ITALY: CONSOB – Three Months Extension of the Strengthened Transparency Obligations (significant shareholdings)

Monday July 13 2020

On 10^th July 2020, the Commissione Nazionale per le Società e la Borsa (CONSOB) announced that it has extended resolution 21434 for a period of three months – from 12 July 2020 until 12 October 2020, unless revoked earlier – the provisions of resolutions n. 21326 and 21327 of 9 April 2020 with which the Commission, making use of the powers of the so called “Companies Decree” (Legislative Decree No. 23 of April 8, 2020) respectively, strengthened the transparency obligations on the changes in the significant shareholdings and expected to disclose the investment objectives for companies with a shareholder base particularly widespread upon exceeding a certain threshold for a period of the next six months

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