On 17 April 2019, the European Securities and Markets Authority (ESMA) adopted a Decision under Article 40 of Regulation (EU) No 600/2014 to renew the restriction on the marketing, distribution or sale of contracts for differences (CFDs) to retail clients. The Decision renews ESMA Decision (EU) 2018/796 on the same terms as the previous renewal decisions, […]
[Newsflash n. 62]
As anticipated in January 2019 by the Ministry of Economy and Finance (see our Newsflash n. 59), on 26 March 2019, the Law Decree No. 22/2019 (“Stability Decree”) came into force introducing a temporary permission regime setting out the procedure that will allow […]
[Newsletter n. 16]
On 19 March 2019 Consob published a Call for Evidence on Initial Coin Offerings and Crypto-Assets Exchanges (click here for the Italian version or the English version) to elaborate a regulatory framework where the rapidly expanding phenomenon of initial coin offerings (ICOs) can grow without jeopardizing […]
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 […]
[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 […]
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 […]