CAPITAL MARKETS | Consob shortens timeframe for green light to publication of prospectuses

From 19 July 2025, the power to authorise both prospectuses and prospectus supplements passed from the Commission, Consob’s top decision-making body, to the head of the Issuers’ Division. The innovation is aimed at facilitating companies’ access to the capital market by shortening the authorisation process for corporate bond issues and thus making it easier for companies to seize the most favourable time to place securities on the market.  The Commission will retain the authority to approve such prospectuses in certain cases. The application forms for the approval of these prospectuses have been updated to take into account the change introduced at the approval stage.

Newsletter n. 110 – August/September 2025