The supervision of intermediaries subject to the full range of checks on operations (less significant banks and banking groups, securities firms and groups headed by a securities firm, asset management companies and SICAVs, financial intermediaries referred to in Article 106 of the Consolidated Law on Banking, electronic money institutions and payment institutions) is carried out using methodologies established in conformity with European law in the Guide to supervisory activities (divided into three parts).
The Guide:
- outlines the Supervisory Review and Evaluation Process (SREP) on the basis of an operational model that is the same for all supervisory staff, which ensures consistent behaviour;
- governs all the controls on intermediaries except for special procedures;
- ensures that the verification of sound and prudent management and of compliance with the law is performed effectively and efficiently, in conformity with the principle of transparency.
The published English version refers to the general principles regulating the Bank of Italy supervisory activity. For further details, please refer to the published Italian version.
