14 04, 2020

Enhanced Transparency: CONSOB introduces new rules on disclosure of significant shareholdings and “declaration of intentions”.

By | April 14th, 2020|Capital Markets, Finance, Financial Regulation, Uncategorized|

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 […]

18 03, 2020

CONSOB: 3 months ban to short selling on the entire stock exchange list and enhanced transparency

By | March 18th, 2020|Capital Markets, Finance, Newsflash, Payment Services|

[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 […]

16 03, 2020

CONSOB renews the prohibition of short selling for 20 Italian shares on 17 March 2020

By | March 16th, 2020|Capital Markets, Finance, Financial Regulation, Insurance, Payment Services, Uncategorized|

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 […]

13 03, 2020

SHORT SELLING: Temporary ban on several stocks

By | March 13th, 2020|Capital Markets, Finance, Financial Regulation, Insurance, Newsflash, Payment Services, Uncategorized|

[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 […]

12 03, 2020

FinTech: consultation on Italian FinTech Sandbox

By | March 12th, 2020|Capital Markets, Finance, Financial Regulation, FinTech, Newsflash|

[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 […]

16 01, 2020

MiFID II: new provisions to supplement the Italian implementing legislation

By | January 16th, 2020|Capital Markets, Finance, Financial Regulation, FinTech, Insurance, Newsflash|

[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”).

Following a

28 11, 2019

Equity and “debt” crowdfunding: new financing tools for SMEs

By | November 28th, 2019|Business Transactions, Capital Markets, Commercial, Finance, Financial Regulation, FinTech, Newsletter, Payment Services, Technology, Communications and Payments|

[Newsletter n. 17]

Italy has been the first EU Member State to equipe itself with a regulation for equity crowdfunding in 2013 (Consob Regulation no. 18592 of 26 June 2013) (“Crowdfunding Regulation”) and now a further step to foster this successful financing tool has been added to the existing infrastructure.
On 25 October 2019, the Crowdfunding […]

11 11, 2019

The EBA calls on the European Commission to take action to facilitate the scaling up of cross-border activity

By | November 11th, 2019|Capital Markets, Finance, Financial Regulation, FinTech, Payment Services, Uncategorized|

The European Banking Authority (EBA) published today a report identifying potential impediments to the cross-border provision of banking and payment services in the EU. Developed under the EBA’s FinTech Roadmap, this Report calls on the European Commission to facilitate cross-border access, including the update of interpretative communications on the cross-border provision […]

11 11, 2019

EBA publishes Opinion on disclosure to consumers buying financial services through digital channels

By | November 11th, 2019|Capital Markets, Finance, Financial Regulation, FinTech, Payment Services, Technology, Communications and Payments, Uncategorized|

The European Banking Authority (EBA) published today an Opinion addressed to the EU Commission with recommendations to ensure that disclosure requirements in EU law take account of the increasing use of digital marketing channels for financial services and the resultant issues potentially affecting consumers. The recommendations relate primarily to the scope and consistency of disclosure […]

19 09, 2019

Prospectus Regulation: Consob adapts national regulation regarding Risk Factors

By | September 19th, 2019|Capital Markets, Finance, Financial Regulation|

Warning Notice no. 4/2019 of September 18, 2019

Subject: ESMA guidelines on risk factors pursuant to the new Prospectus Regulation and revocation of CONSOB Recommendations n. 7105108 (29.11.2007) and n. 0096857 (28.10.2016) concerning, respectively, the risk factors and the “Warnings for the investor “of the prospectuses.

Prospectus Regulation (Reg. […]

Load More Posts