PRIIPs: recent developments in EU and Italy
[Newsflash n. 20] EU Parliament approves 1-year delay On 1st December 2016, the European Parliament voted to support a 1-year delay of the implementation of the Regulation (EU) No. 1286/2014 on key information documents [...]
Italian pension funds: clarification on limits of investment in AIF
[Newsflash n. 19] In its response to a request for clarification on investment limits of pension funds in alternative investment funds (“AIF”) – in line with a 2014 position of the Council of State [...]
ECB launches a public consultation on a guide to the fit and proper assessments of bank board members
[Newsflash n. 18] On 14 November 2016 the European Central Bank (“ECB”) launched a public consultation concerning the criteria and procedures for determining suitability of bank board members.In the framework of the Single Supervisory Mechanism (“SSM”), [...]
CONSOB guidelines on the paragraph “Warning for the Investor” in Italian prospectuses
[Newsflash n. 17] On 28 October 2016 CONSOB issued Recommendation n. 0096857 (the “Recommendation”) on the drafting and inclusion of a paragraph “Warning for the Investor” (the “Warning”) in Italian prospectuses for public offering and/or [...]
CONSOB launches a public consultation for the implementation of MAR
[Newsflash n. 16] On 24 October 2016 CONSOB published a Consultation Paper on the proposals for certain amendments to CONSOB regulations on issuers (n. 11971/1999) and markets (n. 16191/2007), needed in order to implement the Market Abuse Regulation (EU Regulation [...]
CONSOB recommends using trading venues for public distribution of securities
[Newsflash n. 15] On 18 October 2016 CONSOB issued a Recommendation on the distribution of financial instruments (the “Recommendation”), after a public consultation launched on 9 May 2016 (see our Newsflash n. 7) as part [...]