Consob provides clarification on the highly debated topic of selective disclosure of certain information by a listed company to its shareholders
2 April 2021

Consob recently published some Q&As on cases in which listed companies can establish information flows (including for information that is or could become price-sensitive) to shareholders and, in particular, to con-trolling shareholders.

Consob clarifies that controlling shareholders have no general right to obtain information from their listed subsidiaries’ BoDs except in certain cases set out by law.

In which cases controlling shareholders are specifically entitled to certain information from subsidiaries?

In which other cases is selective disclosure allowed?

Our Equity Capital Markets Focus Team breaks down all here.