Some Seriously Regulated Forex and CFDs Brokers

CONSOB Responsibilities and functions and how it regulates forex brokers

CONSOB carries out several functions:

• it regulates the investment services and operations of intermediaries, the reporting obligations of companies listed on regulated markets, and the solicitation of investment from the public;
• it authorizes the operations of regulated markets, the publication of prospectuses, the centralized management of financial instruments, and enrolment in registers;
• it monitors the operations of market management companies, the transparency and orderly conduct of trading, and the transparency and fairness of the conduct of intermediaries and financial representatives;
• it penalizes any unfair conduct by the above-mentioned parties;
• it checks the information provided to the market by entities that solicit investment from the public, as well as the information contained in the accounting documents of listed companies.

CONSOB Organisation and Structure

CONSOB is headed by a collegiate body consisting of a chairman and four members, appointed by a decree of the President of the Republic on the proposal of the President of the Council of Ministers, who remain in office for seven years and their term is non-renewable. The organizational structure includes a central management committee under which there are eleven departments (issuers, intermediaries, markets, etc.) and thirty-nine divisions (company controls, public tender offers and ownership structure, financial representatives monitoring and register, insider trading, derivatives markets, etc.), with offices in Rome and Milan.