Wall Street

Italy’s market watchdog fines Cattolica, former execs in governance controversy

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Reuters UK

MILAN (Reuters) – Italy’s market watchdog Consob has fined Cattolica Assicurazioni and eight of the insurer’s former executives and auditors a total of 620,000 euros ($647,714) for misleading the market about its governance structure. Consob said in a statement that it had fined Cattolica 220,000 euros and five ex-board members, including former chairman Paolo Bedoni, 50,000 euros each for breaching transparency obligations to the market. Both Cattolica and Bedoni were not immediately available for comment. Investigations, which had started in 2020, found that the company’s corporate governanc…

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