News

Banking and Companies, Funding & Capital Markets Forum,

Banking and financial world and companies New paradigms of collaboration, increasingly stringent logics that impact on the capacities and methods of collection of banks and companies, recent regulatory changes: in the light of all this, the banking and financial world and companies must develop innovative models of relationship to do business, and govern it, within an increasingly complex scenery. Funding & Capital Markets Forum is the information and relationship space, promoted by the ABI which involves the Italian and international financial community and companies for a comparison and exchange of ideas, experiences, projects, success stories and innovation paths, for identify the actions...

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Financial, revision of some provisions contained in the Regulation on markets, Consob

Consob approved (resolution no. 21028 of 3 September 2019) an intervention to revise certain provisions contained in the Market Regulation adopted with resolution no. 20249 of December 28, 2017. The main changes made to the legislative text were subjected to a public consultation carried out in the period between 15 and 28 February last. The review activity concerned, in particular: (a) the regulation of the equity investments that can be held by the manager of the regulated market and the related disclosure obligations and (b) the due communications regarding the exemption for ancillary activity in commodity derivatives. With regard to point (a), that is the...

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Financial, futures, swaps and any other derivative contract related to goods, Consob

Consob informed ESMA, the European financial markets authority, of its willingness to comply with the guidelines issued on commodity derivatives falling under points 6 and 7 of section c of Annex I of the Mifid II directive (Notice of 25 July 2019). The guidelines update those adopted by ESMA in October 2015 to adapt them to the new regulatory framework without changing the substance. The Guidelines provide clarifications on the definition of certain financial instruments referred to in Annex I, Mifid II, fully incorporated in the Consolidated Law on Finance - Tuf and clarify in particular the scope and methods of application...

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Business contracts, Sale, Guarantee action for defects, Court of Cassation, Section Un., Judgment n. 18672 of 11/07/2019

Extrajudicial manifestations of will of the buyer expressed in the forms referred to in art. 1219, paragraph 1, of the Italian Civil Code - Interruption effectiveness of the prescription - Existence. The Sec. U., on a matter of general importance, have affirmed the following principle of law: "In the sale contract they constitute - pursuant to art. 2943, paragraph 4, of the Italian Civil Code - suitable interrupting acts of the prescription of the guarantee action for defects, provided by the art. 1495, paragraph 3 of the civil code, the extrajudicial manifestations of will of the buyer carried out in the...

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Companies, Financial, Borsa Italiana, 119 companies listed on AIM Italia

AIM Italia, the Borsa Italiana market dedicated to small and medium enterprises The company brings to 119 the number of companies listed on AIM Italia, the Borsa Italiana market dedicated to small and medium-sized enterprises, the latest admitted is the nineteenth since the beginning of the year, of which the fifteenth on AIM Italia. June 29, 2019 Source Borsa Italiana...

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Financial, Consob Notice regarding compliance with the Guidelines issued by ESMA with regard to limiting the procyclical nature of the margins of central counterparties

Consob and the Bank of Italy, as competent authorities for the supervision of Italian central counterparties, comply with the "Guidelines on EMIR anti-cyclical margin measures for central counterparties" issued by the European Securities and Markets Authority (ESMA ), integrating them into their supervisory practices. The Guidelines, published by the ESMA on April 15th, provide detailed indications on the measures that the central counterparties must implement to limit the procyclical nature of margins, in order to favor a common, uniform and coherent application of European standards (art 41 of Regulation (EU) No. 648/2012 and articles 10 and 28 of Delegated Regulation (EU)...

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Financial, mandatory take-over by consolidation and increased vote, Consob

Regulation of the mandatory tender offer for consolidation and of the increased vote pursuant to articles 106, paragraph 3, lett. b) and 127-quinquies, of Legislative Decree no. 58/1998 and 46, of Consob Regulation n. 11971/1999 (Issuers Regulation) Consob clearing up Due to the accrual of the increase in the voting rights of the shares of a listed company by two partners acting in concert, the shareholding held by them had exceeded the takeover threshold (5%). In this perspective, in order to avoid the consequent obligation to opt out, these shareholders had communicated to the market the intention to avail themselves of the exemption...

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Companies and Environment, Accelerating Italy’s transition to sustainability

These are the demands that today, in Milan, during the conference of the Italian Alliance for Sustainable Development (Asvis), businesses and the world of finance have addressed the Government. The lines of action necessary to accelerate the step towards the sustainable development goals of the 2030 Agenda have been gathered by the ten participating business associations that adhere to the Asvis in a joint document. The text indicates the interventions necessary to create a suitable environment for sustainable development, to accelerate the decoupling between economic growth and environmental pressure, to face the social dimension of the ecological transition of the production system,...

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Administrative Law, Joint Contract, Memorandum of Understanding between the Bank of Italy, Consob, Antitrust, Anac, Ivass, Competition Authority and the Market Authority

Leg. April 18, 2016, n. 50 The National Anti-Corruption Authority (ANAC) and the Institute for Insurance Supervision (IVASS) adhered to the Memorandum of Understanding, signed in November 2018, between the Bank of Italy, the National Commission for Companies and the Stock Exchange ( CONSOB) and the Italian Antitrust Authority (AGCM) for the joint management of the joint procurement procedures according to the regulation pursuant to Legislative Decree 18 April 2016, n. 50. The Memorandum of Understanding lays the foundations for raising the quality of public procurement also in terms of transparency and anti-corruption. Rome, 9 May 2019 Source Authority for Competition and Market...

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