Source/Date Brief description

Italian Financial Market Supervisory Authority (Consob)

December 22, 2022

Consob publishes amendments to Issuers’ Regulation

Consob published Resolution No. 22551 of December 21, 2022 containing amendments to Resolution No. 11971 of May 14, 1999 (Issuers’ Regulation), introduced for the purpose of adapting the national system to the following regulatory European acts:

  • Directive (EU) 2021/2261, amending UCITS Directive regarding the use of documents containing the key information by management companies of UCITS;
  • Regulation (EU) 2021/2259, amending Regulation (EU) 1286/2014 with regard to the extension of the transitional regime for management companies, investment companies and persons who provide advice on units of UCITS and non-UCITS or sell units of such products.

These amendments stipulate that the Key Information Document (KID) required by Regulation (EU) No. 1286/2014 must be provided to all retail investors of investment funds.

More information (in Italian) is available here.

Italian Financial Market Supervisory Authority (Consob)

December 9, 2022

Consob approves amendments to Bank of Italy’s markets Regulation

Consob approved, through Resolution 22540 of December 7 2022, the amendments to the Regulations of the markets organized and managed by Borsa Italiana. The amendments concern the migration of financial data to the Optiq platform in use by Euronext Group.

More information (in Italian) is available here.

Italian Financial Market Supervisory Authority (Consob) Bank of Italy and Institute for insurance supervision (IVASS)

December 2, 2022

Consob, Bank of Italy and IVASS update list of Italian financial conglomerates

Consob, Bank of Italy and IVASS have updated the list of Italian financial conglomerates, i.e. the list of corporate groups that carry out activities to a significant extent in the insurance and banking and investment services sectors.

More information (in Italian) is available here.

Italian Government

November 10, 2022

Italian Government publishes decree on OAM’s activities and powers vis-à-vis EU credit intermediaries

Decree No. 172 of September 13, 2022 of the Ministry of Economy and Finance laying down the “Regulations governing the forms and methods by which the Body for the Management of Lists of agents in financial activities and credit brokers (OAM) exercises the activities and powers provided in respect of credit intermediaries of the European Union” was published in the Official Gazette.

The decree establishes the forms and methods whereby the OAM exercises supervisory powers to EU credit intermediaries intending to operate in Italy.

The Decree is effective from November 25, 2022.

More information (in Italian) is available here.

Bank of Italy

November 2, 2022

Bank of Italy amends provisions on payment institutions and electronic money institutions

Bank of Italy published provisions amending the supervisory rules for payment institutions (PI) and electronic money institutions (EMI) dated May 17, 2016 in order to implement EBA Guidelines on risk management related to information technology (ICT) and security (EBA/GL/2019/04) and the EBA Guidelines on major incident reporting as provided for in the PSD 2 (EBA/GL/2021/03).

More information (in Italian) is available here.

Italian Financial Market Supervisory Authority (Consob) Bank of Italy

October 19, 2022

Consob and Bank of Italy publish provisions on SHRD 2

Consob and Bank of Italy published provision amending “Rules governing central counterparties, central securities depositories and central depository services: new joint regulation amendments to the single post-trading” of August 13, 2018, in order to align them to Directive (EU) 2017/828 on the encouragement of long-term shareholder engagement (SHRD 2) and the related implementing Regulation (EU) 2018/1212.

More information (in Italian) is available here.

Italian Government

October 18, 2022

Italian Government publishes Bank of Italy’s measures on Italian entities participating in the CREST UK system

The Bank of Italy’s measures on the applicability of rules concerning the definiteness of orders placed in a payment or securities settlement system (set forth by Legislative Decree No. 210 of April 12, 2001) on Italian entities joining the CREST UK system was published in the Official Gazette.

The measure is effective from November 2, 2022.

More information (in Italian) is available here.