Authority and scope
Sections ↑CONSOB oversees Italian financial markets. Banks, investment firms and asset managers have different permissions and register routes; match the legal operator and service.[1]
Registers and permission checks
Sections ↑Choose the register for the operator
| Operator | Official route | Qualification |
|---|---|---|
| Italian bank | Banca d’Italia / European bank-authorisation framework | Bank investment-service permissions should not be replaced with an invented SIM registrationSource 1Source 3 |
| Italian investment firm (SIM) | CONSOB investment-firm register | Read the named firm, permitted services and relevant decisionsSource 2 |
| Other EU investment firm | CONSOB incoming-service record plus home-authority register | Italian records update from home-authority notifications; verify current home authorisation tooSource 2 |
| Non-EU investment firm | Relevant authorised branch or cross-border register section | Presence and permissions depend on the specific routeSource 2 |
| Fund manager | The operator’s authorised management category | A manager’s permission and a distributor’s role are distinctSource 1 |
Evidence boundaries
| Check | Reason |
|---|---|
| Bank versus investment firm | Banks can provide authorised investment services without becoming a separately incorporated SIMSource 1 |
| Branch versus cross-border service | Supervisory responsibility follows the operator type and service routeSource 1 |
| Updated decisions | CONSOB publishes register changes through its official decisions and bulletin routesSource 2 |
The linked register is the official investment-firm directory. For a bank such as FinecoBank, use the bank-register and European supervised-entity evidence instead. Associating CONSOB with the relevant investment-service remit does not assert that every product, affiliated company or customer jurisdiction has the same permission.[1][3]
Check the exact legal entity, permissions, current status and scope in the official record. A brand connection in our coverage does not establish authorisation.
Rules for firms and products
Sections ↑CONSOB’s retail-CFD intervention is a product rule, distinct from the firm’s authorisation. Resolution 20976 sets restrictions on marketing, distribution and sale in or from Italy. Read the retail-client classification and underlying instrument together before applying a margin figure.[4]
Retail CFD protections in Resolution 20976
| Topic | Published position and meaning |
|---|---|
| Opening margin | Minimum margin varies by underlying risk category; major-currency-pair CFDs start at 3.33% of notional, corresponding to approximately 30:1 leverage.Source 4 |
| Account protections | The measure includes account-level margin closeout and negative-balance protection, restrictions on incentives and standardised risk warnings.Source 4 |
| Boundary | These are specified retail CFD protections, not a general guarantee for all securities, professional accounts or overseas affiliates.Source 4 |
Complaints and dispute resolution
Sections ↑For an eligible dispute about investment services, the ACF is the specialist alternative-dispute body. It differs from the ABF, which addresses banking services such as accounts and payments. Complain to the provider first and preserve its reply; the ACF procedure and scope determine whether the unresolved matter can be considered.[5]
ACF and regulatory supervision
| Topic | Published position and meaning |
|---|---|
| ACF claim scope | CONSOB describes ACF as available for investor damage claims not exceeding €500,000. This is a dispute-jurisdiction ceiling, not an insured brokerage balance.Source 6 |
| Supervisory evidence | A report of unlicensed activity or a rule breach serves enforcement. It does not by itself replace a private claim for recovery.Source 7 |
Reporting misconduct and enforcement
Sections ↑CONSOB publishes named decisions concerning unauthorised online investment services, including the relevant domains and activities. Read the operative decision and its date: an instruction to cease unauthorised activity is not the same as a finding that every customer suffered an identical loss. The authority’s warning and decision resources complement the authorised-firm registers.[7]
Compensation & firm failure
Sections ↑This profile has not yet established the applicable procedure, receiving body and eligibility for this task. Consult the authority’s official resources and check your firm, product and circumstances before acting.
Contacts & official resources
Sections ↑Use the authority’s official website for current official routes. Purpose-specific resources have not yet been established in this profile.
Sources & further reading
- Financial operators: banks, investment firms and fund managers CONSOB · Accessed 11 Oct 2026
- Official investment-firm register and European passport records CONSOB · Accessed 11 Oct 2026
- Bank-register route for Italian banks Banca d’Italia · Accessed 11 Oct 2026
- CONSOB Resolution 20976: retail CFD restrictions CONSOB · Accessed 15 Oct 2026
- ACF investment dispute resolution Banca d’Italia · Accessed 15 Oct 2026
- CONSOB competences and investor protection CONSOB · Accessed 15 Oct 2026
- CONSOB Resolution 23448: unauthorised investment services CONSOB · Accessed 15 Oct 2026
A documented resource is not a finding of eligibility or compensation coverage. Consult the named body and current official terms for your firm, product and circumstances.
Report an error or submit an update
Covered broker profiles
Profiles connected to this authority in our coverage. This is not a complete official register or a list of approved brokers; see each entity’s dated status.
Directa SIM
A detailed Italian profile of Directa’s direct and indirect accounts, zero administration charges, Simple/Dynamic/Variable commissions, foreign markets, CFD pricing, platforms, bank-transfer timing, asset protection, support and Italian supervision.
- Operating status
- Active
- Headquarters
- Turin, Italy
- Sources checked
- 16 Oct 2026
Fineco
Italian FinecoBank account choices and current fee waivers; securities, CFDs, options and crypto-linked products; Replay, Multicurrency, CashPark, advice, pensions, lending, transfers and client protection.
- Operating status
- Active
- Headquarters
- Milan and Reggio Emilia, Italy
- Sources checked
- 11 Oct 2026