MILAN, Oct 9 (Reuters) - Italy’s market regulator Consob said on Friday it was extending for another three months tougher disclosure requirements on shareholdings, introduced temporarily to counter market volatility caused by the new coronavirus.
Consob in March lowered disclosure thresholds for holdings in 48 listed Italian companies in an effort to stabilise markets at the height of the COVID-19 outbreak. In April it widened the transparency measures to cover 104 listed companies.
“A further extension has become necessary due to the ongoing uncertainty over how the economic and financial situation provoked by the COVID-19 pandemic may evolve,” Consob said in a statement.
The rules are extended until Jan. 13.
Under the measures, Consob lowered the disclosure threshold for holdings in larger companies to 1%, from 3%, and to 3% for smaller firms, from 5%.
It has also halved to 5% the threshold whereby investors must declare their future investment intentions in relation to a company. (Reporting by Valentina Za; Editing by Susan Fenton)
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