There is much discontent among financial intermediaries and issuers in the financial market regarding the new fees to support the work of Consob, the stock exchange supervisor, for 2023. After years of modest tweaks and sometimes even reductions, a real sting is coming with total payments rising from 130 million euros in 2022 to 150 million euros in 2023 (+ 15 percent). The commission has also put its hand to the price hikes due to the depletion of resources it was authorized to use in the Covid years. If for issuers the tweaks were limited to 6 percent, Sims would suffer an aggravation of 20 percent, banks 23 percent, and regulated markets (Borsa Italiana and Mts) even 25 percent. Intermediaries' impatience also stems from the timing of the price increases, which were communicated when companies have already set their annual budgets and are grappling with a financial market conjuncture that certainly does not come in handy. Funding from traders goes to support the commission's expenses, among which those for gross staff salaries will rise by 8 percent this year, approaching 86 million. Consob is an army of generals. Of the 660 employees, as many as 557 are classified in the "managerial and senior professional" area. In 2015, there were 365 managers.
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