Italy details enforcement of gender balance for boards

The Italian securities regulator Consob is modifying its procedures for monitoring board composition in light of the enactment of gender balance for listed companies. Some women may wonder how successful the exercise will be when the enforcers themselves use the shorthand "quota rosa" or "pink quota" to describe the provision. Still, it promises that sanctions will be applied: "If the composition of the board resulting from the election does not comply with the division criterion, Consob will warn the company to comply with the legislative provisions within the maximum term of four months. In the event of non-compliance, Consob will impose a fine and set a new term of three months within which the company will be obliged to adjust the composition of its boards."

Source document: The Consob newsletter, in English, has gender quotas as the second item.