Consob approved amendments to the Issuers Regulations concerning the simplification of the procedure for approving prospectuses.
With the entry into force of the new rules introduced with Resolution No. 22423 of 28 July 2022, a number of new features are introduced relating to:
  • abolition of the preliminary verification of the completeness of the documentation;
  • deadlines for the beginning of administrative proceedings, provided for from the date on which the relevant applications are sent to Consob;
  • the deadlines for the maximum duration of the proceedings and for the response to requests for additions to the prospectus have been eliminated and the timing has been aligned with the provisions of the Regulation (EU) No.2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market;
  • reduction of the documentation to be attached to draft prospectuses;
  • possibility for the issuer and/or the offeror to first submit to Consob issues of particular relevance relating to public offer transactions or admission to trading, in order to ease the promptness of the preliminary process;
  • introduction of the possibility to compile the prospectus in English, providing for the translation into Italian of the Summary Note only in the case of offers carried out entirely or partially in Italy, or if admission to trading on the Italian regulated market has been requested.
This Guidance is the national transposition of the Threat Intelligence‑Based Ethical Red teaming framework (TIBER-EU), issued by the ECB, a reference model for conducting advanced cybersecurity tests harmonised at the European level.
Financial entities carry out these tests, led by the cyber threat intelligence and according to their business and operating models and the relative risk scenarios. The goal is to strengthen the proactive defence capabilities of individual financial entities, making it possible improve the cyber resilience of the financial system as a whole and, therefore, its overall stability.
ESMA has published the new quarterly liquidity assessment for bonds as well as the data for the systematic internaliser quarterly calculations for equity, equity-like instruments and bonds under MiFID II and MiFIR.

EBA has published an updated version of its 5.2 filing rules document for supervisory reporting.
In particular, the update modifies rule 3.6 to redefine the condition to apply the new reporting subject and to explicitly instruct the usage of entity types to indicate aggregate levels in the reporting subject of an aggregate reporting document.

EIOPA has launched a public consultation relating to a draft supervisory statement on the use of governance arrangements in third countries.

EIOPA’s aim with the supervisory statement is to enhance the supervision and monitoring of insurance undertakings’ and intermediaries’ compliance with relevant EU legislation concerning governance arrangements in third countries.
The consultation will end on 31 October 2022.
EIOPA has published its Risk Dashboard based on Solvency II data from the first quarter of 2022.
The results show that insurers’ exposures to macro, market and digitalisation risks are currently the main concern for the insurance sector.
The other risk categories, such as insurance as well as profitability and solvency risks stay at medium levels.