[Newsflash n. 51]
On 12 July 2018, ESMA updated its Question and Answers document on the implementation of investor protection topics under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The purpose of this Q&A is to promote common supervisory approaches and practices in the application of MiFID II/MiFIR.
This update concerns the topics […]
On 11 July 2018, the European Insurance and Occupational Pensions Authority (EIOPA) published the first set of Questions & Answers on the application of the Insurance Distribution Directive (IDD) and its implementing regulations.
These Q&As provide practical guidance on IDD in particular they address the requirements for the Product Oversight and Governance arrangements (see Delegated Regulation (EU) 2017/2358) […]
Legàlia per l’Ambiente: Legàlia is pleased to announce the launch on July 10 2018 of the citizens association Guglielmo Hüffer, a social green project to rescue the garden of Piazza Cairoli in Rome.
[Newsflash n. 50]
Further to the implementation in Italy of the Insurance Distribution Directive (2016/97/EU) (“IDD”) by legislative decree of 21 May 2018 published in the Italian Official Journal on 16 June 2018, which amended the Italian Financial Act (TUF) and the Code of Private Insurance Companies (CAP), CONSOB has launched a public Consultation to amend […]
[Newsletter n. 11]
On 22 June 2018 EBA launched a public consultation on its Guidelines on outsourcing that will repeal CEBS guidelines issued in 2006 (which only applied to credit institutions), in order to establish a more harmonized framework for the outsourcing arrangements of financial institutions. Indeed, requirements regarding outsourcing of banking activities by institution are not […]
[Newsflash n. 49]
On 28 June 2018 CONSOB and the financial advisors’ supervisor (“OCF”) signed a memorandum of understanding (“MOU”) in accordance to which certain functions have been transferred from the Italian Financial Authority (CONSOB) to the OCF.
Further to the approval of the OCF By-laws and Rules by the Minister of Finance on […]
The European Securities and Markets Authority (ESMA) has formally adopted final product intervention measures on the provision of contracts for differences (CFDs) and binary options to retail investors (see our Newsflash n. 45). The measures have been published in the Official Journal of the European Union (OJ) on 1 June 2018. They will start […]
[Newsflash n. 48]
On 28 May 2018 ESMA published the Final Report on the “Guidelines on certain aspects of the MiFID II suitability requirements”, which confirm, broaden and replace the existing MiFID I guidelines on suitability issued in 2012.
The Guidelines apply in relation to the provision of investment advice and portfolio management, whereby firms have […]
[Newsflash n. 47]
Il giorno 16 maggio 2018, il Consiglio dei Ministri ha approvato in via preliminare lo schema di decreto legislativo per l’adeguamento della normativa nazionale alle disposizioni MAR (Regolamento UE n. 596/2014). Le disposizioni MAR sono direttamente applicabili in Italia, salvo alcune previsioni, prevalentemente di carattere sanzionatorio, in relazione alle quali il Regolamento stabilisce […]
On 2 May 2018 the European Central Bank (ECB) published the European framework for Threat Intelligence-based Ethical Red Teaming (“TIBER-EU Framework”), the first Europe-wide framework for controlled and bespoke tests to improve the resilience of financial entities against sophisticated cyber attacks. It facilitates a harmonised European approach towards intelligence-led tests which mimic the tactics, […]