Advertising activity relating to the offer / admission to trading in Italy

Advertising activity relating to the offer / admission to trading in Italy

Operating instructions for the filing of advertising documentation concerning an offer and/or admission to trading in Italy

These operating instructions govern, pursuant to Article 101, paragraph 1, of the TUF and Article 34-octies, paragraph 01, of the Issuers' Regulation, the procedures for submitting advertising documentation to Consob via the new DePub web interface, available at the following address, starting from September 1, 2025: https://www.sai.consob.it/msgpubbwebfe/.

  1. Consob approval procedure and concurrent filing;
  2. where approval is not required (i.e. Italian UCITS), filing with Consob according to the provisions provided;
  3. passporting to Italy by other EU Authorities.

Supervised entities are recommended to use the new system during the transitional period which ends on 31 December 2025. In the case of difficulties accessing the system and/or transmitting documents/files through the DePub system, if the issue is not resolved with the help desk, supervised entities may submit documentation via the certified email address consob@pec.consob.it and the email address protocollo@consob.it.

At the end of the transitional period (i.e. from January 1, 2026), advertising material shall be transmitted to Consob exclusively via the DePub system.

Therefore, starting from that date, the DePub web interface replaces all previous methods for the filing of advertising material, including paper-based ones.

All supervised entities, both Italian and foreign, as well as entities delegated by them, can use the System, provided they are accredited with Consob with a "distributor of advertising material" profile.

Users who already have valid credentials for the Remote Collection and Filing system will be able to use a simplified registration procedure available at the following address: https://www.sai.consob.it/sireg-porting/.

Such a method is preferable where possible, as the users activated in this way will be immediately operational.

Conversely, new users who do not have such credentials will be required to use the general procedure and undergo a Consob issuing process.

This last general procedure is available at: https://www.sai.consob.it/sireg-registration/.

Once the user has accessed the indicated web page, they will be able to download a detailed guide for using the registration and credentials management procedure (SIReg).

In case of problems using the registration procedure, users can issue a support request for assistance to the following e-mail address: sistemacredenziali@consob.it

For any further operational details on using the DePub web interface, please consult the user manual available at the link below and within the application itself.

Useful links: