Workshops and Conferences - CONSOB AND ITS ACTIVITIES
Seminar of the "Banking and Finance" cycle on the "Corporate Bond Flipping" - 11 October 2021
The first seminar of the Department of Economics and Business Management of the "Banking and Finance" cycle, organized with the Israeli universities Ben Gurion University of Negev and Bar-Ilan University, Academic Year 2021-2022, will take place on Monday 11 October at 3.00 pm and is entitled "Corporate Bond Flipping".
Speaker: Stanislava (Stas) Nikolova (University of Nebraska-Lincoln). The seminar will take place in dual mode.
To participate in presence in Room 100, via Necchi 9, it is necessary to hold the Green Pass certification and to book by sending an email to: dip.segesta@unicatt.it.
To participate online, through the Microsoft Teams platform, please use the following link: Professor Stas Nikolova's seminar.
8 October 2021: financial instruments and distributed ledger technologies - First seminar on blockchain
The first seminar organised by Consob and the Blockchain & Distributed Ledger Observatory of the Politecnico of Milan with the aim of exploring the main challenges posed by Blockchain technologies will be held on 8 October 2021, from 11:00 am to 1:00 pm.
The first meeting of this cycle of events will cover the regulatory and market profiles of financial instruments issued and managed through distributed ledger technologies. The possibilities offered by using such solutions for the management of financial assets will also be detailed by presenting relevant active experiences in Italy.
The meeting will be opened by Consob President Paolo Savona and the Director of the Digital Innovation Observatory and the Department of Management Engineering of the Politecnico di Milano, Alessandro Perego. In the first part of the meeting they will discuss the topic with Commissioner Consob Paolo Ciocca, Anna Genovese (Professor of Commercial Law at the University of Verona and former Commissioner Consob), Stefano Caselli (Professor of Economics of Financial Intermediaries and Prorector of International Affairs, Bocconi University), Gian Maria Mossa (Chief Executive Officer and General Manager, Banca Generali). In the second part of the meeting they will discuss the topic with Valeria Portale (Director, Blockchain & Distributed Ledger Observatory): Francesco Bruschi (Director, Blockchain & Distributed Ledger Observatory), Alessandro Roveda (Head of Blockchain SIA), Marco Pagani (CEO Wizkey). The journalist Pierangelo Soldavini (Sole 24 Ore) will moderate the work. The final greetings will be made by Consob President Paolo Savona.
The event represents an important opportunity for a live discussion with the main actors and experts in the sector; in fact, it will be possible to interact with the speakers through the appropriate Q&A sessions. The Seminar will be available in streaming free of charge, after registration at the following link: https://www.osservatori.net/it/eventi/prossimi/webinar/strumenti-finanziari-tecnologie-distributed-ledger-stato-arte-prospettive-webinar which will allow the assignment of a personalized access to the event.
Consob global webinar on Sustainable Finance (WIW 2021) "Environmental, social and governance objectives for well-informed and protected investors" - 4 October 2021
Consob is running a global webinar as part of the activities planned within the fifth edition of the World Investor Week (WIW) 2021, the initiative promoted by the International Organization of Securities Commissions (IOSCO) to raise awareness of the public on the importance of financial education to increase understanding and independent judgement in making financial decisions.
The webinar, scheduled on Monday 4 October from 13:00 to 15:30, focuses on sustainable finance - one of the key topics of the 2021 global campaign - and counts on the participation of a stellar line-up of international expert speakers, who will debate on the need to ensure investor protection and the opportunity to promote investor education.
The virtual event will be opened by a keynote speech from Erik Theeden, Chair of the IOSCO Task Force on sustainability, and will continue with two panels moderated by Consob: the first focused on institutional aspects and the related implications in terms of investor protection (with the participation of the Italian Ministry of Economy and Finance, the European Commission, the IFRS Foundation, ESMA and EFAMA / IIFA) and the second aimed at investigating the role that can be played by investor education with respect to financial sustainability (with the participation of the OECD, academia, the Brazilian CVM, Better Finance and the CFA Institute). Newly appointed Consob Commissioner Maria Chiara Mosca will close the event with some final remarks.
