Commissione Nazionale per le Società e la Borsa
The Commissione Nazionale per le Società e la Borsa (usually abbreviated Consob or CONSOB ) is the Italian stock exchange supervisory authority . The main and administrative headquarters of Consob are in Rome , the second official headquarters at the Italian stock exchange in Milan .
Tasks and organization
The most important tasks of Consob as a regulatory authority include investor protection , the definition and monitoring of reporting and publication obligations ( securities prospectus ), monitoring of securities trading and the actors involved, and in particular the prevention of insider trading .
In contrast to Germany and some other countries, there is no centralized financial market supervision in Italy . The banking supervision is the responsibility of the Banca d'Italia , the Insurance Supervision takes over the IVASS .
The Consob is an administratively independent authority . Its president and the four other board members will be appointed by the Italian president for a one-off term of seven years after a cabinet decision has been taken on the proposal of the head of government . Consob has a total of around 500 employees who are organized in eleven departments and 39 units.
history
In 1974 the Ministry of the Treasury transferred the supervision of the stock exchange to Consob, which began operations in 1975. The United States Securities and Exchange Commission served as a model . In 1983, 1985, 1991 and 1998 the powers of the new authority were increased.
President
- Gastone Miconi (1975-1980)
- Guido Rossi (1981-1982)
- Vincenzo Milazzo (1983-1984)
- Franco Piga (1984–1990)
- Bruno Pazzi (1990-1992)
- Enzo Berlanda (1992–1997)
- Tommaso Padoa-Schioppa (1997-1998)
- Luigi Spaventa (1998-2003)
- Lamberto Cardia (2003-2010)
- Giuseppe Vegas (2010-2017)
- Mario Nava (2017-2018)
- Paolo Savona (since February 2019)
See also
Web links
Coordinates: 41 ° 55 '8.4 " N , 12 ° 29" 39.6 " E