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 [...]
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 [...]