Consob published President Prof. Speech by Paolo Savona prepared in connection withConsob’s annual meeting with the financial marketAt the headquarters of the Italian Stock Exchange in Palazzo Mezzanotte, Piazza Afari, Milan.
The president, in more detail, has reviewed Consob’s history it wasn’t summarized the work of the last periodemphasizingthe importance of financial market supervision and investor protection.
He specifically mentioned what challenges they faced and initiatives to improve market transparency and efficiencyAmong the main actions, he mentioned the activation of cooperation with other authorities and institutions to face the emerging challenges.
The speech of the President was reflected consequences of global geopolitical changescharacterized by a greater volatility and reduced international tradeThis context specifically requires Consob to adapt to better protect the Italian economy based on exports.
The president emphasizedImportance of channeling domestic savings into productive investments and support domestic economic growth.
As for the measures aimed at directing the savings to the real economy, the president clarified Add 21/2024whose purpose is facilitate market access for SMEs and streamline the company’s top management appointment procedures.
He also discussed the phenomenon delisting listed companies and measures to encourage listings on Euronext Growth Milanemphasizing the importance of attracting capital for the development of Italian business.
In his speech, he also proposed a new institutional architecture strengthenindependence and effectiveness of monetary and financial control bodiessuggesting a a more functional approach to economic growth and social welfare; by using accounting technologies decentralized ei advances in data science improve the governance of financial markets.
The president then emphasized need to reduce complexity and uncertainties which affect the economy and social cohesion, emphasizing a balance between state intervention and the free market promote sustainable growth and equitable distribution of income.
Bottom line, it was Reiterated the importance of cooperation between Consob and other institutions to meet future challengesemphasizing need to adapt to geopolitical and technological changeskeeping high control in the markets protect investors and promote sustainable growth.