Financial, Italian Financial Conglomerates, Consob

Legislative Decree n. 142/2005 (“conglomerates decree”)

Bank of Italy, Ivass and Consob

The list of Italian financial conglomerates as at 31 December 2018 was updated On the basis of the provisions of the Coordination Agreement signed on March 31, 2006, the Bank of Italy, Ivass and Consob updated the list of Italian financial conglomerates, that is to say those corporate groups that perform business to an extent significant in both the insurance and banking sectors and / or investment services.

Supervision of financial conglomerates is exercised, pursuant to Legislative Decree no. 142/2005 (“conglomerates decree”), with the supplementary supervisory tools in addition to those used for the exercise of sectoral oversight, in order to systematically monitor the capital adequacy and the riskiness of the group as a whole, taking into account the interrelations between insurance and banking / financial activities carried out by its various components.

The list at 31.12.2018 includes three financial conglomerates subject to supplementary supervision as early as last year.

The Bank of Italy maintains the role of coordinating authority on a bank-led conglomerate (….) which includes institutions that do not qualify as “significant”, the IVASS on the two under insurance guidance (…… and ……).

The list does not include financial conglomerates that include “significant” institutions, whose identification is the responsibility of the European Central Bank within the Single Supervisory Mechanism.

30 September 2019

Source Consob