Consob

The Commissione Nazionale per le Società e la Borsa is the government authority of Italy responsible for regulating the Italian securities market. This includes the regulation of the Italian stock exchange, the Borsa Italiana. Whereas it is governed under a national framework of accountability, Consob increasingly implements policies set at the European Union level. It is a voting member of the Board of Supervisors of the European Securities and Markets Authority (ESMA). It is also a member of the European Systemic Risk Board (ESRB).