In 2022 the Commission held 81 meetings to examine 1,023 cases. She stated it Paul Savonapresident of CONSOB, at the annual meeting with the financial market at the headquarters of Borsa Italiana.
Most of the activity carried out by CONSOB – he explained – falls within the tasks assigned to it by law to ensure market transparency within the supervisory perimeter established by law; supervise the fairness of the operators’ behavior and the orderly conduct of trading; contribute to the work for the improvement of national financial regulations and for the convergence of supervisory rules and practices at a European and international level.
To ensure transparency, 719 decisions were taken on thecorporate information and ownership structures; 17 prospectuses relating to the public offering and admission to trading of equity instruments were approved (3 of which refer to new listings).
To ensure the correctness of conduct and the integrity of the markets, 480 reports of suspicious market transactions17 investigations into market abuse were carried out, 350 inquiries were conducted for hypothetical abuses; 397 were taken measures for abusive performance of investment services and examined 2,742 complaints, of which 2,535 were our responsibility.
The Arbitrator for Disputes
Finally, they were addressed to issuers and intermediaries 456 requests for data and other information, as well as held over 200 meetings with company representatives of the supervised entities. The Arbitrator for Financial Disputes (ACF) received 1,116 appeals and agreed with 678 appellants; mostly intermediaries.
In particular, Savona underlined, “during the past year, CONSOB followed the complex process of integration of the Borsa Italiana Group in the group Euronext“. In collaboration with universities, schools and operators interested in the proper functioning of the market and also by implementing 50 initiatives in October 2022 alone, the Month provided an incisive contribution to the financial educationfinancial education and World Investor Week.
All activities have been completed from 650 people, “to whom I renew, also on this occasion, my heartfelt thanks and the invitation to pay constant attention to technological innovation and its use in the education of practices”, said Savona. (Ticker)