[Newsflash n. 63]
Consob, following its previous resolutions (see our Newsflashes n. 54 and n. 58), continues its strict monitoring on activities concerning crypto-assets addressed to Italian investors.
During the first week of May, Consob published the following Resolutions, where it has reiterated its firm view regarding the dealing in cryptocurrencies, […]
[Newsletter n. 16]
On 19 March 2019 Consob published a Call for Evidence on Initial Coin Offerings and Crypto-Assets Exchanges (click here for the Italian version or the English version) to elaborate a regulatory framework where the rapidly expanding phenomenon of initial coin offerings (ICOs) can grow without jeopardizing […]
04 February 2019
[Newsletter n. 15]
On the 1st of January 2019, the Budget Law for 2019 (Law No. 145/2018) came into force. This law contains, inter alia, certain provisions that have an impact on the domestic banking and financial regulatory framework. In particular, we have highlighted the following:
• [Venture Capital] the allocation of resources for […]
[Newsflash n. 58]
Following the suspension of Initial Coin Offerings (“ICO”) of crypto assets (token TGA) promoted by an English company “Togacoin LTD” adopted by Consob on 31 October 2018 (see our Newsflash n.54), the Regulator resolved for the definitive ban of the Togacoin ICO, pursuant to Article 99 paragraph 1(d) of Italian Financial […]
[Newsflash n. 55]
On 29 November 2018, CONSOB published the Resolution n. 20686/2018 dated 9 November 2018 in the Italian Official Gazette, which amended Article 34-ter of CONSOB Issuers’ Regulation setting out the exemptions from the obligation to publish a prospectus, with particular regard to the threshold under which public offerings are exempted. In particular, CONSOB […]
[Newsflash n. 54]
In the last two weeks Consob suspended two Initial Coin Offerings (“ICOs”) promoted by non-Italian companies addressed to Italian investors: (i) the offer of token TGA by an English company “Togacoin LTD” (Resolution n. 20660 of 31 October 2018) and (ii) the offer of digital currency Crypton promoted […]
[Newsletter n. 12]
On 19 October 2018, the Securities and Markets Stakeholder Group (SMSG) – the group of experts with the task to facilitate consultation between ESMA, its Board of Supervisors and stakeholders and to provide technical advice on policy development of ESMA – sent a Report on Initial Coin Offerings and Crypto-Assets to ESMA to suggest […]
[Newsflash n.53]
On 18 October 2018, Consob, the Italian financial authority, launched the tool “Occhio alle truffe!” (“Be aware of frauds”) that allows investors to check whether or not the financial offer that they are considering to accept is promoted by authorized entities.
This tool allows investors to quickly and easily access Consob databases in order […]
[Newsletter n. 11]
On 22 June 2018 EBA launched a public consultation on its Guidelines on outsourcing that will repeal CEBS guidelines issued in 2006 (which only applied to credit institutions), in order to establish a more harmonized framework for the outsourcing arrangements of financial institutions. Indeed, requirements regarding outsourcing of banking activities by institution are not […]