Green light for the appointment of Guido Stazi a President of Consob by the Senate Finance Committee. Of the 14 voters, the Committee's chairman, Massimo Garavaglia (Lega), reported, 9 votes in favor, 4 abstentions and one blank ballot. The opposition abstained: specifically, Pd and M5S were present and, as explained by Francesco Boccia (Pd) and Mario Turco (M5S), the issue does not concern the figure of Stazi but expresses a criticism of the majority and the Government. For the majority no Forza Italia representatives were present.
And it is a sort of "program" that Stazi presented before the joint Finance Committees of Parliament: 9 pages of speech with numerous references to the Constitutional provisions, to the rules and to the European project. The synthesis? A Consob "strengthened" that maintains the "neutrality and equidistance from special interests,” in keeping with liberal tradition, to protect freedom of enterprise, the market, and savings. And with a central objective: to bring companies back to the stock exchange and make them attractive to Italian investors.
Consob, Stazi on the banking risk
Stazi does not go into the merits of the most burning issues that he inherits after the presidency of Paolo Savona. Topics at the centre of numerous questions from parliamentarians, especially from the opposition, who complained about the the Commission's inactive role in the banking risk affair (in primis)A word that Stazi doesn't "like", perhaps "because I don't like board games" he says. He certainly knows well the events he defines “operations of great importance”, from the side Antitrust Since the "unsolicited but very welcome" appointment, he has delegated its functions to the deputy secretary general. And obviously, he still has no knowledge of the Consob documents.
However, he acknowledges that Consob has worked to ensure its mandate "to ensure transparent and accurate information" and promises a “collegial” management, one of the characteristics of independent authorities. And in any case, according to the designated president, the listed banking (and energy) sector requires "special attention." This is in light of the geopolitical tensions in "sectors that have a significant weight on the list and see an important role for the State as a shareholder and guardian of strategic assets for the country." For this reason, "constant monitoring of the solidity of corporate governance systems, the adequacy of risk management and internal control processes, as well as the quality and transparency of information provided to the market, especially with regard to risks associated, in particular, with cybersecurity and to environmental and social issues".
As for the risks associated with the crypto assetsStazi says that this is "a new phenomenon that, although still limited to our country, is being closely monitored by national (as well as European) financial authorities." Therefore, a strong fight against "illegal practices and forms of financial intermediation" is needed, especially in a country like ours, where financial education is still lagging behind.
