FINTECH: first Italian regulatory sandbox launched by Ministry of Finance
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 [...]
ESMA confirms AFM’S ban on TURBOS and prompts other EU regulators to assess risks in their markets
[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 [...]
PATRIMONIO RILANCIO: CDP approves measures to support medium and large Italian companies
[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 [...]
CONSOB: Warning about web advertising of fictitious investments offering significant (often unlikely) returns
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 [...]
ESMA reminds firms of the MiFID II rules on reverse solicitation
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 [...]
BREXIT: British financial intermediaries operating in Italy
[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 [...]