The Bank of Italy and Consob have signed a new memorandum of understanding on the exchange of information on banks that make public offers relating to debt securities (so-called 'infobond' ). The new MoU replaces the one signed by the two Authorities in 2012.
The revision of the 2012 agreement was made necessary following the regulatory changes that have occurred in the meantime, including the implementation of the new European framework on prudential matters (CRD IV / CRR) as well as the new EU legislation on prospectuses (EU Regulation 2017/1129).
The agreement concerns the coordination between the Bank of Italy and Consob in the exercise of supervisory functions and the exchange of information in the context of the procedures concerning banks subject to the direct supervision of the Bank of Italy and concerning the prospectus to be publish for the offer or admission to trading of debt securities on a regulated market; strengthens cooperation between the two authorities by expanding the information shared.
The document can be consulted on the websites www.bancaditalia.it and www.consob.it.