The Ministry of Finance Decree No. 100 of 30 April 2021 regulating the operations and powers of the FinTech Committee, the steering committee set up at the Ministry of the Economy and Finance, and the conditions and procedures for conducting experiments in Italy in the field of techno-finance (FinTech), has come into force. 

ESMA has issued a Public Statement on the prospectus disclosure and investor protection issues raised by special purpose acquisition companies (SPACs).

The statement sets out ESMA’s expectations on how issuers should satisfy the specific disclosure requirements of the Prospectus Regulation to enhance the comprehensibility and comparability of SPAC prospectuses. This should help to ensure that […]

ESMA has launched a public consultation on its draft Guidelines for derivatives reporting under EMIR.  

The Consultation Paper includes draft Guidelines on a wide range of topics related to reporting, data quality and data access under EMIR Refit. ESMA has also published validation rules that clarify dependencies between data fields, as well as their […]

ESMA has launched seven public consultations to gather stakeholder feedback on how to implement its central counterparty (CCP) recovery mandates.

The seven consultation papers contain, among others, proposals for Draft Regulatory Technical Standards (RTS) on the methodology for calculation and maintenance of the additional amount of pre-funded dedicated own resources, Guidelines on the consistent application […]

(Only in Italian)

La Consob ha approvato le seguenti modifiche al Regolamento dei mercati organizzati e gestiti da Borsa Italiana S.p.A. approvate dal Consiglio di Amministrazione della società il 10 giugno scorso:

• MTA, MIV (Mercato degli investment vehicles) e MOT: integrazione della disciplina in tema di distribuzione sul mercato;
• MTA, MIV e MOT: disciplina del […]
  

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

• Lexis Solution LTD e “Ventera Group”(website https://venteragroup.com and https://clientzone.venteragroup.com);
• Donnybrook Consulting Ltd (website www.optimarket.cc);
• Scintilla Enterprise Ltd (website https://solidstocks.co and https://client.solidstocks.co).

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

With Notice of 7 July 2021, Consob announced its intention to comply with the Guidelines issued by ESMA on certain aspects of the MiFID II requirements relating to the compliance function.

These guidelines provide operational guidance on the role and responsibilities of the compliance function within the internal control system.

Intermediaries subject to […]

EIOPA published its Financial Stability Report, which addresses the main risks to financial stability in the European insurance and pension sector.

The Authority underlines that the pandemic crisis is not yet over and many uncertainties remain. The impact on the real economy has been reduced by comprehensive fiscal measures, but some negative effects may only become […]

EBA published final draft regulatory technical standards (RTS) and Implementing Technical Standards (ITS) on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.

These draft standards, developed in consultation with ESMA, provide a solid framework for (i) cooperation in the supervision of investment firm groups through colleges of supervisors and […]