Prospectuses for equity and non-equity securities: new Pr.I.M.E. IT system to go live on 15 June 2026. Requirement to file approved prospectuses with Consob abolished

 

The new Pr.I.M.E. prospectus IT system, the Prospectus Integrated Management Environment, will go live on 15 June 2026. Pr.I.M.E. is the single platform for managing the review procedures for prospectuses and supplements relating to equity and non-equity securities and for transmitting them to the European Securities and Markets Authority. It will replace the current Siproem and Deproem systems, which will therefore no longer be operational.

Pr.I.M.E. will be accessible with new credentials, which may be requested by following the instructions available on the dedicated page. Ongoing review procedures will be automatically migrated to the new system.

To allow this migration, the old systems will not be available on Friday, 12 June 2026. Any communications that cannot be postponed may be sent by certified email to consob@pec.consob.it.

As of 15 June 2026, the new provision of Article 9, paragraph 1, of the Issuers’ Regulation will also enter into force. This provision abolishes the requirement to file with Consob approved prospectuses and supplements relating to equity and non-equity securities, pursuant to Consob Resolution No. 23979 of 14 May 2026.

Following the abolition of the filing requirement, the latest version of the prospectus or supplement submitted to Consob through the Pr.I.M.E. system for approval purposes will be the version that, once approved, Consob will transmit to the European Securities and Markets Authority.

This latest version of the prospectus or supplement must include:

  • the approval date, as indicated by the competent Office
  • all the required metadata needed for transmission to the European Securities and Markets Authority

The filing requirement remains in place for prospectuses and supplements relating to closed-end collective investment undertakings. Following approval by Consob, these documents will continue to be filed through the Deprof system, the single system for acquiring offering documentation for investment funds, which also serves as the basis for fulfilling notification obligations to the European Securities and Markets Authority.

As of 15 June 2026, the exemption documents indicated on the dedicated page may also be submitted to Consob through the Pr.I.M.E. system.

1 June 2026