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 [...]
ESMA guidelines for cloud outsourcing
[Newsflash n. 73] Following the consultation launched on June 3 2020, on 18 December 2020 ESMA published the final report on its guidelines on outsourcing to cloud service providers (CSPs). The guidelines are intended to [...]
PRIIPS: New procedure for accessing the KIDs of the PRIIPs and related structured data
On 15 December, a new procedure for accessing documents containing key information, the so-called KID of the PRIIPs - pre-assembled retail and insurance investment products - was defined with the obligation to make the PRIIPs-related [...]
ESMA renews its decision requiring net short position holders to report positions of 0.1% and above
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market, [...]