meta_id 3064139

On April 14, 2026, the Bank of Italy (Banca d'Italia) and the Italian Financial Conduct Authority (Consob) updated the "Reconnaissance Document on the Distribution of EMIR Competences" (Documento ricognitivo sul riparto delle competenze EMIR) to align it with the European Market Infrastructure Regulation (EMIR) framework. The update reflects recent amendments to EU Regulation 648/2012 on over-the-counter derivatives, central counterparties, and trade repositories, specifically incorporating changes introduced by EMIR 3.0 (EU Regulation 2024/2987). The updated document rationalises and restructures the allocation of supervisory responsibilities between the two Italian authorities under the EMIR framework. The European Market Infrastructure Regulation establishes requirements for standardised derivatives trading, central clearing, and trade reporting across EU member states. The competence document serves as a reference guide clarifying which regulatory functions fall under the Bank of Italy's purview and which are handled by Consob, ensuring coordinated oversight of derivatives markets and infrastructure in Italy. The updated document is available on the Bank of Italy's website. REFERENCES: Bank of Italy official announcement: https://www.bancaditalia.it/media/notizia/banca-d-italia-e-consob-aggiornano-il-documento-sul-riparto-delle-competenze-emir/ EU Regulation 648/2012 on OTC derivatives, central counterparties and trade repositories EU Regulation 2024/2987 (EMIR 3.0)