Consob has ordered to be blacked out the following websites:

The number of websites blacked out since July 2019 has thus risen to 930.
Consob, Bank of Italy and IVASS has informed that from from 3 November to 5 December 2023 the second stage of experimentation of techno-finance (FinTech) activities in Italy will start off.
In this period operators in the sector will be able to apply for admission to the regulatory sandbox, a protected space for testing digital projects in the banking, financial and insurance sectors.

The experimentation – in accordance with the Decree No. 100 of 30 April 2021 of the Ministry of Economy and Finance – in fact allows supervised intermediaries and operators in the FinTech sector to test innovative products and services, being able to benefit from a simplified transitional regime and in constant dialogue with the Supervisory Authorities: Consob, Bank of Italy and IVASS.
(Only in Italian)
Bank of Italy has launched a public consultation on amendments to the provisions for banks, financial intermediaries, SIMs, SGRs, SICAVs and SICAFs on securitisation transactions.
Le modifiche sono funzionali all’adeguamento al regime del Regolamento (UE) 2017/2402 sulle cartolarizzazioni e norme specifiche per quelle semplici, trasparenti e standardizzate (STS).
Viene estesa agli intermediari finanziari di cui all’art. 106 TUB la normativa prudenziale delle banche per le esposizioni in cartolarizzazioni prevista dal Regolamento (UE) n. 575/2013 (CRR).
Le novità delle consultazione riguardano:
  • l’integrazione della comunicazione Banca d’Italia 21 dicembre 2022 nelle indicazioni operative per procedere alle notifiche delle operazioni di cartolarizzazione nelle suddette disposizioni, aggiornandoli per tener conto dello sviluppo della prassi applicativa;
  • le modalità di esercizio dei poteri di vigilanza rispetto agli obblighi del Regolamento cartolarizzazioni per i cedenti, prestatori originari e promotori, con riguardo in particolare alle operazioni miste in cui questi siano soggetti non vigilati;
  • l’estensione agli intermediari 106 del trattamento prudenziale delle esposizioni verso cartolarizzazioni che il CRR prevede per le banche.
La consultazione terminerà il 27 settembre 2023.
As a tool to fight fake websites, IVASS has published the list of websites disclosed by Italian intermediaries regularly registered with the RUI and by foreign intermediaries registered in the List attached to the RUI, used to promote or place insurance products.
(Only in Italian)
Covip has published the main statistical data as of June 2023 on supplementary pensions.
ESMA, in collaboration with EBA, has published a Report assessing the implementation of the Shareholder Rights Directive 2 (SRD2).
This assessment, carried out in response to a European Commission’s request, identifies areas for further progress and provides detailed suggestions for policy action in relation to the Directive’s effectiveness, difficulties in practical application and the appropriateness of the scope of application.

In the report, ESMA analyses the implementation of certain provisions in the SRD2 in the areas of proxy advisors and the investment chain:
  • For proxy advisors the current framework has proved robust overall. Still, certain improvements could be put in place, for example in connection to conflicts of interest. In addition, ESMA proposes the introduction of a registration mechanism for proxy advisors at the EU level.
  • For the investment chain, ESMA highlights the importance of making further efforts in the direction of a common definition of the term “shareholder” in line with Action 12 of the Commission’s CMU Action Plan. A number of additional technical improvements to streamline communication along the investment chain are also proposed, along with a call for increased transparency in relation to disclosing charges applied by intermediaries.