[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 […]
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 […]
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 […]
Consob, taking into account the epidemiological emergency from Covid-19, decides to:
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:
ITALY
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 […]