Participants must register via the link https://primetime.bluejeans.com/a2m/register/fbaypugj, which will allow the assignment of a personalized access to the webinar. During the event it will be possible to ask questions to the speakers through the specific function of the platform chat.
The new frontiers of tokenization. Implications for the national market
Consob | Blockchain & distributed ledger observatory
PROGRAM | 8/10/2021 - 04/03/2022The world of finance is experiencing a time of great transformation driven by regulatory and technological evolution and increasing competition. On the one hand, with the Digital Finance Package, adopted by the European Commission on 24 September 2020, the EU is starting to establish a regulatory framework capable of encouraging the development of different crypto-assets typologies. On the other hand, Blockchain and Distributed Ledger technologies are already impacting financial markets around the world, leading to the emergence of new players, new business models and new assets, which are complementing and often competing with traditional ones. It is necessary to be prepared for this change.
CONSOB and the Blockchain & Distributed Ledger Observatory of the Politecnico di Milano organize a seminar-based course to explore the core challenges posed by these new technologies, mainly through the analysis of both the regulatory and of the more technical and business points of view.
Consob's annual meeting with the financial market to be streamed live at 11.00 am on Monday 14 June 2021
On 14 June, at 11.00 a.m., at the Rome headquarters, the Chairman of the National Commission for Companies and the Stock Exchange, Prof. Paolo Savona, will hold the annual meeting with the financial market on the occasion of the presentation of the CONSOB Report for 2020.
For reasons related to the current health emergency, the event will take place exclusively in streaming mode. The event will be available on the Commission's website www.consob.it and live on RAI 2 TV channel.
The non-financial reporting of Italian listed companies - Presentation of the 3rd CONSOB Report
The 3rd CONSOB Report on the non-financial reporting of Italian listed companies will be presented on 11 June next, from 10:30 a.m. to 12:00.
The Report, which will be available on the CONSOB website at the end of the presentation, analyzes the non-financial reporting of Italian listed companies, following the application of the Legislative Decree no. 254 of 2016 transposing the Directive 2014/95/EU.
Carmine Di Noia, CONSOB Commissioner will speak. The program of the event will be available shortly.
Participation is free. Online registration is welcome at: /web/consob-and-its-activities/enrollments.
The event will be streamed on the GoToMeeting platform; the link for connecting will be sent to those who have registered near the event.
Third CONSOB Report on the non-financial reporting of Italian listed companies
Presentation of the Report by Nadia Linciano, Giovanna Di Stefano, Angela Ciavarella, Livia Piermattei [Italian version]
Data portability in the financial sector: presentation of the Consob working paper of the Fintech series
On 8 June, from 9:30 to 12:00 a.m. the new Fintech Working Paper of Consob about "Data portability in the financial sector" will be presented in a workshop. The proceedings will be introduced by the President of Consob, Paolo Savona. The opening by Anna Genovese (Consob Commissioner) and Valeria Falce (Full Professor of Economic Law - European University of Rome) will follow. The debate will be chaired by Paolo Ciocca (Consob Commissioner).
Participation is free, but online registration is welcome: /web/consob-and-its-activities/enrollments.
The event will be streamed on the GoToMeeting platform; the link will be sent near the event to those who have registered.
From 15 April to 6 May 2021: Consob minor program for students of the Roma Tre University
Consob and the Roma Tre University give the starting to the experimentation of a minor on financial and digital education: seven lessons for students interested in studying the topic of personal finance management in detail, also in relation to the evolution of sustainable finance and digitalization of the financial system.
Participation in the lessons is reserved for students of the Roma Tre University.
Eureka: the digital frontiers; cycle of Consob webinairs
Starting from 12th April it will be held "Consob - Eureka!" a webinair cycle about various topics with relation to artificial intelligence and its application to the field of regulation and supervision of financial markets. Six events, from 4.00 to 5.30 p.m., introduced by the President of Consob, Professor Paolo Savona, where some of the leading experts in the field will focus on the potentials of the digital with the aim of identifying innovative tools to simplify and improve the activities of regulators, supervisors and political decision-makers.
A debate between professionals inspired by Archimedes, for reaching the Eureka!
