meta_id 3369287

On July 31, 2026, the Commissione Nazionale per le Società e la Borsa (CONSOB) launched a public consultation on proposed amendments to the Manual of Reporting Obligations for Supervised Subjects, adopted by CONSOB Resolution n. 17297 of April 28, 2010, and subsequent amendments. The consultation aims to simplify and update reporting obligations for intermediaries by eliminating duplications and overlaps, leveraging information already available from other sources, and aligning reporting flows with evolving regulatory and technological frameworks. The initiative forms part of CONSOB's broader administrative burden reduction programme, consistent with recent European guidance on rationalising information flows between operators and supervisory authorities under the "report once" principle. CONSOB proposes amendments across three main areas: total or partial removal of certain reporting obligations; simplification of content, frequency, and transmission methods for reports; and introduction of new reporting flows to address specific supervisory needs or new regulatory requirements. A preliminary regulatory impact analysis indicates a net reduction in reporting requirements for supervised entities, resulting from elimination or simplification of numerous existing flows. Proposed removals or reductions include obligations relating to shareholdings and shareholder agreements, composition of corporate bodies, managed portfolios, management mandates, and extraordinary transactions. Simplifications also address reporting on activities of financial advisors authorised for off-premises distribution, distribution of insurance investment products, and real estate collective investment scheme portfolios. New obligations are limited to specific supervisory needs regarding EU investment firms with branches in Italy and third-country intermediaries without branches. CONSOB also proposes requiring notification of changes to internet domain names used for investment services and transmission of compliance function reports to management bodies when material compliance risks are identified. The consultation applies to intermediaries and other supervised subjects including banks, investment firms, asset management companies, investment companies, EU investment enterprises, third-country intermediaries, EU management companies, and partnership entities. Responses must be submitted by September 29, 2026, via the SIPE (Sistema Integrato Per l'Esterno) system using the designated form available on CONSOB's website.