Italy plays a prominent role in EU AI Act negotiations and engages in political discussions for future laws.
Laws/Regulations directly regulating AI (the “AI Regulations”)
Currently, there are no specific laws,...more
5/23/2024
/ Artificial Intelligence ,
Competition ,
Data Privacy ,
Data Protection ,
Data Protection Authority ,
EU ,
General Data Protection Regulation (GDPR) ,
Italy ,
Legislative Agendas ,
Machine Learning ,
Regulatory Agenda ,
Regulatory Requirements ,
Technology
As part of a series of recent FDI reviews, the Italian government has determined that the grant of a pledge over shares of Italian companies in strategic sectors triggers the filing requirement under the Italian FDI regime,...more
The Italian legislators and CONSOB enacted new measures, as part of a general attempt to modernize the market infrastructure.
The new rules relate to, inter alia, the following:
The issuance of unlisted debt...more
The Italian legislature enacted new measures , effective from March 27, 2024, to attract new investors to the Italian capital markets and rationalize corporate governance dynamics (the "Capital Markets Law")....more
The 2022 Annual Law for Competition (the "Law") has been published in the Official Journal No. 303 of 30 December 2023 and entered into force on 31 December 2023.
The Law has changed the powers of the Italian Competition...more
The attention of financial regulators on environmental, social and governance factors is significantly and rapidly increasing. A proper integration of ESG features in the business model of financial and non-financial entities...more
6/9/2023
/ Bank of Italy ,
Climate Change ,
Environmental Social & Governance (ESG) ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Regulatory Agencies ,
Italy ,
Non-Financial Firms ,
SFDR ,
Sustainable Finance
The recent conflict in Ukraine is affecting the entire global economy and causing severe consequences for many Italian companies. To address the current scenario, the Italian legislators introduced:
(i) a specific first...more
On 12 January 2019, the Italian Government enacted Legislative Decree No. 14 (so called "business crisis and insolvency code (codice della crisi d’impresa e dell’insolvenza)", which entered into force on 15 July 2022 (the...more
11/3/2022
/ Ad-Hoc Mandates ,
Chamber of Commerce ,
Clawbacks ,
Creditors ,
Debt Restructuring ,
Enforcement Actions ,
Financial Distress ,
Insolvency ,
Italy ,
Joint Liability ,
Liquidation ,
Recapitalization ,
Recovery Plans ,
Sustainable Finance
Borsa Italiana has released a new regulation, effective October 3, 2022, that simplifies the Euronext listing admission process.
Consistent with the listing rules of EU peer securities exchanges, the issuer and the...more
On 27 August 2022, the 2021 Annual Law for Competition (Law No. 118 of 5 August 2022) will enter into force.
The final law reflects the key provisions of the draft law issued by the Government on 4 November...more
The Italian Securities Commission (Consob) has enacted rules that allow the use of an English language prospectus for IPOs and rights issues in Italy and shorten the prospectus review period.
On August 1st, Consob...more
The Italian Competition Authority updated its merger control turnover thresholds. Effective 21 March 2022, Section 16(1) of Law No. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions...more
Legislative Decree no. 185/2021 ("Decree"), implementing Directive no. 2019/1/EU ("ECN+ Directive") into Italian law, entered into force on December 14, 2021.
The ECN+ Directive primarily aims at strengthening the powers...more
Consob initiated a public consultation concerning important new IPO rules aimed at simplifying and shortening the prospectus approval process and to reduce listing costs, which would bring Italian practice closer in line with...more
After several delays, on November 4, 2021, the Italian Council of Ministers examined and finally approved the draft Annual Law for Competition ("Draft") pursuant to Article 47 of Law No. 99/2009.
The Draft reflects most...more
There have been a number of developments in merger control in 2020 and Q1 2021. Some are related to the repercussions of the COVID-19 pandemic, while others are borne out of the ambitions and changes sought by individual...more
Wednesday, May 19, 2021, the new rules governing expanded class action lawsuits in Italy entered into force. The new class action system applies to claims related to conducts put in place starting from today....more
Today, Wednesday, May 19, 2021, the new rules governing expanded class action lawsuits in Italy entered into force.
The new system applies to claims related to conducts put in place starting from today. ...more
On 23 March 2021, the Italian Competition Authority (“ICA”) sent to the Italian government its proposals for changes to the Italian competition law for inclusion in the “annual law for competition” pursuant to Article 47 of...more
Today, the Italian Competition Authority updated its merger control turnover thresholds. Effective today, 22 March 2021, Section 16(1) of Law no. 287 of 10 October 1990 requires prior notification of all mergers and...more
Artificial intelligence (AI) is increasingly transforming business processes and strategies across industry sectors. Companies are figuring out how to take advantage of AI, focusing primarily on customers' needs and...more
11/19/2020
/ Artificial Intelligence ,
Big Data ,
Board of Directors ,
Business Judgment Rule ,
Corporate Governance ,
Decision-Making Process ,
Duty of Care ,
Fiduciary Duty ,
Machine Learning ,
Risk Management ,
Technology
Over the last three months, the Italian Government has enacted a package of financial assistance designed to help Italian businesses survive the dramatic short-term effects of the coronavirus ("COVID-19") pandemic. The...more
7/14/2020
/ Board of Directors ,
Borrowers ,
Business Continuity Plans ,
Coronavirus/COVID-19 ,
Creditors ,
Federal Loans ,
Financial Assistance Policies ,
Italy ,
Liquidity ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Relief Measures ,
SACE Guarantee Scheme ,
Shareholders ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business
Following the outbreak of COVID-19 and its development into a global pandemic, organizations have been implementing exceptional measures to safeguard employees, customers and others against the health threat that is being...more
4/24/2020
/ Army ,
Compliance ,
Coronavirus/COVID-19 ,
Data Controller ,
Data Privacy ,
Data Processors ,
Data Protection ,
Data Protection Authority ,
Data Protection Officers (DPOs) ,
Employee Privacy Rights ,
General Data Protection Regulation (GDPR) ,
Health Care Providers ,
Infectious Diseases ,
Italy ,
Patient Privacy Rights ,
Personally Identifiable Information ,
Privacy Concerns ,
Public Health Emergency ,
Quarantine ,
Sick Employees
On 8 April 2020, the Italian Government enacted Law Decree no. 23 of 2020 (the "Restore Liquidity" Decree). In combination with Law Decree no. 18 of 17 March 2020 (the "Cure Italy" Decree), it provides businesses affected by...more
4/10/2020
/ Directors ,
Fiduciary Duty ,
Financial Assistance Policies ,
Funding ,
Italy ,
Liquidity ,
Midsize and Large Business Loans ,
SACE Guarantee Scheme ,
Shareholders ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business Loans
On March 27, 2020, the United States Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") became effective. The primary purposes of the CARES Act is to provide businesses affected by the novel coronavirus...more
4/9/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Dividends ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Foreign Subsidiaries ,
Interest Rates ,
Midsize and Large Business Loans ,
Relief Measures ,
Shareholder Distributions ,
Stock Repurchases