The Plan of activities for the adoption of general regulatory acts and for the periodic review of regulations and other acts of general content for the year 2021 (or the "2021 Plan") has been published.

Article 2 of Consob's "Regulation on procedures for the adoption of general regulatory acts" (Resolution no. 19654 of 5 July 2016) in fact prescribes that, for the effective and efficient pursuit of its objectives, Consob should annually define a "non-binding planning document, containing the plan of activities it intends to carry out for the adoption of the general regulatory acts and for the periodic review provided for in Article 8". In particular, for the purposes of the planning in question, Consob must take account:

• of superior regulatory sources, including European Union law, to be transposed or implemented by its own acts of general regulation;
• of the commitments assumed in national and international fora for cooperation between financial market supervisory authorities;
• of the results of the periodic review activity previously carried out pursuant to the aforementioned Article 8;
• of the need to undertake the periodic review of the regulations prescribed in Article 8;
• of any indications and proposals received from supervised entities, investors, savers and associations representing such entities.

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