Consob

12/04/2021

Listed companies - enhanced transparency 

Consob published a press release announcing the non-extension of the temporary regime of enhanced transparency introduced on April 9, 2020, with reference to some Italian companies listed on the Stock Exchange.

For further information in English, click here. 

Italian government

08/04/2021

Interbank register of bad cheques and payment cards

The Bank of Italy’s measure of March 25, 2021 was published in the Official Gazette of the Republic of Italy. The measure amends the Regulation of the Governor of the Bank of Italy of January 29, 2002, on the interbank register of bad cheques and payment cards (in Italian ‘Centrale di allarme interbancaria’).

For further information in Italian, click here. 

Bank of Italy 

01/04/2021

Products oversight and governance  ̶ communication

Bank of Italy published a communication on product oversight and governance (POG) guidelines for retail banking products. The communication also contains a reference to financial inclusion requirements.

For further information in Italian, click here. 

Consob

25/03/2021

Supervised entities’ disclosure requirements

Consob published Resolution no. 21773, amending the “Manual of disclosure obligations of supervised entities” adopted by the same authority with Resolution no. 17297/2010.

For further information in Italian, click here.

IVASS

24/03/2021

Insurance and reinsurance undertakings’ capital add-ons 

IVASS published for consultation the draft regulation laying down provisions concerning capital add-on.

For further information in Italian, click here.

IVASS

23/03/2021

Amendments to IVASS regulations - FAQ

IVASS published some clarifications to frequently asked questions regarding its measure no. 97/2020 providing amendments to some of its regulations in force, including IVASS Regulation no. 40/2018 on insurance and reinsurance distribution.

For further information in Italian, click here. 

Consob

18/03/2021

Selective disclosure towards shareholders – Q&A

Consob published Q&A useful to clarify how listed companies can establish information flows concerning information that can take on a privileged nature with shareholders and, in particular, with the controlling shareholder.

The Q&A outline the conditions under which selective information can be considered legitimate towards the controlling shareholder and / or the shareholder who exercises management and coordination, always in compliance with the confidentiality constraints of the recipients of the information.

For further information in Italian, click here.

Banca d’Italia

17/03/2021

SFDR – communication

Bank of Italy published a communication concerning sustainability reporting requirements in financial services.

For further information in Italian, click here.

Consob

11/03/2021

Knowledge and competence - amendments to the Intermediaries’ Regulation

Consob published Resolution no. 21755, containing amendments to the regulation adopted by Resolution no. 20307 of February 15, 2018 (Intermediaries’ Regulation), on the knowledge and competence requirements of intermediaries’ staff.

For further information click here.

Borsa Italiana

05/03/2021

Amendments to MTF regulations 

Borsa Italiana published Notice no. 6764, containing some amendments to the MTF Regulations. In particular, the amendments concern the following aspects: (i) error management rules; and (ii) trading parameters. 

The amendments will enter into force on March 22, 2021.

For further information click here.

Borsa Italiana

01/03/2021

Amendments to the market regulations and related instructions 

Borsa Italiana published Notice no. 6024, containing some amendments to the Market Rules and the related instructions.

For further information click here.

Consob

01/03/2021

Non - financial information

Consob announced its supports to the recommendations on how to report the information necessary to assess climate change-related risks and opportunities, published in July 2017 by the Task Force on Climate-related Financial Disclosures (TCFD), established under the Financial Stability Board.

For further information click here.

Italian Government

24/02/2021

Prospectus Regulation – Italian implementation

Law Decree no. 17 of February 2, 2021 was published in the Official Gazette of the Republic of Italy on February 24, 2021. The Law Decree implements the Regulation (EU) 2017/1129 concerning the prospectus to be published for the securities offered to the public or admitted to trading on a regulated market.

For further information click here.

Borsa Italiana

17/02/2021

Amendments to the Guide to the parameters for trading

Borsa Italiana published Notice no. 4984, containing some amendments to the “Guide to the parameters for trading”, with specific reference to the IDEM Market.

For further information click here.

Consob 

16/02/2021

COVID-19  ̶  Crowdfunding 

Consob published Warning Notice no. 2/2021 on the impact of the COVID-19 emergency on the obligations of online portal managers for raising capital for small and medium-sized enterprises and social enterprises (so called ‘Crowdfunding Portals’).

For further information click here.

Bank of Italy

12/02/2021

Confidi  ̶  CMO

Bank of Italy announced that on February 10, 2020, the Organismo Confidi Minori (CMO) started managing the list of confidi pursuant to article 112 of the Italian Decree Law no. 385/1993 (the Italian consolidated law on banking). 

Therefore, as of February 11, 2021, the Bank of Italy ceased to hold the relevant section and the confidi still registered, which have not requested the enrolment to the new list held by the CMO, are consequently deleted by default.

For further information click here.