(Only in italian)
Con Avviso del 31 marzo 2023, Consob ha comunicato di aver raccolto in un documento unico le comunicazioni sulla disciplina in materia di prospetti informativi.
Dopo l’ultimo intervento regolamentare dell’agosto 2022 la Consob ha attuato uno sfoltimento e un riordino delle sue comunicazioni succedutesi nel tempo, raccogliendole in un unico documento, che fornisce […]
Newsletter no. 24
On 9 March 2023, the Italian Government approved the Legislative Decree (the “Decree”) implementing Regulation (EU) 2020/1503 on crowdfunding service providers for business (the “Regulation”) into Italy, which amended certain provisions of the Italian Financial Act (Legislative Decree No. 58/1998, “IFA”).
The Decree introduces Article 4-sexies.1 IFA which designate Consob as […]
On 11 May 2022, the European Commission has adopted a reform of the current EU rules on Distance Marketing of Consumer Financial Services.
Following the significant evolution of the sector over the last 20 years, the distance marketing of financial services to the public has seen many of the circumstances regulated by Directive 2002/65/EC on […]
THE FINTECH COMMITTEE AND THE REGULATORY SANDBOX FOR THE DIGITALIZATION OF THE FINANCIAL SERVICES OF THE COUNTRY ARE UNDERWAY (JOIN PRESS RELEASE OF BANK OF ITALY, CONSOB, IVASS AND MINISTRY OF ECONOMY AND FINANCE OF 17 JULY 2021)
The decree governing the operations and the powers of the FinTech Committee as the control room […]
[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 […]
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 […]
[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 […]
[Newsflash n. 73]
Following the consultation launched on June 3 2020, on 18 December 2020 ESMA published the final report on its guidelines on outsourcing to cloud service providers (CSPs). The guidelines are intended to help companies identify, address, and monitor risks arising from cloud outsourcing arrangements and provide guidance to companies on a number […]
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 […]
[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 […]