Italy: Financial Sector Assessment Program: Detailed Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies: Securities Regulation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 080

Publication date: March 2006

ISBN: 9781451819939

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Public Finance , Business and Financial , ISCR , CR , Consob , Web site , government , BI statute , supervisory activity , thefor BI , chairman of Consob , Financial statements , Securities markets , Securities regulation , Legal support in revenue administration , Budget planning and preparation

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Summary

This paper discusses a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies—Securities Regulation for Italy. The paper discusses that in the area of securities regulation, the objectives and responsibilities of the two supervisory authorities, namely Consob and the Banca d’Italia (BI), and the modalities of cooperation between them, are clearly established in the 1998 Consolidated Law. An area where further clarity may be warranted concerns the practical modalities of exchanging information with other domestic institutions.