With its implementation of Resolution No. 22833 dated 9th October 2023, Italy’s National Commission for Companies and the Stock Exchange (CONSOB), has undergone profound amendments in the world of corporate and STS securitisations. As stipulated via the Italian Legislative Decree No. 58 of 24 February 1998, these changes position CONSOB as a “competent authority” under Regulation (EU) 2017/2402, alternatively known as the “EU Securitisation Regulation”.
Being the competent authority, CONSOB is placed with substantial responsibility and power, putting it in a unique position to implement and govern the securitisation regulation. The new roles and regulations foster a higher level of transparency and security in the field of securitisation, protecting all involved parties across each stage of transactions.
The changes associated with Resolution 22833 reflect feedback and comments from the public, likely addressing concerns regarding transparency, efficiency, and overall security issues in the STS securitisation space. CONSOB’s new implementing provisions aim to acknowledge and alleviate these issues, although the exact impact remains to be observed in practice.
More information about this resolution and its implications for professionals in corporate firms and law corporations will be provided as it unfolds. Keep an eye on this space for more in-depth articles and updates on this matter.
In conclusion, professionals in this space should be well-versed with these changes to ensure compliance. They should also understand what these sweeping changes mean for their day-to-day operations, potentially impacting the broader landscape of how corporate and STS securitisations are managed and regulated.