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Financial, Stock Exchange, Changes to the Regulation of the markets organized and managed by Borsa Italiana SpA and the related Instructions, Consob Resolution no. 20333 of March 14, 2018

Legislative changes introduced to the TUF by the legislative decree n. 25 of 15 February 2016 and the legislative decree n. 129 of 3 August 2017, transposing the Mifid Directive 2 The Commission approved the amendments to the Rules of the markets organized and managed by Borsa Italiana SpA and the related Instructions on admission to listing and admission to trading. The changes concern the admission to the regulated market and, in particular, the articulation of this process in two phases: i) admission to listing and, ii) admission to trading. The intervention is aimed at adapting the related provisions to the regulatory changes made to...

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Banking and Companies, ABI Executive Committee notes the improvements made to the text of the Addendum to the Guidelines of the ECB – SSM on impaired loans

The ABI Executive Committee on impaired loans The Executive Committee of the ABI, having evaluated the technical-legal analysis presented by the Director General, noted the improvements made to the text of the Addendum to the Guidelines of the ECB - SSM on impaired loans. In particular, the Executive Committee notes that the Addendum, as published on March 15, 2018, does not impose general obligations on banks and does not produce mandatory legal effects and therefore the Addendum is not a first pillar measure. The Addendum provides an indication of the expectations of the European Supervision on how the banks will assess the specific...

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Banking and Financial, Italian Bond Markets, ExtraMOT and the art. 100 bis of the TUF, ExtraMOT also accessible to Non-Professional Investors

ExtraMOT and art.100 bis of the TUF As specified in the market regulation (see Notice No. 17792 of 3 December 2009), ExtraMOT is and the sales made in this market are not subject to the application of Article 100-bis, paragraphs 2 and 3 of the Consolidated Law on Finance ( "TUF"). Art. 100-bis, in paragraphs 2 and 3 of the TUF has in fact configured as a hypothetical offer to the public the case in which financial products that have been the object in Italy or abroad of a placement reserved for qualified investors are in the following twelve months systematically resold...

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Companies, Italian Factory, Agriculture 4.0, Innovation

Despite being a traditional sector, agrifood is more and more a land of technological innovations at the service of producers and final consumers In our country only 1% of the agricultural area is digitized despite the fact that the agri-food represents about 11% of the national GDP Digital and agriculture. An increasingly solid combination, as told some time ago in Italian Factory, even if there is still a long way to go. Especially if you think that in our country only 1% of the agricultural area is digitized despite the fact that the agri-food represents about 11% of the national GDP, according to...

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Bankruptcy, Revocation Action, Proof of Scientia decoctionis, Court of Cassation, VI Civ. Section, Order n. 4794 of 01/03/2018

The proof of the scientia decoctionis of the accipiens is obtainable: a) from the no more regular methods of payments, referring to amounts not corresponding to invoices, which have expired, and from the prohibition on the acceptance of postdated payments by drivers of the creditor company; b) the existence of an excess of indebtedness to suppliers, even before the meeting of creditors, and the use of blank checks, collected more than one month after their shipment; c) the continuity of the relations between the parties, being a regular supplier of the bankrupt and being operative in the same territorial area. Recall (Court of Cassation...

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Companies with high consumption of natural gas, Definitions, Ministerial Decree of 2 March 2018 Ministry of Economic Development

The ministerial decree of March 2, 2018 defines, in accordance with the Community guidelines on state aid, companies with high consumption of natural gas which will have access to a system of facilitations to be adopted with a subsequent decree pursuant to Article 21, paragraphs 1 and 2 of the 2017 European Law. Decree in force Source Ministry of Economic Development...

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Contracts of the Public Administration, Exclusion from the tender, Causes of exclusion ex. c) of paragraph 5 of the art. 80 of the public contracts code, List of examples and not exhaustive, Council of State in court, Section Fifth, Judgment no. 1299 of 02/03/2018

The list contained in the art. 80, paragraph 5, lett. c), legislative decree 18 April 2016, n. 50 (remained unchanged after the entry into force of Legislative Decree No. 56 of 19 April 2017) - in the part in which it is classified as a "serious professional malpractice", for which the contracting authority must demonstrate "by appropriate means" that the economic operator has been guilty, including "significant deficiencies in the execution of a previous contract or concession that caused the early termination, not challenged in court, or confirmed at the outcome of a judgment, or they gave rise to a...

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Environment, D. M. of the Ministry of the Environment and of the protection of the territory and the sea of ​​October 25, 2016, Tar Lazio, Section Second Bis, Judgment no. 2167/2018 of 27 February 2018

Article 63 of the Environmental Code, District Basin Authority D. M. of the Ministry of the Environment and of the protection of the territory and the sea of ​​October 25, 2016, published in g.u.r.i. n. 27 of 02.02.2017, containing "discipline for the allocation and transfer to the district basin authorities of the personnel and of the instrumental resources, including the seats, and financial authorities of the basin authorities pursuant to Law 18 May 1989, No. 183" . The organizational system introduced by the law number 183 of 1989, articulated on a double configuration of structures, national authorities for the national basins and...

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Enterprises, Stock Exchange, Financial, Equity markets, Sustainable investments, Green financial products

The EU action plan for sustainable finance is coming The European Commission presents its strategy The European Commission presented its action plan for sustainable finance with the aim of directing the EU capital market towards a development compatible with the fight against climate change and a harmonious development of the economy and society. It is a program that collects the indications of the expert group report on sustainable finance in Europe (HLEG-High-Level Expert Group on Sustainable Finance). "The transition to a greener and more sustainable economy - underlined the vice president of the EU Commission Frans Timmermans - is beneficial for creating jobs, for...

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Environment, Environmental Protection, Sustainable Development, CIEPEC 2018, Italy-China Collaboration

As part of the Italy-China Environmental Protection Collaboration, the Ministry for the Environment and the Protection of the Territory and the Sea promotes the participation of Italian companies in the China International Environmental Protection Exhibition & Conference - CIEPEC 2018 through the offer of a stand for Italian companies, support for the organization of B2B meetings. The Event will be held in Beijing from 7 to 9 June 2018. Rome, 9 March 2018 Source Ministry of the Environment...

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