The Italian Securities Commission (Consob) issued a resolution to simplify the listing of investment funds in Italy, aiming to align national requirements with those in other European Union countries. The changes remove a key documentation step for certain exchange traded funds (ETFs) and adjust prospectus information requirements for some Italian funds. For ETFs, the measure eliminates the obligation to prepare and publish a listing document in Italy for European undertakings for collective investment in transferable securities (UCITS) and for reserved open-ended alternative investment funds managed by European companies. The resolution also amends the appendix to the regulatory template governing the information to be included in the prospectus when Italian open-ended collective investment schemes are admitted to trading. The decision reflects feedback from a market consultation that closed on 12 July 2025, in which most respondents supported the proposed simplifications. The changes take effect the day after the resolution is published in the Official Gazette and apply to listing procedures that are already ongoing at that time.

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