CONSOB suspends the deadline for the payment of supervisory contributions and extends the suspension of all the terms of the proceedings under way at the ACF
Consob, taking into account the epidemiological emergency from Covid-19, decides to:
- suspend until May 15, 2020 the deadline, already set for April 15, for the payment of supervisory contributions for 2020 due by Italian and foreign supervised entities (resolution no.21305 of March 18, 2020).
- further extend, from March 22 to April […]
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 […]
[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:
Borsa Italiana is recovering after the shock of yesterday like […]
[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 […]
[Newsflash n. 67]
After complex negotiations, the EU and the UK agreed on a withdrawal agreement (European Union Withdrawal Agreement Act). The agreement, ratified by both parties, came into force on 31 January 2020 and, as a result, from 1 February 2020 the UK is no longer a member of European Union.
The agreement establishes a transitional […]
[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”).
[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 […]
The EBA calls on the European Commission to take action to facilitate the scaling up of cross-border activity
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 […]
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 […]