Photo of Pietro Altomani (IT)

Following their call for evidence in November 2022, on 1 June 2023, the European Supervisory Authorities (“ESAs”) published their first progress reports on greenwashing (the “Reports”) to better identify the phenomenon and to assess which areas of the sustainable investment value chain (“SIVC”) are more exposed to greenwashing risks.

In the Reports the ESAs have

On 28 October 2022, the Bank of Italy (“BoI”) issued a communication (“Communication”) on Buy Now Pay Later schemes (“BNPL”) to draw the attention of consumers on the prevalent forms of BNPL on the Italian market, the related potential risks and the means of protections afforded to customers by

New measures regarding crypto-related services providers have now been passed. Following a lengthy consultation process that began in 2018, the decree of the Ministry of Economy and Finance that was approved on 13 January 2022 (the “Decree”) has been published on the Official Journal on 17 February 2022 and entered into force the

A recent webinar hosted by Consob (the Italian authority for the supervision of financial markets) in the context of the 2021 IOSCO World Investor Week offers the opportunity to briefly recall the initiatives undertaken by the Italian authority in respect of ESG matters.

As a starting point, in its annual review published in March 2021,

Italy: A partial relief on Brexit transition period has been granted to UK banks, electronic money institutions operating through a branch and investment firms (the UK Regulated Entities) that submitted the authorization application to the relevant competent authority before 31 December 2020. Conversely, UK payment institutions, electronic money institutions operating under the freedom of services

With every day that passes without apparent progress towards an agreement on financial services or equivalence, the more firms we see putting in place arrangements to enable them to continue business across Europe.

On 22 October members of our financial services and regulation team in London, Paris, Frankfurt, Amsterdam and Milan will be hosting a

Amid emergency initiatives aimed at coping with the Covid-19 emergency, Italy has taken two steps aimed at easing the modalities for concluding contracts online, both of which are particularly significant for the financial services sector.

It is worth reminding that banking and financial contracts under Italian law are valid only if entered in writing. Furthermore,

Consob’s final report on initial coin offers (ICOs) and crypto-assets exchanges

On 2 January 2020, following the publication of a discussion document on 19 March 2019 (on which you can find our previous article here), Consob (the Italian regulator supervising financial markets and listed companies) released its final report on initial coin offerings

The European Court of Justice (Court of Justice) has ruled that a temporary prohibition on the activities of a tied agent fall outside the scope of MiFID.

Facts

A request for a preliminary ruling from the Court of Justice was made in proceedings between Mr Antonio Pasquale Mastromartino and the Commissione Nazionale per le Società

On 19 March 2019, Consob (the Italian competent authority for the supervision on markets and listed companies) published a discussion document about initial coin offerings (ICOs) and crypto-assets exchanges (the “Document”), that may lead to the introduction of specific regulation in this field. The Document summarises the main items Consob is considering in