CAPITAL MARKETS | Consob adopts ESMA’s 2025 enforcement priorities for financial and sustainability reporting

On 15 October 2025, Consob announced that, in the context of its monitoring and supervision activities  on the financial and sustainability reports of listed companies relating to the 2025 financial year, it will apply the European Common Enforcement Priorities (ECEP) issued by ESMA on 14 October 2025.

These priorities include disclosures under International Financial Reporting Standards (IFRS) standards relating to geopolitical risks and segment reporting, assessments of materiality and scope in sustainability reporting, and the accuracy of electronic reporting in the European Single Electronic Format (ESEF) format.

ESMA also highlighted the importance of consistency between financial and sustainability information, the need to pay attention to IFRS updates, the upcoming entry into force of IFRS 18 on 1 January 2027, and the correct use of Alternative Performance Measures (APMs).

Newsletter n. 112 – November 2025