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
IMF Staff Country Reports, March 1, 2006
Source details
- Canonical URL
- 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
Other formats
Bibliographic details
- Published: March 1, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451819939.002
Summary findings
- The paper presents a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies—Securities Regulation for Italy.
- In securities regulation, the objectives and responsibilities of the two supervisory authorities, Consob and the Banca d’Italia (BI), and the modalities of cooperation between them, are clearly established in the 1998 Consolidated Law.
- An area identified for potential improvement concerns the practical modalities of exchanging information with other domestic institutions.
Legal and institutional framework
- Supervisory authorities identified:
- Consob
- Banca d’Italia (BI)
- Basis of authority:
- 1998 Consolidated Law establishes objectives, responsibilities, and cooperation modalities between Consob and BI.
Identified issue: information exchange
- Shortcoming noted:
- Further clarity may be warranted regarding the practical modalities of exchanging information with other domestic institutions.
Subject coverage and keywords
- Subjects: Budget planning and preparation; Financial markets; Financial regulation and supervision; Financial statements; Fiscal accounting and reporting; Legal support in revenue administration; Public financial management (PFM); Revenue administration; Securities markets; Securities regulation
- Keywords: BI statute; Budget planning and preparation; chairman of Consob; Consob; CR; Financial statements; government; ISCR; Legal support in revenue administration; Securities markets; Securities regulation; supervisory activity; thefor BI; Web site