Covip
11/06/2021
IORP II – bylaws scheme
Covip issued a resolution on the schemes of bylaws of negotiated pension funds, regulations of open pension funds and regulations of individual pension plans, updated following the amendments and additions made to Legislative Decree no. 252 of 5 December 2005 by Legislative Decree no. 147 of 13 December 2018, implementing Directive (EU) 2016/2341 (IORP II).
For further information in Italian, click here.
IORP II – procedure regulation
Covip issued a resolution amending the rules of procedure concerning, inter alia, the governance provisions introduced in Legislative Decree no. 252 of 5 December 2005 by Decree no. 147 of 13 December 2018, the authorization procedure by COVIP concerning the entrusting of key functions, the provisions on the authorization procedure relating to cross-border transfers and the authorization procedure for cross-border activity
Borsa Italiana
03/06/2021
Amendments to the Instructions to the Market Rules
Borsa Italiana published Notice no. 19366 containing some amendments to the ‘Instructions to the Market Rules’. The amendments will come into force as of June 21, 2021.
Amendments to the MTFs rules
Borsa Italiana published Notice no. 19365 containing some amendments to the MTFs rules. The amendments will come into force as of June 21, 2021.
Amendments to the EuroTLX market rules
Borsa Italiana published Notice no. 19364, containing some amendments to the EuroTLX Market Rules. The amendments will come into force as of June 21, 2021.
IVASS
Solvency II
IVASS published a Letter to the Market concerning the ‘Guidelines on security and governance of information and communication technology’ published by EIOPA on April 6, 2021 and applicable from July 1, 2021.
Consob
27/05/2021
Arbitrator for Financial Disputes
Consob published the Resolution no. 21867 of 26 May 2021, providing some amendments to the Regulation concerning the Arbitrator for Financial Disputes (AFD Regulation), approved by Resolution no. 19602 of 4 May 2016.
The amendments made to the AFD Regulations will come into force from October 1, 2021.
Bank of Italy
06/05/2021
Archive of irregular cheques and payment cards
Bank of Italy published a new version of the information sheet relating to the computerized archive of irregular cheques and payment cards, known as "Centrale d’Allarme Interbancaria" (CAI).
05/05/2021
Corporate officers - assessment procedure
Bank of Italy published the provisions on the procedure for assessing the suitability of corporate officers of banks, financial intermediaries, electronic money institutions, payment institutions and depositor guarantee schemes.
29/04/2021
Retail payment systems
Bank of Italy launched a public consultation related to "Provisions on the oversight of retail payment systems."
Prospectus Regulation - disclosure requirements
Consob published the warning notice no. 5/21 announcing its intention to comply with ESMA guidelines on disclosure requirements pursuant to the Prospectus Regulation (ESMA 32-382-1138).
For further information in English, click here.
Ministry of Economy and Finance
26/04/2021
BRRD – Bail-in
The Ministry of Economy and Finance launched a public consultation related to the transposition of article 44-bis of Directive 2014/59/EU (BRRD) which regulates marketing to retail customers of financial instruments subject to bail-in. The consultation closed on May 12, 2021.
24/04/2021
Resolution and financing planning
IVASS issued the IVASS Regulation no. 47 of 27 April 2021 on provisions concerning recovery plans and short-term finance schemes pursuant to Title XVI (Safeguards, reorganization and winding up measures) of Legislative Decree no. 209 of 7 September 2005 (Italian Code of Private Insurance), implementing article 223-ter of the Italian Code of Private Insurance.
20/04/2021
Supervisory Reports
IVASS published a Letter to the Market in order to provide the new technical procedures for submitting supervisory reports on life insurance products (CSVI) and on interest rate risk (RPSI).
19/04/2021
Infostat data collection services
IVASS published new instructions concerning the authentication methods for Infostat data collection services.