Finance – Page 15

10 01, 2017

IVASS: draft letter to the market on product oversight and governance arrangements

By Legália| 2017-03-20T08:14:59+00:00 January 10th, 2017|Finance, Insurance|

IVASS launches consultation on a “letter to the market” regarding the implementation of the EIOPA “Preparatory Guidelines on product oversight and governance (POG) arrangements by insurance undertakings and insurance distributors” .

On 13 April 2016 EIOPA published such guidelines with the aim of preparing the European insurance market to the implementation of the Insurance Distribution Directive 2016/97, which is […]

3 01, 2017

Robo-advice: ESAs’ conclusions on automation in financial advice

By Legália| 2017-02-13T12:51:05+00:00 January 3rd, 2017|Finance, FinTech, Newsletter|

[Newsletter n. 6]

IT-related and web-based automation is transforming the provision of financial services and FinTech is rapidly and intensely developing worldwide.

In particular, a growing number of financial institutions, often referred to as “robo-advisors”, now provide advice or recommendations to consumers through automated tools, “which can potentially change the way consumers and financial institutions interact when buying or selling financial products”. Therefore, automation, specifically in the provision of […]

30 12, 2016

IVASS issues clarifications on the assessment of technical reserves

By Legália| 2017-03-20T08:17:36+00:00 December 30th, 2016|Finance, Insurance|

On 30 December 2016, IVASS issued a Clarification on the provisions of Regulation No. 27 of 15 October 2008, as amended by Regulation No. 24 of 6 June 2016 (see our Newsflash n. 8), on the assessement of technical reserves for some specific contracts (“Clarification”).

In particular:

For index-linked contracts and contracts directly linked to […]

20 12, 2016

Capital markets union: Council confirms deal on prospectus rules

By Legália| 2017-03-20T08:16:40+00:00 December 20th, 2016|Capital Markets, Finance, Financial Regulation|

On 20 December 2016, the Permanent Representatives Committee approved, on behalf of the Council, an agreement with the European Parliament on prospectuses for the issuing and offering of securities.

“This regulation will help companies gain access to European capital markets by reducing some of the administrative formalities”, said Peter Kažimír, Slovak minister for finance and president of […]

20 12, 2016

The Bank of Italy and ABI sign an agreement to enhance cybersecurity

By Legália| 2017-02-13T12:51:05+00:00 December 20th, 2016|Finance, FinTech|

Rome, 20 December 2016

CERTFin, the new organization highly specialized in cybersecurity for the banking and financial sectors, has been established to prevent and combat cyber threats linked to the development of new technologies and to the digital economy.

The Bank of Italy, together with […]

20 12, 2016

COVIP: Overview on investment policies of Italian “Casse Professionali”

By Legália| 2017-03-20T08:16:07+00:00 December 20th, 2016|Finance, Financial Regulation|

On 20 December 2016, Covip (the Italian Pension Funds Authority) published a survey on the investment policies adopted by self-employment pension funds (Casse Professionali) during year 2015 (“Document”).

The Document firstly assesses the allocation of financial resources between the different asset classes and, in particular:

19 12, 2016

European Supervisory Authorities consult on Big Data

By Legália| 2017-03-20T08:18:30+00:00 December 19th, 2016|Commercial, Finance, FinTech|

On 19 December 2016, the Joint Committee of the European Supervisory Authorities (ESAs) launched a public consultation about the potential benefits and risks of Big Data for consumers and financial firms to determine whether any further regulatory or supervisory actions may be needed.

Big Data is a phenomenon linked to the ever increasing availability of data and advances in […]

19 12, 2016

ESMA sets timetable for MIFID II waiver applications

By Legália| 2016-12-19T13:58:32+00:00 December 19th, 2016|Capital Markets, Finance, Financial Regulation|

The European Securities and Markets Authority (ESMA) has updated two Questions and Answers (Q&A) documents regarding implementation issues relating to transparency topics and market structures topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

Transparency
The new MiFID II transparency regime, which requires trading venues to […]

19 12, 2016

ESMA prepares for MIFID II commodity derivatives regime

By Legália| 2017-03-20T08:29:21+00:00 December 19th, 2016|Capital Markets, Finance, Financial Regulation|

The European Securities and Markets Authority (ESMA) has published a new questions and answers (Q&A) document on commodity derivatives topics under the revised Markets in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

MiFID II applies from 3 January 2018 and the purpose of this Q&A is to promote common supervisory approaches […]

19 12, 2016

ESMA agrees with the MAR accepted market practice (AMP) on liquidity contracts proposed by spanish regulator Comisión Nacional del Mercado de Valores (CNMV)

By Legália| 2017-02-13T12:51:05+00:00 December 19th, 2016|Capital Markets, Finance, Financial Regulation|

The Opinion relates to the accepted market practice (AMP) notified by the CNMV, the Spanish securities markets regulator. This AMP refers to liquidity contracts by which a credit institution or investment firm (financial intermediary) quotes in the equity market on behalf of the issuer, with a view of reinforcing liquidity in that share. […]