Consob has ordered to be blacked out the following websites:
- “Bcs-gm” (website https://bcs-gm.com and related page https://my.bcs-gm.com);
- “Sigma Capital” (website https://sigmacap.co);
- “Capitalpartners24” (website https://capitalpartners24.eu);
- “SEGUROFX” (website https://segurofx.com and related page https://my.segurofx.com);
- “Mestieriplaza” (website www.mestieriplaza.com).
The number of websites blacked out since July 2019 has thus risen to 1084.
(Only in Italian)
IVASS has published its Supervisory Bulletin – Year XII – No. 4 – April 2024
When using AI, ESMA expects firms to comply with relevant MiFID II requirements, particularly when it comes to organisational aspects, conduct of business, and their regulatory obligation to act in the best interest of the client.
Although AI technologies offer potential benefits to firms and clients, they also pose inherent risks, such as:
- Algorithmic biases and data quality issues;
- Opaque decision-making by a firm’s staff members;
- Overreliance on AI by both firms and clients for decision-making; and
- Privacy and security concerns linked to the collection, storage, and processing of the large amount of data needed by AI systems.
Potential uses of AI by investment firm which would be covered by requirements under MiFID II include customer support, fraud detection, risk management, compliance, and support to firms in the provision of investment advice and portfolio management.
In the report ESMA sets out draft Regulatory Technical Standards on certain requirements in relation to conflicts of interest for crypto-asset service providers (CASPs) under MiCA, with a view to clarifying elements in relation to vertical integration of CASPs and to further align with the draft European Banking Authority (EBA) rules applicable to issuers of asset-referenced tokens (ARTs).
The RTS also contain updates on:
- requirements for the policies and procedures for the identification, prevention, management, and disclosure of conflicts of interest, considering the scale, the nature and the range of crypto-asset services provided, as well as
- details and methodology for the content of the disclosures of conflicts of interest.
The materials published today include:
- templates for the registers of information with example (in Excel);
- draft technical package for reporting, including data point model (DPM),annotated table layout and validation rules;
- optional tool (VBA macro) to assist with the conversion of Excel templates into .csv files and .zip files for their submission;
- frequently asked questions regarding the exercise.