As the competent supervisory authority for Italian operators of regulated wholesale markets for government bonds, Italian central counterparties and Italian central securities depositories, Banca d'Italia complies with the 'Joint Guidelines on the system established by the European Supervisory Authorities for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market participants by competent authorities' (JC/GL/2024/88) by incorporating them into its supervisory practices.
The Guidelines, published on the websites of each European Supervisory Authority (ESA) in all official languages of the EU on 20 November 2024, establish supervisory practices for the exchange of information between competent authorities through the FPS IT platform. They also outline a structured, secure and efficient process that authorities should use to assess the suitability requirements for holders of qualifying shareholdings and directors.
Notification of compliance with the Guidelines has been submitted to ESMA pursuant to Regulation (EU) No. 1095/2010.
