New independent Authorities in Italy: rules, market and consumers

In Italy, the dynamic development of the public regulatory authorities which took place throughout the 1990s was at times chaotic and unmanageable. It was unquestionably marked by haphazard rules, unsuitable for guaranteeing real independence, accountability and transparency. During the last two legislatures, lawmakers conducted studies and drew up regulation to reform the public regulatory authorities. On February 2, the Council of Ministers approved a bill on market regulation and supervision and the rules and powers of the public regulatory authorities. Attended by representatives of government institutions, business and sector experts, the meeting offered an opportunity to analyze and discuss the recent bill on market regulation and supervision in depth. In particular, the meeting focused on the need to strengthen and reorganize the public regulatory authority system, simplifying the model of financial supervising, the appointment procedures and relations with Parliament.