Consob has adopted a set of measures with the target to ensure the operational continuity of the markets in a post-Brexit context.
In particular, Consob gave its authorization for operating in the United Kingdom to:
The European Securities and Markets Authority (ESMA) has today published a statement on its approach to the application of some key MiFID II/MiFIR and Benchmark (BMR) provisions should the United Kingdom (UK) leave the European Union (EU) under a no-deal Brexit.
ESMA’s statement aims to inform stakeholders on the approach it will take […]
[Newsflash n. 61]
On 28 February 2019, Consob has published a Warning for the intermediaries to be compliant with MiFID II rules on transparency of costs.
Compared to MiFID I, MiFID II transparency and disclosure regime requires a more significant and intensive pre- and post-trading activity to intermediaries to ensure that clients are continuously aware […]
Frankfurt, 19 February 2019 – Today, the European Insurance and Occupational Pensions Authority (EIOPA) issued Recommendations for the insurance sector in light of the United Kingdom (UK) withdrawing from the European Union without a withdrawal agreement. The Recommendations addressed to National Competent Authorities (NCAs) provide guidance on the treatment of UK insurance undertakings and distributors with […]
[Newsflash n. 60]
On 19 February 2019 the Bank of Italy published a Call on British financial institutions (banks, payment institutions and e-money institutions) that currently provide services in Italy via branches, under the freedom to provide services, or through distributors to send to their Italian clients a detailed, personalized and […]
The European Securities and Markets Authority (ESMA) has today announced that in the event of a no-deal Brexit, three central counterparties (CCPs) established in the United Kingdom (UK) – LCH Limited, ICE Clear Europe Limited and LME Clear Limited – will be recognised to provide their services in the European Union (EU). ESMA has […]
The European Insurance and Occupational Pensions Authority (EIOPA) welcomes the agreement reached by the European Parliament and the Members States on the proposal for a Pan-European Personal Pension Product, the PEPP.
Gabriel Bernardino, Chairman of EIOPA, said: “Today’s agreement is a key milestone in providing sustainable pensions and addressing the ever growing pensions gap in Europe. […]
04 February 2019
The Ministry of Economy and Finance announces transitional measures
[Newsflash n. 59]
On 24 January 2019, the Ministry of Economy and Finance published a press release stating that it has drafted – in close consultation with the regulatory authorities and after discussions with trade associations – necessary measures to ensure full continuity of regulated activities in […]
[Newsletter n. 15]
On the 1st of January 2019, the Budget Law for 2019 (Law No. 145/2018) came into force. This law contains, inter alia, certain provisions that have an impact on the domestic banking and financial regulatory framework. In particular, we have highlighted the following:
• [Venture Capital] the allocation of resources for […]