(Only in Italian)

L’IVASS ha aggiornato la FAQ per le imprese con sede legale in un Paese dello Spazio Economico Europeo che intendono operare in Italia in regime di stabilimento o di libera prestazione di servizi.

The Single Resolution Board (SRB) has published its dashboard on minimum requirements for own funds and eligible liabilities (MREL) for the reporting period of Q3 2021.
The dashboard shows that overall banks continue to make progress in increasing their level of MRELs, the financial instruments that each bank must possess to absorb losses and recapitalise in the event of failure.
The final target date for accumulation is 1 January 2024 and the intermediate binding target date was 1 January 2022. The dashboard shows that deficits against the 2024 target were reduced over the reporting period and most banks closed or reduced their deficits against the 2022 interim target in that quarter.

ESMA has sent a letter to the European Commission (EC) providing its views on the clearing obligation for Pension Scheme Arrangements (PSA) and recommending the end of the current exemption from the clearing obligation with a one year implementation period.

ESMA, following its assessment, concludes that PSAs are, to a large extent, operationally ready to clear their OTC derivatives but they should be given sufficient time before a clearing obligation for PSAs takes effect.

Therefore, ESMA recommends to start applying the clearing obligation to PSAs from 19 June 2023.

ESMA has made available the new quarterly liquidity assessment for bonds, the data for the systematic internaliser quarterly calculations for equity, equity-like instruments, bonds and for other non-equity instruments and the consolidated tape provider (CTP) data under MiFID II and MiFIR.

IOSCO consulted on a report to assist its members in adapting regulatory and enforcement approaches to the challenges posed by the increasing use of digitalisation for the marketing and distribution of financial services and products to retail investors.  Consob contributed actively to the preparation of the report, and to coordinating work on identifying measures that could help strengthen the effectiveness of enforcement activities.