Respect market independence - CONSOB (2)

Nava says protecting savers must not entail wiping out risk

(ANSA) - Milan, June 11 - Mario Nava, the president of Italian financial market regulator CONSOB, said Monday that politicians should respect the autonomy of the markets, adding that protecting savers must not mean the elimination of risk in investments. "Respect of the independence of CONSOB and respect for the delicate mechanisms of the market by all the market operators and by the political decision-makers is essential for the country's stability and economic prosperity," Nava told the CONSOB Day event. He said it was necessary to "win back the confidence" of savers after a series of bank crises.
    But he added that "public protection of savings cannot mean cancelling out investment risks".