Consob is entrusted with ensuring the transparency, BIS Review 40/1998  ˝  -8˝  correctness and regularity of trading, while the Bank of Italy is responsible for the controls aimed at protecting investors and ensuring the capital adequacy and stability of intermediaries.
Faced with the continuous and at times tumultuous development of financial markets, the debate on the optimal organization of supervisory controls sometimes appears to be conducted at an excessively abstract level. The experience of recent years shows that supervisory arrangements must be constantly adapted to the situations created by financial and technological innovation.