An annual report marked by institutional continuity. At today’s annual meeting of the Market Supervisory Authority, Monday, July 13 at Piazza Affari, there is no official president, following the conclusion of Paolo Savona’s term. The report is presented by Chiara Mosca, deputy president. She is the one leading Consob, albeit in a transitional phase.
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Appointed Commissioner of Consob in August 2021 (officially taking office in September of the same year) with a seven-year term in March 2026, upon the expiration of outgoing president Paolo Savona’s term, she assumed the deputy presidency as the commissioner with the longest institutional seniority.
Consob remained without a designated president for months
The Authority remained without a designated president for months (it still is), resulting in a commissioner temporarily called to perform the president’s functions. This situation is not new: it has happened before, for example with Vittorio Conti between the departure of Lamberto Cardia and the appointment of Giuseppe Vegas, and with Anna Genovese during the transitions between Giuseppe Vegas and Mario Nava and, subsequently, between Mario Nava and Paolo Savona.
Expert in financial markets law and corporate governance
Commissioner of Consob since September 7, 2021, appointed on the designation of the Draghi government, Mosca has been performing the functions of deputy president since March 9, 2026, as the member with the longest seniority in the institution. She succeeded Savona, whose seven-year term ended on March 8.
Her profile is that of an associate professor of Commercial Law at the Department of Legal Studies of Bocconi University (currently on leave due to her role at Consob), expert in financial markets law and corporate governance. Her main research and expertise areas lie at the intersection of financial market regulation and corporate law, with a particular focus on corporate governance, market abuse, transparency, and public takeover bids (OPA). She is also a Research Fellow at Bocconi’s Baffi-Carefin Center.
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