ITALY: CONSOB to Launch Pr.I.M.E. Prospectus IT System

Monday June 1 2026

Commissione Nazionale per le Societa e la Borsa (Consob) announced that a new Prospectus Integrated Management Environment (Pr.I.M.E) prospectus IT system will start on 15 June 2026. Pr.I.M.E, the single platform for managing the preliminary investigations of prospectuses and supplements of equity and non-equity securities and for their transmission to European Securities and Markets Authority (ESMA). It will replace the current Siproem and Deproem systems.

As of 15 June 2026, the new provision of art. 9, paragraph 1, of the Issuers’ Regulation, which repeals the obligation to file with Consob prospectuses and supplements of approved equity and non-equity securities.

With the repeal of the filing obligation, the latest version of the prospectus or supplement transmitted to Consob, through the Pr.I.M.E. system, for approval, will be the one that, once approved, Consob will transmit to ESMA.

This last version of the prospectus or supplement must be complete:

– the date of approval, indicated by the competent office

– all the required metadata, necessary for transmission to ESMA

The filing obligation remains for closed-end prospectuses and supplements of UCIs (Undertakings for Collective Investment of Savings): after the approval of Consob, they will continue to be deposited on the Deprof system, the single system for the acquisition of the offer documentation of mutual investment funds), which is also the basis for the fulfilment of the notification obligations to ESMA.

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