[Newsflash n. 33]
Today, 31 May 2017, ESMA has published an opinion (ESMA 42-110-433) setting out general principles aimed at supporting supervisory convergence in response to the increased requests from UK financial market participants seeking to relocate to the 27 Member States that will remain in the EU (EU27), in order to continue to benefit from access to […]
[Newsflash n. 32]
From day one after Brexit, rumours have been spreading throughout Europe about which city, if any, will become the new financial centre after London. In this race, Italy has been consistently left aside during mainly on the grounds of unfavourable taxation and employment system. For this reason, a timely reaction was strongly desired […]
[Newsflash n. 31]
On 18 May 2017, the European Banking Authority (“EBA”) launched a public consultation on its recommendations on the use of cloud services by financial institutions.
While a set of CEBS guidelines on outsourcing (“CEBS Guidelines”) have been introduced in 2006 for general outsourcing to a third party of activities that would normally be […]
On 19 December 2016, the Joint Committee of the European Supervisory Authorities (ESAs) launched a public consultation about the potential benefits and risks of Big Data for consumers and financial firms to determine whether any further regulatory or supervisory actions may be needed.
Big Data is a phenomenon linked to the ever increasing availability of data and advances in […]
Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry. Distributed ledger technology (DLT) is one such innovation that has been cited as a means of transforming payment, clearing, and settlement processes, including how funds are transferred and how securities, commodities, and derivatives are cleared and […]
[Newsflash n. 22]
Last 11th of December EBA launched a consultation on the draft Regulatory Technical Standards (RTS) on passporting pursuant to article 28(5) of the Payment Services Directive 2 (PSD2).
The PSD2 came into force on 12 January 2016 and is due to be implemented in all Member States on the 13th of January 2018.
The directive […]
The EPC publishes today two updated documents useful for payment services providers and their technical suppliers, in particular professionals dealing with payment security issues.
[Newsflash n. 21]
Social lending has now been recognized as official financing tool.
On 8 November 2016, Bank of Italy published the long-awaited Provisions concerning Savings Collection by Non-Banks (“Provisions”), which will enter into force as of 1 January 2017. The Provisions (which technically are an update of the Bank of […]
[Newsletter n. 5]
Very little has changed since we all learned of the outcome of the UK referendum on Brexit in June.
The UK Government is still investigating and discussing internal constitutional principles and requirements to trigger article 50 of the Lisbon Convention. Specifically, the question is whether the notification of withdrawal from the EU is within […]
[Newsflash n. 11]
On 21 September 2016 the Italian Ministry of Economic Development published the “Industry 4.0” national plan(*), which will be the basis of the upcoming Stability Law, with the objective to boost large-scale investments, innovation and productivity.
With this 13 billions Euro manoeuvre, the Government aims to activate innovative investments mainly by way of tax […]