaborative relationship to pursue their respective institutional mandates more effectively. Hence the importance of the Protocol signed today."

"The Memorandum of Understanding signed by ANAC and Consob," said Consob Chairman Paolo Savona, "represents a new step in the collaboration between the institutions, which is essential for ensuring transparency and fairness in their respective areas of supervision. The exchange of information and technical discussions will ensure more timely and consistent action, benefiting market integrity and the prevention of corruption. The agreement consolidates a working method of the Commission based on coordination and complementarity with administrations and institutions not necessarily within the financial perimeter, with the aim of creating the conditions for joint initiatives and more effective protection of the interests entrusted to the respective authorities."

The agreement aims to support collaboration, including through requests for opinions and mutual consultation on matters of common interest, including listed public companies; the tion of collaboration in dissemination activities, scientific initiatives and staff training.

The joint technical committee, provided for in the Protocol, will ensure the coordination of activities of common interest, including through the sharing of information on respective initiatives of mutual interest and the establishment of specific working groups; it will examine technical issues relating to the implementation, amendment and integration of the Protocol; it will promote further activities and forms of collaboration deemed necessary and/or useful for the achievement of the Protocol's objectives.

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Consob has ordered the blocking of three new websites that offered investment services without authorisation.

The following are the websites that Consob has ordered to be shut down:

- 'IG Group 24' (website https://iggroup24.life and related page https://my.24igg.to);

- "Mont Blanc Investment Ltd" (website https://montblancltd.com and related page https://client.montblancltd.com);

- "Activ Markets" (website https://activmarkets.org and related page https://webtrader.ac-markets-webtraderplatform.org).

This brings the total number of websites blocked by Consob since July 2019, when the Authority was given the power to order the blocking of websites of abusive financial intermediaries, to 1,588.

The Authority has exercised the powers conferred upon it by the "Growth Decree" (Law No. 58 of 28 June 2019, Article 36, paragraph 2-terdecies) to block access to the websites of illegal financial intermediaries.

The measures adopted by Consob are available on the website www.consob.it. Internet connectivity providers operating in Italy are currently working to block access to the websites. For technical reasons, it may take a few days for the blocking to take effect.

It is important that savers exercise the utmost diligence in making fully informed investment choices, adopting common sense behaviours that are essential for safeguarding their savings: these include checking in advance, for websites offering investment and crypto-asset services, that the operator through which you are investing is authorised and, for financial and crypto-asset product offerings, that the prospectus or white paper has been published.

Consob also draws attention to the evolution of deceptive practices that exploit the internet to steal users' money and personal data: there has been an increase in the use of new tools, such as e-mail messages and 'cloned' websites, fake profiles of politicians, famous people and content generated with artificial intelligence systems - such as images, voices or videos - with the aim of inducing savers to make harmful investment choices.

To this end, Consob invites savers to read the information sheet containing advice on how to protect themselves from financial fraud in the age of artificial intelligence and reminds them that its website has a section entitled 'Watch for scams!', which provides useful information to warn investors against abusive financial initiatives.

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Global Money Week 2026, an international campaign to raise awareness of financial, insurance and pension education among young people, will kick off on 16 March.

Global Money Week is an annual initiative promoted by the OECD with the aim of raising awareness among the younger generation of the importance of sound financial skills for making responsible decisions. Since 2012, the event has involved over 70 million young people in 176 countries. In Italy, the organisation and coordination of activities is entrusted to the Committee for the Planning and Coordination of Financial Education Activities (Comitato Edufin).

The theme of this edition is 'Smart money talks'. Young people often find themselves faced with financial choices but are not always comfortable talking about money. Sharing experiences and asking the right people questions, together with a good understanding of finance, insurance and social security, can help them develop skills, avoid mistakes and build healthy habits to achieve financial well-being.

The first event in which Consob will be present is scheduled for 17 March in Novara, where a conference-show on sustainability will be held at Uni Piemonte Orientale (Novara): 'A few words on sustainability'. Consob and the scientific dissemination company Taxi 1729 will talk about sustainability and offer investors a basic glossary to help them navigate the world of sustainable finance.

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- The authorisation granted to Rendimento Etico Srl to provide crowdfunding services pursuant to Article 2, paragraph 1, letter a) sub i) of Regulation (EU) 2020/1503 has been revoked due to express renunciation (Resolution No. 23893 of 4 March 2026).

Order, pursuant to Article 7-octies, letter b), of Legislative Decree No. 58 of 24 February 1998 (Consolidated Law on Finance – TUF) to put an end to the violation of Article 18 of the same TUF, committed by:

- IG Group 24 through the website https://iggroup24.life and the related page https://my.24igg.to (Resolution No. 23898 of 4 March 2026);

- Mont Blanc Investment Ltd through the website https://montblancltd.com and its page https://client.montblancltd.com (resolution no. 23897 of 4 March 2026);

- Activ Markets via the website https://activmarkets.org and the related page https://webtrader.ac-markets-webtraderplatform.org (resolution no. 23896 of 4 March 2026).

- The Head of Consob's Intermediary Supervision and Investor Protection Division accepted the request for revocation due to the express renunciation by PGIM Limited of the authorisation issued pursuant to Article 28, paragraph 6, of Legislative Decree No. 58 of 24 February 1998, for placement services without irrevocable commitment to the issuer and portfolio management referred to in Article 1, paragraph 5, letters c-bis) and d) of the same decree, with the consequent removal of the company from the register of third-country firms other than banks referred to in Article 20, paragraph 1 of the same decree. The full text of Executive Decision No. 158 of 3 March 2026 is available on the website www.consob.it.

- The Head of Consob's Intermediary Supervision and Investor Protection Division has confirmed the registration of Euclidea Sim Spa under its new name, Fürstenberg Sim Spa, in the register referred to in Article 20, paragraph 1, of Legislative Decree No. 58 of 24 February 1998. The full text of executive decision no. 1529 of 5 March 2026 is available on the website www.consob.it.

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