On February 27, the Bank of Italy and the Consob (National Commission for Companies and the Stock Exchange) entered into a memorandum of understanding to strengthen the collaboration between the two authorities in supervisory activities.
The agreement has the scope to allow authorities to promptly have updated information on circumstances or facts concerning the entities supervised in the areas of:
- Prudential supervision;
- Anti-money laundering (AML) supervision;
- Crisis management;
- Additional control activities carried out by Consob in governance, financial reporting, and statutory audit matters.
The memorandum also provides a collaboration between the two authorities in inspection activities, exchange of information, and communications in cases of proceedings for the approval of prospectuses before Consob