ITALY: Consob publishes online procedure UCITS Bids Documentation

Monday January 20 2014

The Italian Regulator, Consob, has published the new procedure for sending Consob the offer documentation of the management companies and SICAVs (UCITS). This procedure will be in force from 27 January 2014. From this date, all documentation sent to Consob using non-compliant methods will be considered inadmissible.

In order to fulfil the disclosure obligations required by Articles 16, 23, 26 and 27 of Regulation 11971 of 1999 (the Issuers` Regulation), any UCITS’s intending to deposit offer documentation are required to the IT procedure made available by Consob (the user instruction manual is available at http://www.consob.it/main/trasversale/operatori/sicav_sgr/index.html).

To access the procedure, each depositing party should use the credentials (username and password) supplied by Consob for the remote collection system for intermediaries. In the event of not already having these credentials, the Consob Intermediaries Division may be contacted on 02/7242227.

Click on the above link for more details.