Crowdfunding: CONSOB clarifications to ease access to capital market for SMEs
[Newsflash n. 55] On 29 November 2018, CONSOB published the Resolution n. 20686/2018 dated 9 November 2018 in the Italian Official Gazette, which amended Article 34-ter of CONSOB Issuers’ Regulation setting out the exemptions from the [...]
The New EU proposal for an E-privacy regulation
[Newsletter n. 13] On the 10th January 2017 the European Commission presented a proposal of regulation in relation to the processing of personal data and the protection of privacy in electronic communications, intended to supersede [...]
ICO and crypto-assets: CONSOB suspends two Initial Coin Offerings in Italy
[Newsflash n. 54] In the last two weeks Consob suspended two Initial Coin Offerings ("ICOs") promoted by non-Italian companies addressed to Italian investors: (i) the offer of token TGA by an English company "Togacoin LTD" [...]
Crypto-Assets and ICO: stakeholders advise ESMA on level 3 guidelines
[Newsletter n. 12] On 19 October 2018, the Securities and Markets Stakeholder Group (SMSG) – the group of experts with the task to facilitate consultation between ESMA, its Board of Supervisors and stakeholders and to [...]
CONSOB to help investors against unauthorized financial activities
[Newsflash n.53] On 18 October 2018, Consob, the Italian financial authority, launched the tool “Occhio alle truffe!” (“Be aware of frauds”) that allows investors to check whether or not the financial offer that they are [...]
ESMA: renewal prohibition of binary option
On 24 August 2018, the European Securities and Markets Authority (ESMA) has agreed to renew the prohibition of the marketing, distribution or sale of binary options to retail clients, in effect since 2 July, from 2 October [...]