Consob has submitted for market consultation a number of amendments to its provisions on securitisations, issued in implementation of the Consolidated Law on Finance (Article 4-septies.2).

In light of the evidence gathered following an initial period of application of the Consob Provisions, amendments are proposed that are essentially aimed at reducing the burdens on operators, particularly in cases where they are required to report on securitisation transactions not only to Consob but also to the prudential authorities.

Among the most significant changes:

• the extension of the deadline for notifying securitisation transactions to one month from the date of issue, compared with the current 5 and 15 days respectively for simple, transparent and standardised ('STS') securitisations and for nonstandardised securitisations. This proposal aligns the notification deadlines to Consob with those set by the prudential authorities, facilitating a unified management of the notification obligations incumbent on banks involved in STS securitisation transactions;
• the introduction, for significant banks, of the possibility to submit certificates of compliance with the Securitisation Regulation signed by persons delegated by the management body.

Other proposed amendments aim to refine the content of the Consob Provisions, in line with current provisions in the FAQs, for example regarding the possibility of delegating the task of transmitting information to Consob to the servicer of the securitisation transaction.

Comments on the consultation paper must be received online by Consob no later than 27 April 2026, via the Integrated System for External Users (SIPE).