Participation in webinars is reserved to the employees of Consob and those of other institutions in the financial sector (Bank of Italy, IVASS, and so on) which have been involved through institutional channels.
Presentation video of the seminars of the Consob Chairman Prof. Paolo Savona
The evolution of financial reporting over the last 30 years - Conference in memory of ANGELO APPONI
On Monday, 12 April 2021 from 9:15 a.m. to 1:30 p.m. the conference: "The evolution of financial reporting over the last 30 years" will be held. The event is organized in memory of Angelo Apponi.
The conference will be introduced by Commissioner Anna Genovese; Commissioner Paolo Ciocca will chair and Commissioner Giuseppe Maria Berruti, President of section of Supreme Court, will draw the conclusions.
Participation is free, but online registration is welcome at: /web/consob-and-its-activities/enrollments.
The conference will be held in streaming on the GoToMeeting platform; registered participants will be provided with the link to login near the event date.
Presentation of 9th CONSOB Report on corporate governance of Italian listed companies
On 6 April, from 11:30 a.m. to 13:00, the 9th CONSOB Report on corporate governance of Italian listed companies will be presented.
The Report, which will be available on CONSOB website at the end of the presentation, provides evidence on ownership structures, corporate bodies, annual general meetings and related parties transactions, on the basis of data obtained from supervisory statistical reports and information disclosed by listed companies.
Dr. Paolo Ciocca, CONSOB Commissioner, will join the event.
Participation is free, but online registration is welcome: /web/consob-and-its-activities/enrollments.
The event will be held in streaming on the GoToMeeting platform; registered participants will receive the link to participate near the event date.
Report 2020 on corporate governance of Italian listed companies
Speeches by Paolo Ciocca, CONSOB Commissioner (Italian version)
Speaking notes by Nadia Linciano, CONSOB (Italian version)
Speaking notes by Francesca Fiore, CONSOB (Italian version)
Presentation of the Report by Angela Ciavarella and Rossella Signoretti, CONSOB (Italian version)
Discussion by Massimo Belcredi, Università Cattolica del Sacro Cuore (Italian version)
Webinar "The takeover BIDS in Italy from 2007 to 2019, empirical evidence and hints for thought" - 19th February 2021, at 4 p.m.
On 19th February 2021, starting at 4 p.m. Consob, Bocconi University and the review Rivista delle società organize a seminar for the presentation of the Discussion Paper "The takeover bids (OPA) in Italy from 2007 to 2019, empirical evidence and hints for thought".
Marco Ventoruzzo (Bocconi University) and Gianfranco Trovatore (Consob) introduce the workshop.
This will be followed by the presentation of the study by Valeria Ponziani (University of Rome Tor Vergata) and Federico Picco (Consob) and the discussion with the participation of Marcello Bianchi (Assonime), Concetta Brescia Morra (Roma Tre University), Carmine di Noia (Consob Commissioner) and Raffaele Lener (University of Rome Tor Vergata). Final remarks by Piergaetano Marchetti (Bocconi University).
To participate in the event please click here: https://eu.bbcollab.com/guest/87c61dd4c7cf4d08a872e4b1f607ade7.
Last online seminar of the series "Securities Markets: Trends, Risks and Policies"
On January 27, 2021, at 3.00 pm (CET), Anna Bayona (Esade Business School) will present the paper: "Information and Optimal Trading Strategies with Dark Pools".
The webinar is the last of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Massimo Guidolin (Bocconi University) will open the webinar and Martin Haferkorn (Risk Analysis Officer, ESMA) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Ninth online seminar of the series "Securities Markets: Trends, Risks and Policies"
On January 20, 2021, at 3.00 pm (CET), Diane Pierret (University of Luxembourg) will present the paper "Similar Investors".
The webinar is the ninth of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Christian Winkler (Team Leader Markets and Investors, Risk Analysis and Economics Department, ESMA) will open the webinar and Antoine Bouveret (ESMA) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861.
Eighth online seminar of the series "Securities Markets: Trends, Risks and Policies"
On January 13, 2021, at 3.00 pm (CET), Nicola Borri (LUISS University) will present the paper "Cryptomarket Discounts".
