[Newsflash n. 6]
The European Securities and Markets Authority (ESMA) has updated its Q&A on prospectus related issues.
The updates concern: (i) the possibility for a base prospectus (BP) to include an additional column to reflect recent or future material changes to the capitalisation and indebtedness statements, (ii) the possibility to continue a public offering beyond the […]
[Newsflash n. 5]
Taking on board the warning from ESMA about the exceptional technical implementation challenges faced by regulators and market participants, the European Commission issued a proposal for a directive to grant national competent authorities and market participants one additional year to comply with the rules set out in MiFID II.
The proposed new deadline is […]
[Newsflash n. 5]
Borsa Italiana amended the Instructions accompanying the Rules of the Market regarding the modality of the delisting of warrants.
In order to ensure the possibility to exercise financial instruments deriving from the settlement of instruments traded on the last trading day, it is foreseen that warrants shall be delisted on the second open TARGET […]
[Newsflash n. 4]
In view of a more efficient investor protection, on 8 January 2016, CONSOB launched the public consultation concerning the “Regulation on the alternative dispute resolution mechanism for financial disputes” (“ADR Regulation”).
The new mechanism envisages the creation of an entity (hereinafter “ADR Body”) along the line of the system already tested by Bank of […]
[Newsflash n. 3]
Better products, more choice, and greater opportunities for consumers and businesses
On 10 December, the European Commission published a Green Paper* on retail financial services.
The paper analyses the current state of the retail financial services markets, highlighting the current market fragmentation and insufficient competition, as well as the increased impact of digital technology on […]
[Newsflash n. 2]
Today, 4 December 2015, the Joint Committee of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has launched a Discussion Paper on automation in financial advice to assess what action, if any, is needed to enhance the potential benefits of this innovation and mitigate its risks.
Automation in financial advice – […]
[Newsflash n. 1]
On November 3rd 2015, CONSOB informed the market that CONSOB Regulation on Issuers has been amended by Resolution n. 19430 of 29 October 2015 (still to be published on the Italian Official Gazette).
The amendments – implementing in Italy the recent changes to article 5 of the Prospectus Directive (2003/71/EC) introduced by the Omnibus […]