"I remind you that Consob is an independent authority by law": thus the minister of the economy, Pier Carlo Padoan, he replied to the Chamber during question time to the question posed by M5S deputy Laura Castelli on the government's willingness to ask for the resignation of the president of Consob Joseph Vegas in relation to the exclusion of probabilistic scenarios from the information prospectuses of the financial instruments.
The insertion of the probabilistic scenarios default in the prospectuses of subordinated bonds it is not an information obligation, currently only represents “an additional piece of information for the more illiquid and more complex instruments. Italy has always been in line with EU regulations" on issues of savings protection, he clarified during the question time, to a question from M5S deputy Laura Castelli, who asked the reasons for not including probabilistic scenarios in the prospectuses of the subordinated bonds issued by the 4 banks placed in liquidation (Banca Etruria, Carichieti, Carife and Banca Marche).
The minister recalled that the most recent EU legislation, which does not currently concern subordinated bonds, has envisaged for some products the Kid (Key Information Document) model which also envisages three scenarios: favourable, intermediate and unfavorable, without excluding that in the future these scenarios may also be transferred to other products .
