Top management from the Bank of
Italy and the Italian Insurance Supervisory Authority will be
prohibited from "collaborating, consulting, or working with
regulated parties" for two years after leaving their positions,
according to a public administration reform law amendment that
was approved on Wednesday by the Constitutional Affairs
Commission of the Lower House.
The amendment, which was originally intended only for
Consob, the public authority responsible for regulating the
Italian financial markets, is subject to an opinion from the
European Central Bank.
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