Newsletter no. 21
On 17 February 2022, the Decree of the Ministry of Economy and Finance (“MEF Decree” or “Decree“) was published on the Italian Official Journal, setting out the methods and timing by which providers of services related to the use of virtual currencies and providers of digital wallet services are […]
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On 8 November 2021, Consob issued a document containing the guidelines of the scrutiny and approval process to be followed by the issuer, the offeror or the person asking for admission to trading on a regulated market, in order to obtain the approval before publishing a prospectus for the offer to the public or admission of securities […]
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 […]
[Newsletter n. 19]
On May 26, 2021, the Shareholders’ Meeting of Cassa Depositi e Prestiti (CDP) approved the Patrimonio Rilancio (also known as “Patrimonio Destinato”) set out by Law Decree no. 34 of 2020.
Patrimonio Rilancio is an extraordinary and temporary measure (with a deadline of twelve years, that may be […]
Consob warns savers, with a specific Warning, about the advertising campaigns carried out through internet which foreshadow the possibility of gaining significant (often unlikely) financial returns in exchange of the proposed purchase of shares of well-known international technological and commercial companies, of renowned football clubs and/or crypto-currencies.
These initiatives could be aimed at the acquisition of […]
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 […]