Consob has adopted two measures (Resolutions n. 21326 of 9 April 2020 and n. 21327 of 9 April 2020 only Italian version) which, in the context of the new powers given to the Authority by the “Business Decree” (Law Decree No 23 of 8 April 2020), provide for a regime […]
Consob, taking into account the epidemiological emergency from Covid-19, decides to:
[Newsflash n. 70]
Due to the strong market turbulences triggered in the last days by the Covid-19 pandemic, Consob has introduced a prohibition of net short positions (short selling and other bearish operations) for three months (Resolution n. 21303 of March 17, 2020), following the positive opinion of ESMA.
For the first […]
Consob, with Resolution no. 21302, has decided to renew the prohibition of short selling in 20 Italian shares pursuant to Article 23 of Regulation (UE) no. 236/2012.
The restriction will apply for the entire trading day of 17 March 2020.
Moreover, Consob has decided to start the procedure for the adoption of further restrictive measures pursuant to Article 20 of […]
Consob, with reference to the measures taken by the Italian Government in recent days to deal with the Coronavirus emergency, decides to suspend:
The goal is to guarantee […]
[Newsflash n. 69]
The effect of the coronavirus on the economy is badly affecting also the stock markets and action has been taken by the EU competent authorities to mitigate the amplifying impact of short-selling, to reduce volatility and avoid inappropriate behavior of speculative investors. In particular:
ITALY
Borsa Italiana is recovering after the shock of yesterday like […]
[Newsflash n. 68]
Following to the introduction in Italy of the notion of regulatory sandbox by the Law Decree n. 34/2019 (“Growth Decree”, as modified by the Law n. 58 of 2019), the Italian Ministry of Finance (“MEF”) submitted to public consultation a Draft Regulation to establish the criteria to use sandboxes and to regulate the […]
As of March 2020 our special partner Salvatore Providenti will leave the Firm to join Carbonetti Studio Legale. The cooperation between Legália and Salvatore Providenti – which may continue in other forms – has been one of mutual enrichment, thanks to the thirty-years experience of Mr Providenti as CONSOB lawyer and the proficient skills of […]
[Newsflash n. 67]
After complex negotiations, the EU and the UK agreed on a withdrawal agreement (European Union Withdrawal Agreement Act). The agreement, ratified by both parties, came into force on 31 January 2020 and, as a result, from 1 February 2020 the UK is no longer a member of European Union.
The agreement establishes a transitional […]
[Newsflash n. 66]
During the period of application of the legislative decree n. 129 of 2017, implementing EU Directive 2014/65/EU (“MiFID II”) and EU Regulation 2014/600/EU (“MiFIR”) in the Italian legal system, national Supervisory Authorities spotted certain issues in the transposing legislation and reported them to the Ministry of Finance (“MEF”).