Contribution system - CONSOB AND ITS ACTIVITIES
Consob manages the expenses needed for its functioning in autonomy on the basis of an annual budget approved by the Commission. Its annual accounts must be approved each year by 30 April and they are audited by the State Audit Office.
Since 1995 the funding of Consob has been managed through both a specific allocation from the central government budget and, partly, through fees collected directly from markets and market participants for the activities carried out by the Authority.
By 31 July of each year Consob discloses to the Minister of the Economy (Mef) of its funding requirements and forecast revenues for the following year. On the basis of this information the Minister of the Economy sets the annual budget contribution.
Consob fixes the types and amounts of fees in resolutions which are made effective by a decree signed by the President of the Council of Minister after checking their legitimacy and consulting the Minister of the Economy.
The fee schedule for the 2023 financial year has been established in a single Resolution no. 22554 of 22 December 2022 which also lays down the time limits and procedures for paying fees. Subsequently the usual terms for payment were modified with Resolution no. 22624 of 8 March 2023.