Consob: Freni Withdraws from Race, States Politics Should Not Be a Limit

Federico Freni, the Undersecretary of the Ministry of Economy and Finance (Mef), has officially withdrawn his candidacy for the presidency of Consob, Italy's National Commission for Companies and the Stock Exchange. In an exclusive interview with La Repubblica, Freni clarified his decision, emphasizing that he is not driven by internal disagreements but by the principle that political affiliation should not disqualify qualified candidates from leading independent regulatory authorities. He confirmed that Prime Minister Giorgia Meloni has acknowledged and accepted his withdrawal. When questioned about potential successors, specifically regarding rumors linking Forza Italia to candidate Cornelli, Freni declined to comment on individuals who have been vocal about him, stating he does not engage with those who talk excessively about his personal affairs. This development highlights ongoing tensions and debates within the Italian government regarding the appointment process for key financial regulatory roles and the intersection of political loyalty with institutional independence. The situation underscores the delicate balance between political oversight and the autonomy required for effective financial market supervision in Italy.