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Memorandum of understanding for the strengthening of cooperation in the field of issuers (Joint press release Consob - Bank of Italy of 27 February 2024)

The Commissione Nazionale per le Società e la Borsa and the Bank of Italy have signed a Memorandum of Understanding to strengthen their cooperation with regard to issuers supervised by Consob that fall, at the same time, within the Bank of Italy's direct supervisory perimeter.

Also taking into account the macroeconomic environment and market developments, the Protocol provides for the two authorities to exchange a broad set of information regarding, in particular, prudential supervision, anti-money laundering supervision and crisis management, by the Bank of Italy, as well as that deriving from the supervisory activities that Consob carries out regarding ownership structure, governance, financial and non-financial information, and on the entities in charge of the statutory audit.

The agreement also provides for cooperation in the area of inspection and the exchange of communications and information when Consob initiates proceedings for the approval of prospectuses (or documents for exemption from the prospectus publication requirement) and documents relating to takeover and/or exchange offers involving entities supervised by the Bank of Italy.

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