News – Law Firm Mazza

13 March 2024

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Financial, Financial intermediation, Issuers Regulation, Regulation of prospectuses, Consob

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Consob Resolution no. 23016 of 20 February 2024 Amendments to the Issuers' Regulations concerning the regulation of prospectuses Passim GIVEN the law of 7 June 1974, n. 216, conversion into law, with amendments, of the legislative decree of 8 April 1974 n. 95, containing provisions relating to the securities market and the tax treatment of shares; HAVING REGARD to the legislative decree of 24 February 1998, n. 58, and subsequent amendments, with which the Consolidated Law on financial intermediation provisions was issued, pursuant to articles 8 and 21 of law no. 6 February 1996. 52 (hereinafter also "Tuf"); HAVING REGARD to Regulation (EU) 2017/1129 of...

28 February 2024

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Administrative, Public contracts, Anac Resolution n. 43 of 24 January 2024

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Approval of the standard participation application Open procedure for the awarding of public service and supply contracts in ordinary sectors for amounts exceeding the European thresholds with the criterion of the most economically advantageous offer based on the best quality/price ratio. The Authority's Council, in the meeting of 24 January 2024, following the adoption of the Standard Notice no. 1/2023, approved the standard application for participation relating to the awarding of public contracts for services and supplies in ordinary sectors for amounts exceeding the European thresholds with the criterion of the most economically advantageous offer based on the best quality/price ratio. Source Anac...

09 February 2024

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Intellectual Property, Music Creators, Music Streaming, European Protection

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The European Parliament adopts the Report on the Music Streaming Market The first step towards EU legislation to ensure transparency and cultural diversity on all music streaming platforms. On January 17, the European Parliament adopted the report on "Cultural diversity and conditions for authors in the European music streaming market". The report recognizes the significant problems faced by creators and suggests initiatives at Union level to lay the foundations for a fairer and more sustainable ecosystem in an ever-growing market. In its press release, GESAC – the European Group of Societies of Authors and Composers, of which SIAE is part – “applauds the European Parliament's strong commitment to...

08 February 2024

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Industrial property, European Union trademark, Motor vehicle manufacturer, Product as an accessory or spare part, Use of an identical or similar sign, Judgment of the Court of Justice of the European Union in case C-344/22

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Passim and summary So-called "reparation" clause Regulation (EU) 2017/1001 of the European Parliament and of the Council on the European Union trade mark. A sign protected as a European Union trade mark may also, in certain circumstances, be protected as a Community design. The so-called "reparation” clause, provided for by regulation no. 6/2002 of the Council of 12 December 2001 on community designs, introduces certain limitations to the protection conferred by designs or models. A motor vehicle manufacturer may prohibit the use of a sign identical or similar to the trademark it owns for spare parts. This is the case where the spare part includes an...

31 January 2024

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Banking, Creditworthiness, Automated decision-making relating to natural persons, Court of Justice of the European Union, First Chamber, judgment of 07 December 2023, case C‑634/21

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Credit scores Interpretation of Article 6 (1) and Article 22 of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ 2016, L 119, p. 1, and corrigendum in OJ 2018, L 127, p. 2; hereinafter: the «GDPR». Union law Recital 71 of the GDPR; Article 4 of that regulation, entitled "Definitions"; Article 5 of the same regulation, entitled "Principles applicable to the processing of personal data",...

29 January 2024

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Banking, Banks as protagonists of Europe’s competitiveness

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Analysis and proposals for improvement of the Italian Banking Association communicated to the EU Single jurisdiction Simplification of the rules CMDI Sustainable finance Digital finance Banks, engines of European competitiveness The European legislature that is coming to an end was one of the most difficult of those faced by the EU throughout its history. The effects of a two-year Covid 19 pandemic were unleashed on the continental economy, followed by a second two-year period characterized by an ongoing war on the eastern borders of the Union, to which the tensions unleashed by the conflict in the Middle East have now also been added . A general picture of...

18 January 2024

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Companies, Start – Ups, 1600 Business Angels in Italy active in 120 financing rounds

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Ecosystem growth (Il Sole 24 Ore Radiocor Plus) - Milan, 11 Jan Between 2018 and 2022, the over 1600 Business Angels active in Italy participated in more than 120 financing rounds for an invested amount of over 45 million euros. This is what emerges from the study "Business Angel in Italy: the impact of angel investing" carried out by the Italian Tech Alliance and Growth Capital, in collaboration with the Social Innovation Monitor of the Polytechnic of Turin and the University of East Anglia. According to the report, 70% of the total Business Angels identified operate in Northern Italy: Lombardy leads the way with...

21 December 2023

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USA, GDP growth at 4.9% in the 3rd quarter of 2023

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US economic growth revised downwards in the third quarter of 2023. According to what was found by the Bureau of Economic Analysis, which publishes the definitive data today, American GDP rose by 4.9% on a quarterly basis, compared to +5.2% in the second estimate and against +2.1% in the quarter previous. Consumption growth was recorded, marking +3.1% from the +3.6% recorded in the previous quarter. The PCE price index, a measure of inflation, stood at 2.6% (from 2.5%), while the core PCE index recorded +2% (+2.3% expected), compared to + 3.7% previous. Source Teleborsa...

12 December 2023

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Administrative, Public Contracts and Public Administration Obligations, Service Procurement, Council of State, Section V, Order no. 10530 of 05 December 2023

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Public contracts and public administration obligations - Service procurement - Standardized and labor-intensive characteristics - Lowest price award criterion - Prohibition Prohibition on the provision of the criterion for awarding the lowest price and types of service contracts It is referred to the EU Court of Justice, pursuant to art. 267 TFEU, the following preliminary question: "whether the principles of freedom of establishment and freedom to provide services, referred to in articles. 49 and 56 of the Treaty on the Functioning of the European Union, as well as the Euro-unitary principle of proportionality and art. 67, paragraph 2, of Directive 2014/24/EU preclude...

21 November 2023

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Financial, Sustainable Investments, Cryptocurrency Assets, Trends

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Consob's annual report 'Main trends in sustainable investments and crypto-assets' The high volatility of cryptocurrencies is increasingly characterized as a structural fact of this type of asset, whose market value, in September 2023, was more than 50% lower than that at the end of 2021. There also remains a high vulnerability to cyberattacks, with approximately $3.8 billion stolen globally in hacker attacks in 2022, up from $3.3 billion the previous year. These are some of the most significant data from Consob's annual report 'Main trends in sustainable investments and crypto-assets', now in its second edition. The same survey also confirms the tendency of...