Commissione Nazionale per le Società e la Borsa

The Commissione Nazionale per le Società e la Borsa (usually abbreviated Consob or CONSOB ), the Italian Securities and Exchange Commission. The main and the administrative seat of Consob is located in Rome, the second service based at the Italian Stock Exchange in Milan.

Tasks and organization

Among the most important tasks of the regulator Consob as part of investor protection, the definition and monitoring of reporting and publication obligations ( prospectus ), the monitoring of securities trading and the players involved, and in particular the prevention of insider trading.

In contrast to Germany and some other countries, in Italy there is no centralized financial market supervision. Banking supervision is the responsibility of the Banca d' Italia, the Insurance Supervision takes the IVASS.

Consob is an administratively autonomous authority. Your President and the four other board members be appointed by the appropriate Cabinet decision on a proposal of the Government of the Italian President for a renewable term of seven years. Consob has around 500 employees who are organized into eleven departments and 39 papers.

History

By law, the SEC has been transmitted to Consob in 1974 by the Treasury, which started its activities in 1975. Served as the model, among others, the United States Securities and Exchange Commission. 1983, 1985, 1991 and 1998, the powers of the new authority were expanded.

President

• Miconi Gastone (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 - in office)