CONSOB – Italy

The Commissione Nazionale per le Società e la Borsa known as CONSOB or Italian Securities and Exchange Commission is the financial government authority from Italy witch is responsible for regulating the Italian market. CONSOB was formed 41 years ago on 1974 and the company headquarters are at Rome, Italy.

As main responsibilities, CONSOB carries out for many functions like authorizing the operations of regulated markets, it monitors every operation of market management companies, it regulates the investment services and operations of intermediaries, it checks the information provided to the market by entities that solicit investment from the public and least it penalizes any unfair conduct by the above-mentioned parties. Over time their responsibilities expended with a jurisdiction to protecting public savings.

CONSOB draws up its own rules for the regulation of its organization and operation, the juridical and financial treatment of its staff and the progress of careers, as well as the management of expenditure. These rules are lawfully checked by the Cabinet. The Audit Office also checks the final balance. The board is a collective body comprising the chairman and four Commission members, appointed by decree of the President of the Republic, on recommendation from the Prime Minister.