Speaking at the weekend, Italy's European Affairs Minister, Rocco Buttiglione revealed that the Italian authorities are planning to introduce new rules designed to strengthen investor protections in the wake of the collapse of Parmalat.
Mr Buttiglione explained that the measures, which come ahead of a far-reaching reform of the country's financial supervisory regime, are likely to include the imposition of stronger sanctions for those found to have committed financial crimes, and the establishment of an ombudsman for defrauded investors.
He went on to explain that the ombudsman will mediate between banks and aggrieved investors. However, he also suggested that where banks have sold risky bonds to inexperienced clients, there is an obvious "moral obligation" for the banks to offer compensation.
According to the European Affairs Minister, discussion on the strengthening of sanctions for crimes which affect investors will be discussed at the next cabinet meeting.
.Tags: Italy | Italy
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