The webinar is the eighth of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Claudia Guagliano (Esma) will open the webinar and Maha Al-Saadi (Deutsche Börse) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Seventh online seminar of the series "Securities Markets: Trends, Risks and Policies"
On January 11, 2021, at 3.00 pm (CET), Yazhou Ellen HE (University of Manchester) will present the paper "ES Risks and Shareholder Voice".
The webinar is the seventh of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Nadia Linciano (Head of Economic Studies Unit Research Department Consob) will open the webinar and Giovanni Petrella (Cattolica University) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Sixth online seminar of the series "Securities Markets: Trends, Risks and Policies"
On December 16, 2020, at 3.00 pm (CET), Vitor G. AZEVEDO (TUM School of Management, Technical University of Munich) will present the paper "Investor sentiment and the time-varying sustainability premium".
The webinar is the sixth of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Nadia Linciano (Responsabile Ufficio Studi Economici CONSOB) will open the webinar and Rocco Ciciretti (University of Rome Tor Vergata) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Fifth online seminar of the series "Securities Markets: Trends, Risks and Policies"
On December 14, 2020, at 2.30 pm (CET), Giulio ANSELMI and Giovanni PETRELLA (Università Cattolica del Sacro Cuore) will present the paper "Regulation and stock market quality: the impact of MiFID II on liquidity and efficiency of European stocks".
The webinar is the fifth of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
The webinar speakers include Claudia Guagliano (ESMA) and Gianluigi Gugliotta (Assosim).
Link to participate: https://global.gotomeeting.com/join/755296861
Presentation of the third edition of the mirroring survey on financial advisor-investor relationship – Focus 2020 on sustainability and investments - 14 December 2020, 4.00 pm - 5.15 pm
The survey, by Nadia Linciano and Paola Soccorso (CONSOB Economic Studies Unit), Joe Capobianco (Bologna Business School – Università Alma Mater Studiorum) and Massimo Caratelli (Università degli Studi Roma Tre), analyses the financial advisor-investor relationship in order to identify areas for improvement due to gaps in communication, limited knowledge and poor exchange of information.
The 2020 Report investigates whether the financial advisor-investor relationship may lead to a higher consideration of the ESG factors in the individuals' investment process by leveraging on the communication between the parties involved.
Professor Anna Genovese (Consob Commissioner) will open the proceedings.
Presentation of mirroring survey, by Nadia Linciano and Massimo Caratelli
Presentation of the sixth report Consob on Financial Investments of Italian households - 10 December 2020, 11.30 am - 13.15 am
The Report presents evidence on the investment choices of Italian households with the aim of gaining insights as to how they manage investment decisions and the main risks they may take.
The Report is based on the Survey ‘The approach to finance and investment of Italian households' administered by GfK Italia to a representative sample of Italian retail financial decision-makers.
The 2020 Report contains two sections focused on knowledge and attitude towards SRIs and attitude towards digital assets and financial services, respectively.
Carmine Di Noia (Consob Commissioner) will open the proceedings.
Presentation slides by Nadia Linciano, Monica Gentile, Paola Soccorso
Fourth online seminar of the series "Securities Markets: Trends, Risks and Policies"
On December 9, 2020, at 4.00 pm (CET), Tobias DIELER (University of Bristol) will present the paper "Repo resilience".
The webinar is the fourth of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
Massimo Guidolin (Bocconi University) will open the webinar and Andrea Gentilini (Head of Market Infrastructure Division, Innovation, Payments, Market Infrastructures and Governance Department - Commission de Surveillance du Secteur Financier, CSSF) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Third online seminar of the series "Securities Markets: Trends, Risks and Policies"
On November 25, 2020, at 3.00 pm (CET), prof. Alon BRAV (Duke Fuqua School of Business) will present the paper "Retail shareholder participation in the proxy process: monitoring, engagement, and voting".
The webinar is the third of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
The Commissioner Carmine Di Noia will open the webinar and prof. Marina Brogi (Sapienza Università di Roma) will discuss the paper.
