IVASS on IDD and product oversight and governance
[Newsflash n. 36] On 4 September 2017, IVASS - the Italian Insurance Authority - published a letter to the market (“Letter”) addressing the implementation in Italy of Directive 2016/97/EU on insurance distribution (“IDD”) and EIOPA [...]
ESAs provide guidance to prevent terrorist financing and money laundering in electronic fund transfers
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) released on September 22th 2017 guidelines to prevent the abuse of funds transfers for terrorist financing and money laundering purposes. These [...]
ECB: guide to assessments of FinTech Credit Institution License application
On 21 September 2017, ECB published a consultation for draft guides to bank licensing and fintech bank licensing. The main aim of the bank licensing guide is to provide useful guidelines and standards covering license [...]
Basel Committee launches public consultation on FinTech
The Basel Committee on Banking Supervision released on 31 August 2017 a consultative document on the implications of fintech for the financial sector. Sound practices: Implications of fintech developments for banks and bank supervisors assesses how technology-driven [...]
MiFID II in Italy: implementation in progress
[Newsletter n. 8] In view of its application as of 3rd of January 2018, Italy is moving forward in the implementation of MIFID II (Directive EU/2014/65) and delegated Directive at both primary and secondary [...]
ISDA publishes a white paper on Smart Contracts and DLT
Smart contracts and distributed ledger technology (DLT) are increasingly being seen as a way for the derivatives industry to realise operational efficiencies and cut costs. With these new technologies potentially transforming how derivatives are executed [...]