Regolamento Mercati, Consob apre una consultazione pubblica sull’adeguamento nazionale ad alcune riforme europee

Consob has launched a public consultation on amendments to the Consob Resolution No. 20249 of 28 December 2017 („Markets Regulation“) aimed at aligning the secondary legislation with recent European reforms related to:
– Regulation (EU) 2019/2175, which amends Regulation (EU) No. 600/2014 (MiFIR) and transfers the authorization and supervision of data reporting services related to financial market transactions to ESMA.
– Directive (EU) 2021/338, which amends Directive (EU) 2014/65 (MiFID) as part of the Capital Markets Recovery Package, simplifying the position limits framework for derivatives on agricultural commodities and critical or significant commodities.
The proposed amendments to Consob’s Markets Regulation follow those already implemented in Title I-ter and Section V of Chapter II, Title I-bis, Part III of the TUF.
The amendments concerning data communication services (Articles 52-60) aim to limit the application of the Markets Regulation to authorised reporting mechanisms (APA) and authorised publication devices (ARM) that have limited relevance to the internal market, with the relevant competencies remaining with Consob.
The changes related to commodity derivatives (Articles 61-65) are proposed to align with the new scope of position limits regime introduced by European regulations and to rationalise reporting obligations to Consob.