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Banks Italy

Hogan Lovells

Bank of Italy communication on unauthorised payment transactions

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On 17 June 2024, the Bank of Italy published a communication on unauthorised payment transactions. Inspections revealed shortcomings with several payment service providers (PSPs), such as groundless refund refusals,...more

Mayer Brown

UK Court Of Appeal Overturns Judgment In Latest Italian Swaps Decision Concerning Corporate Capacity

Mayer Brown on

In December 2023, the England & Wales Court of Appeal unanimously overturned the high-profile ruling handed down by the Commercial Court in October 2022 in the case of Banca Intesa Sanpaolo and Dexia v Comune di Venezia. In...more

Hogan Lovells

Suspicion of fraud in unauthorised payment transactions: reporting to Bank of Italy

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The Bank of Italy published instructions to be followed by PSPs in case refunds for unauthorised payment transactions are suspended for justified suspicion of fraud....more

A&O Shearman

Financial regulatory news – Italy

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The second issue of our newsletter focuses on some recent developments that have affected different areas of the EU and Italian regulatory framework over the last few months. ...more

A&O Shearman

English and Italian courts on opposite sides on the validity of IRS derivative contracts

A&O Shearman on

The debate of the conflicting trends of Italian lower courts’ case law on the validity of Interest Rate Swap (IRS) contracts following the decision by the Joint Divisions of the Supreme Court No. 8770/202 and following...more

Hogan Lovells

Impact of the Italian class action reform on financial institutions

Hogan Lovells on

The 2021 Italian class action law reform may entail increased litigation involving financial institutions in traditional areas as well as in cybersecurity and data breach instances and cryptocurrency-related disputes. The...more

A&O Shearman

Statutory penalty interest at 8%: the latest relevant jurisprudential trends in Italy

A&O Shearman on

In the specific case submitted for its consideration, the Court of Florence established the following question of law: "whether a judge, who is asked generically to order the defendant to pay interest, without any other...more

A&O Shearman

Temporary post-Brexit regime for UK entities operating in Italy

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Article 22 of Law Decree No. 183 of 31 December 2020 (the so-called “Milleproroghe Decree”) allows certain regulated firms based in the United Kingdom to continue operating in Italy for six months post-Brexit to a limited...more

Orrick, Herrington & Sutcliffe LLP

Orrick Finance Italy – CELF Weekly Newsletter – October 2020

CELF Talks: Il Fondo di Garanzia PMI nella normativa emergenziale Ne discutono: Bernardo Mattarella,Amministratore delegato di Banca del Mezzogiorno-MCC Patrizio Messina, Head of Finance Group Orrick Clicca qui per vedere...more

Hogan Lovells

Breaking News: Italian Legislation on COVID19 - A Game Changer for Private Debt Funds?

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Among the legislative measures approved by the Italian Government to support the financial indebtedness of corporates in the face of COVID19, ... the State guarantee made available through SACE S.p.A. ("SACE") is mainly...more

Hogan Lovells

Signing of contracts concerning banking services by means of the simple electronic signature

Hogan Lovells on

Article 4 of Law Decree no. 23 of April 8, 2020 (the so-called "Liquidity Decree") introduces an important though temporary, innovation in terms of simplifying the procedures, for retail customers, for executing contracts...more

Hogan Lovells

The Cura Italia Decree and other measures enacted to cope with the COVID-19 outbreak in Italy

Hogan Lovells on

As a result of the health emergency caused by the widespread outbreak of the virus COVID-19, several measures have been adopted throughout the EU aimed at limiting the occurrence of significant disruptions to the financial...more

Orrick, Herrington & Sutcliffe LLP

La Norma Blocca Aste: Sospensione Delle Procedure Esecutive Intraprese Da Banche O Da Veicoli Di Cartolarizzazione A Tutela Del...

Il Decreto Legge 26 ottobre 2019 n. 124 (“Decreto Fiscale”), pubblicato nella Gazzetta Ufficiale n. 252, del 26 ottobre 2019 e, convertito in Legge n. 157, del 19 dicembre 2019, ha introdotto all’art. 41-bis la c.d. norma...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for May 2019

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

A&O Shearman

Covered Bonds: the new provisions of the Bank of Italy

A&O Shearman on

On 1 October 2018, the amendment no. 23 of 25 September 2018 to the Circular no. 285 of 17 December 2013 (Disposizioni di vigilanza per le banche) (Circular no. 285) entered into force, which revises the rules regar?ding...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A political crisis in Rome has economics [at least partially] and EU commitment at its core and is reminding some observers of the Greece morass of a few years back. The uncertainty the situation’s creating is not expected to...more

Dechert LLP

Developments in Global Securities Litigation

Dechert LLP on

As securities markets become increasingly interconnected, multi- national public corporations continue to be a part of a significant sea change in the globalization of securities fraud litigation—a change that began with the...more

Orrick, Herrington & Sutcliffe LLP

Guidelines for best practices in real estate enforcement proceedings

The avalanche of bad loans that has hit Italy in recent years has drawn attention on the inefficiency of the judicial debt collection system, one of the leading causes of the banking crisis and the low prices that the banks...more

Jones Day

Italy: New Rules on Financial Leases Provide Clarity

Jones Day on

Law no. 124 of August 4, 2017 ("Law 124") provides important new rules on financial leases in Italy. It introduces a statutory definition of "financial lease" and deals with the event of serious breach (grave inadempimento)...more

Jones Day

Securitization in Italy: New Market-Friendly Rules Enacted

Jones Day on

On June 15, 2017, the Italian Parliament approved the Conversion Law of Decree no. 50 of April 25, 2017 ("Conversion Law"). The Conversion Law includes a review of the legal framework applicable to Italian securitization...more

BCLP

EU & Competition Law Update – June 2017

BCLP on

Hope for a Cleaner Brexit After ECJ Ruling - In a ruling which is likely to have positive implications for a possible Brexit deal, the European Court of Justice (ECJ) on 16 May 2017 opened up the ability of the EU...more

Jones Day

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

A&O Shearman

Playing by whose rules? The application of mandatory rules of Italian law to interest rate swaps

A&O Shearman on

Dexia Crediop S.p.A. (Dexia) v Comune di Prato (Prato) [2016] EWHC 2824 (Comm), 10 November 2016 - In the second and final part of his judgment, Walker J held that further mandatory provisions of Italian law apply to and...more

Orrick, Herrington & Sutcliffe LLP

Measures to support financial stability introduced by Law Decree 237 of 23 December 2016

On 23 December 2016 law decree 237 (the "Decree") was published in the Official Gazette no. 299 and entered into force on the same day. The Decree was adopted in light of events that have affected Banca Monte dei Paschi...more

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