News – Law Firm Mazza

13 May 2024

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Financial, Non-banking financial intermediation, Asset management, Nature of risks, Measures, Consob

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Asset management The financial market authorities of Italy, Spain, France and Austria list their key priorities for a macroprudential approach to asset management The National Commission for Companies and the Stock Exchange (CONSOB - Italy), the Comisión Nacional del Mercado de Valores (CNMV - Spain), the Autorité des marchés financiers (AMF - France) and the Finanzmarktaufsicht (FMA - Austria) within of the debate on the macroprudential approach to asset management and in view of the next European Commission consultation on this topic. In recent years, the risks arising from Non-Bank Financial Intermediation (NBFI) have come under the attention of global regulators, especially as...

13 May 2024

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Corporate, Management Body, Board of Directors, Termination, Court of Milan 12 March 2024

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Art. 2385 of the civil code Statutory clause simul stabunt simul cadent Internal balance of composition of the board The statutory provision of the termination of the entire board of directors as a result of the resignation of one of its members attributes to the exercise by the individual member of the administrative body the right to freely withdraw from the mandate without any need for reasons deducible from the art. 2385, co. 1, c.c. the further effect of determining the immediate forfeiture of the management body with the function, not only of preserving the internal balance of composition of the board originally...

08 April 2024

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Italian audiovisual industry, Tusma Reform, Independent producers, Economic value, Analysis of the themes, Proposals for improving existing regulations

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Legislative Decree 8 November 2021, n. 208. Tusma in force Implementation of Directive (EU) 2018/1808 of the European Parliament and of the Council of 14 November 2018 amending Directive 2010/13/EU on the coordination of certain legislative, regulatory and administrative provisions of the Member States, concerning the Consolidated Law for the provision of audiovisual media services in consideration of the evolution of market realities. The voice of the independent film and audiovisual industry made up of directors, screenwriters, agents, actors, distributors, exporters, festivals, musicians, producers, technicians calls for urgent consideration of the Sector's proposals to implement the necessary reforms quickly. There are 9,000 companies...

05 April 2024

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Legislative Decree n. 231/2001, Discipline of administrative responsibility, New discipline of Whistleblowing, Analysis, Anac

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Legislative Decree 10 March 2023, n. 24, Implementation of Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019. Anac monitoring of critical issues in the application of the new whistleblowing regulations pursuant to Legislative Decree 24/2023. Analysis of data and information provided by public and private sector entities called upon to activate internal reporting channels in their administrations or bodies for subsequent general guidance. March 19, 2024 Source Anac Monitoraggio criticità applicazione disciplina whistleblowing - 18.03.2024...

04 April 2024

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Administrative, Public contracts, Procurement and direct assignments

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The growth of procurement in Italy continues at full speed. The indicators for the 2nd quarter of 2023, based on findings from the Anac Data Bank, show widespread and constant growth in all sectors: compared to the previous four months (first four months of 2023) supplies, works and services increased by approximately 28.5%, 52.4% and 5.5%. The economic value Anac's quarterly report highlights the growth, evidently driven by the Pnrr contracts. Compared to the first quarter of 2023, there was an increase, in terms of amount, in supplies of approximately +35.4% (supplies representing approximately 34% of the approximately 117.6 billion in total), an increase in works of...

16 March 2024

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Italian audiovisual industry, Tusma reform, independent Producers, negotiation and contractual protections

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Legislative Decree 8 November 2021, n. 208. Tusma in force Implementation of Directive (EU) 2018/1808 of the European Parliament and of the Council of 14 November 2018 amending Directive 2010/13/EU on the coordination of certain legislative, regulatory and administrative provisions of the Member States, concerning the Consolidated Law for the provision of audiovisual media services in consideration of the evolution of market realities. Review of film investment quotas Weight of Italian stories and international productions Maintain the value of rights and intellectual property in our country The Tusma reform, under discussion in Parliament, worries the independent producers of Anica, who have set out their requests...

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...