Link to participate: https://global.gotomeeting.com/join/755296861
Second online seminar of the series "Securities Markets: Trends, Risks and Policies"
On November 16, 2020, at 3.00 pm (CET), prof. Raffaele CORVINO (University of Turin and CERP) will present the paper "Hedging labor income risk over the life-cycle". The webinar is the second of a series of 10 seminars organised by CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center on the following topics: market microstructure, post-trading and market efficiency; corporate governance and sustainability; investor protection and financial innovation in securities markets.
The webinar speakers include prof. Elsa Fornero (University of Turin and CERP) and Henriette Praast (University of Tilburg). The Commissioner Carmine Di Noia will open the webinar.
Link to participate: https://global.gotomeeting.com/join/755296861
Online seminars series "Securities Markets: Trends, Risks and Policies"
CONSOB, ESMA and Bocconi University, through its BAFFI - CAREFIN research center, present a series of seminars on the following issues: market microstructure, post-trading and market efficiency; corporate governance and sustainability (non-financial information, value creation, ESG factors); financial services, investor protection and financial innovation in securities markets.
The cycle of 10 meetings until January 27, 2021, begins today November 9 at 3.00 pm with the webinar held by Professor Loriana PELIZZON (Ca' Foscari University of Venice and SAFE-Goethe University Frankfurt) on the OTC discount in the German bond interdealer market.
Link to participate: https://global.gotomeeting.com/join/755296861
SAVE-THE-DATE: 5 November 2020, 3.00 pm - 5.30 pm - Sustainable finance, transparency and financial education for businesses. Financial education supporting the transition toward a sustainable economy.
CONSOB promotes an awareness raising event, aimed at companies, on the issues of sustainable finance and transparency of non-financial information, in the framework of the World Investor Week and of the Month of Financial Education.
Prof. Anna Genovese (Consob Commissioner) introduces the workshop. After an analysis of the European context by Malgorzata Feluch (European Commission) and Jean-Marie Andres (Eurofi), the following interventions, by Roberto Monducci (ISTAT), Guido Romano (Cerved) and Roberto Bianchini (Politecnico di Milano) refer to the national context. Mauro Bellofiore and Nadia Linciano (CONSOB) then give an illustration of both the prospects for development of non-financial reporting and the role of financial education. The final program of the event will be disclosed later on.
Participation is free; online registration is welcomed at: /web/consob-and-its-activities/enrollments.
World Investor Week (WIW) - The fourth edition at its start - Presentation press conference - Thursday 29 October at 10:30 am
The fourth edition of the World Investor Week (WIW), the financial education initiative launched in 2017 by Iosco, the world organization of regulatory and supervisory authorities on financial markets, organized in Italy by Consob, is starting from the 2nd to the 8th of November.
The event will be presented in a press conference on Thursday, 29 October.
Web appointment at 10:30 am via the GotoMeeting platform.
The works will be opened by Professor Anna Genovese, Consob Commissioner.
Theater, games, storytelling, education: these are the tools that will be used by Consob for promoting financial education in Italy through a series of initiatives aimed at reaching the population in all its parts, from children to adults.
24 July 2020: Streaming presentation of the Occasional Report: "The Covid-19 Crisis. Impacts and risks for the Italian financial system in a comparative perspective"
On Friday 24 July next, from 11.00 to 12.30 a webinar will be held for the presentation of the Occasional Report "The Covid-19 Crisis. Impacts and risks for the Italian financial system in a comparative perspective".
The Report, which will be published at the end of the presentation on the Consob website, takes into consideration the impact of the economic consequences of the Covid-19 Pandemic in the first half of 2020, examining its evolution both at the domestic and at the international level.
The Report also offers initial reflections on the transformations that the pandemic has triggered or accelerated, at various levels, thus helping to change the reference context in which regulators and financial market supervisors will operate in the future.
Consob Commissioner Carmine Di Noia will open the panel; the presentations of Nadia Linciano, Monica Gentile, Valeria Caivano and Francesco Fancello will follow.
It is possible to register to participate in the event through the SIPE - Integrated External System. All registered participants will receive an email containing the link for connecting to the event.
Presentation of the Report by Nadia Linciano, Valeria Caivano, Francesco Fancello and Monica Gentile