Consob has ordered the blackout of 3 new websites that abusively offer financial services:

The number of websites blacked out since July 2019 has thus risen to 485.

(Only in Italian)

Con nota n. 11 del 7 luglio 2021, la Banca d’Italia ha comunicato la propria volontà di conformarsi agli Orientamenti emanati dall’ESMA su alcuni aspetti dei requisiti della MiFID II relativi alla funzione di controllo di conformità alle norme.

Gli Orientamenti specificano alcuni aspetti applicativi relativi ai requisiti della funzione di controllo di conformità (compliance), disciplinati dal Regolamento Delegato (UE) 2017/565 che integra la Direttiva MiFID II per quanto riguarda, in particolare, i requisiti organizzativi dei soggetti che prestano servizi di investimento.

Questi Orientamenti si applicano alle banche nella prestazione di servizi e attività di investimento, alle SIM e alle SGR nella prestazione dei servizi e attività di investimento consentiti.

EIOPA issued today three publications as part of its activities on sustainable finance:

  • Pilot dashboard for the natural catastrophe protection gap: EIOPA’s first pilot dashboard depicts the insurance protection gap for natural catastrophes in Europe. The pilot dashboard brings together data on economic and insured losses, vulnerabilities and exposure, as well as insurance coverage across the EU Member States. The dashboard will help in identifying regions at risk, the drivers of a climate-related insurance protection gap, as well as defining proactive prevention measures.
  • Methodological paper for integrating climate change in underwriting risk capital charge of the Solvency II standard formula: EIOPA proposes methodological steps which support the need to formalise an approach to re-assess and, where needed, recalibrate parameters for the natural catastrophe risk module of the Solvency II standard formula on a regular basis. The regular re-assessment or recalibration would integrate new considerations such as use of models, which explicitly consider climate change, as well as the possibility to include new countries.
  • Report on non-life underwriting and pricing in light of climate change: The report investigates the opportunity for (re)insurers, as risk managers and underwriters, to contribute to climate adaptation and mitigation, by supporting the insurability of climate change-related risks. Through risk-based pricing, contractual terms, and underwriting strategy (re)insurers should consider implementing measures for climate change adaptation and/or mitigation.