9 06, 2021

ESMA confirms AFM’S ban on TURBOS and prompts other EU regulators to assess risks in their markets

By | June 9th, 2021|Capital Markets, Finance, Financial Regulation, Newsflash|

[Newsflash n. 75]

AFM (the Dutch financial authority) has taken product intervention measures in accordance with Article 42 of MIFIR (Regulation (EU) No 600/2014) and notified all other NCAs and ESMA of the details of its proposed measure. On 7 June 2021 ESMA issued its Opinion ESMA35-43-2524, concluding that the proposed measures are justified and […]

3 06, 2021

PATRIMONIO RILANCIO: CDP approves measures to support medium and large Italian companies 

By | June 3rd, 2021|Capital Markets, Commercial, Corporate, Finance, Newsletter|

[Newsletter n. 19]

On May 26, 2021, the Shareholders’ Meeting of Cassa Depositi e Prestiti (CDP) approved the Patrimonio Rilancio (also known as “Patrimonio Destinato”) set out by Law Decree no. 34 of 2020.
Patrimonio Rilancio is an extraordinary and temporary measure (with a deadline of twelve years, that may be […]

15 01, 2021

ESMA reminds firms of the MiFID II rules on reverse solicitation

By | January 15th, 2021|Capital Markets, Financial Regulation, Uncategorized|

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is issuing a Public Statement to remind firms of the MiFID II requirements on the provision of investments services to retail or professional clients by firms not established or situated in the European Union (EU).

With the end of the UK […]

6 01, 2021

BREXIT: British financial intermediaries operating in Italy

By | January 6th, 2021|Capital Markets, Finance, Financial Regulation, Newsflash, Payment Services|

[Newsflash n. 74]

On 31 December 2020 the Italian Government has issued Law Decree No. 183 (c.d. “Milleproroghe Decree”), which (under Section 22) sets out provisions governing the operation of British financial intermediaries and insurance companies after the expire of the transitional period on 31 December 2020 (“Transitional Period”) envisaged by […]

18 12, 2020

PRIIPS: New procedure for accessing the KIDs of the PRIIPs and related structured data

By | December 18th, 2020|Capital Markets, Finance, Financial Regulation, Uncategorized|

On 15 December, a new procedure for accessing documents containing key information, the so-called KID of the PRIIPs – pre-assembled retail and insurance investment products – was defined with the obligation to make the PRIIPs-related information and structured data marketed in Italy accessible to Consob (Resolutions no. 21639 and n. 21640 of 15 December 2020 – Only Italian […]

17 12, 2020

ESMA renews its decision requiring net short position holders to report positions of 0.1% and above

By | December 17th, 2020|Capital Markets, Finance, Uncategorized|

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market, to notify the relevant national competent authority (NCA) if the position reaches, exceeds or falls below 0.1% of the issued […]

1 12, 2020

CDP LAUNCHES THE RELAUNCH FUND FOR START-UPS AND INNOVATIVE SMES

By | December 1st, 2020|Capital Markets, Finance, Newsflash, Uncategorized|

[Newsflash n. 72]

CDP Venture Capital SGR has set up a new “Fondo Rilancio”, which will invest the 200 M€ allocated by the Decreto Rilancio in Startups and Innovative SMEs.

CDP Venture Capital SGR set up a fund (the “Fondo Rilancio” – “Fund”), in charge of allocating 200 million euros, allotted by the Ministry of Economic […]

24 11, 2020

FINTECH: new EU Digital Finance Package

By | November 24th, 2020|Capital Markets, Finance, Financial Regulation, FinTech, Newsletter|

[Newsletter n. 18]

The EU Commission adopts a new set of measures to foster FinTech

On 24 September 2020, the European Commission has adopted a new Digital Finance Package that encompasses a broader strategy for digital finance and legislative proposals on crypto-assets and digital resilience. The goal is to make the EU financial sector more competitive so […]

10 08, 2020

PRIIPs: Consob consultation on new data exchange requirements for KIDs

By | August 10th, 2020|Capital Markets, Finance, Financial Regulation, Newsflash|

[Newsflash n. 71]

Following the abrogation of Article 4-decies of Legislative Decree no. 58/1998 (Consolidated Finance Act, TUF) and the consequent repeal of the obligation of prior notification to Consob of PRIIPs KID (see our Newsflash no. 39), on 30 July 2020 Consob launched a public Consultation concerning certain amendments to Artcile 34-bis of Consob […]

22 06, 2020

MONTE TITOLI: new direct payment service for covered warrants and certificates

By | June 22nd, 2020|Capital Markets, Finance, Financial Regulation, Uncategorized|

Market Notice of 15 June 2020: amendments to Instructions for the CSD Service and for the Settlement Service and related instrumental activities.

Instructions of the CSD Service have been amended to introduce the possibility for issuers to instruct Monte Titoli for the payment of the amounts resulting from the exercise of covered warrants and certificates providing […]

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