Bank of Italy on collection of savings by non-banks
[Newsletter n. 3] On 19 November 2015, the Bank of Italy launched a public consultation on the draft amendments to the Bank of Italy Supervisory Rules (Title IX, Chapter 2) (“Rules”) concerning the regime [...]
EC to improve retail financial services (with a light on digitalization)
[Newsflash n. 3] Better products, more choice, and greater opportunities for consumers and businesses On 10 December, the European Commission published a Green Paper* on retail financial services. The paper analyses the current state [...]
PRIIPs: ESAs joint consultation on RTS for KID
[Newsletter n. 2] On 9 December 2015, ESAs (EBA, EIOPA and ESMA) held a public hearing in Frankfurt to discuss the joint consultation launched on 11 November 2015 to gather stakeholders' views on the draft [...]
European Regulators turn attention on “robo-advising”
[Newsflash n. 2] Today, 4 December 2015, the Joint Committee of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has launched a Discussion Paper on automation in financial advice to assess what [...]
CONSOB repeals obligation to file “passported” final terms
[Newsflash n. 1] On November 3rd 2015, CONSOB informed the market that CONSOB Regulation on Issuers has been amended by Resolution n. 19430 of 29 October 2015 (still to be published on the Italian [...]
Bank of Italy implements article 129 of the Italian Banking Act
[Newsletter n. 1] The Italian financial market still remembers December 2006, when article 129 of Legislative Decree no. 385 of 1 September 1993 ("TUB" – Consolidated Banking Act) was amended by repealing the pre-vetting [...]