News & Analysis as of

Italy

Securitisations: the Bank of Italy establishes new disclosure and statistical obligations for vehicle companies

On 30 June 2017, the Decision of the Bank of Italy of 7 June 2017, entitled “Provisionson disclosure and statistical obligations for vehicle companies involved in securitization transactions” (the “Decision”) was published in...more

New Merger Thresholds for Italian Transactions

by Jones Day on

The Background: On August 2, 2017, the Italian Parliament approved the Law on Market and Competition, which provided a new set of pre-merger filing thresholds. After publication of the law in the Official Gazette on August...more

No Traction: Authorities Drop Antitrust Investigation into Italy's Long-Term Car Rental Sector

by Jones Day on

The Situation: The Italian Competition Authority has closed an antitrust investigation into the alleged anticompetitive exchange of information by 16 operators in the long-term car rental market and their industry...more

Europe’s Answer To “I Love New York”: The Official Trademark Of Venice

This summer, I was lucky enough to vacation with family and friends in Venice, Italy. Highlights included seeing the traditional city sights, riding around the canals in a gondola, seeing glass being blown on the Island of...more

Pharma advertising in Italy – Online publication of OTC medicinal products list, prices and reimbursability

by Hogan Lovells on

The Court of Milan held in a Judgment recently handed down in the proceedings brought by Bayer S.p.a. against the generic manufacturer DOC Generici S.r.l. that online publication of over-the-counter (OTC) medicinal products...more

New rules on merger control in Italy

by DLA Piper on

The annual competition act for 2017 (Law n. 124 of 4 August 2017, published in the Official Journal on 14 August 2017; hereinafter “2017 Competition Act”) has amended – with effect from 29 August 2017 – the requirements that...more

Italy: New Rules on Financial Leases Provide Clarity

by 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

Commerce Announces Preliminary Determinations on Carbon and Steel Wire Rod from Turkey and Italy

by Kelley Drye & Warren LLP on

Yesterday, the Department of Commerce announced its preliminary determinations in the countervailing duty investigations on carbon and alloy steel wire rod from Turkey and Italy. Commerce reached affirmative determinations...more

Gare d'ambito per l’assegnazione delle concessioni reti gas

Il 13 luglio u.s. abbiamo organizzato, in collaborazione con il Consorzio Concessioni Reti Gas, un workshop che ha avuto come obiettivo non solo quello di favorire un incontro-dibattito tra i player del mercato rilevante, ma...more

Tenders for Assignment of Gas Distribution Concessions

Last July we organized, jointly with the Consorzio Concessioni Reti Gas, a workshop aimed at promoting a conversation between the relevant market players taking stock of the situation of future legislative evolutions in the...more

New turnover thresholds for the prior notification of mergers (Italian)

by Dentons on

A partire dal 29 agosto 2017, si applicheranno nuove soglie di fatturato per la notifica preventiva delle operazioni di concentrazione all’Autorità Garante della Concorrenza e del Mercato (“AGCM”). Le nuove soglie sono...more

New turnover thresholds for the prior notification of mergers in Italy

by Dentons on

As of August 29, 2017, new turnover thresholds will apply for the prior notification of mergers to the Italian Competition Authority (ICA). The new thresholds have been set by Law n. 124/2017 of August 4, 2017 (Annual...more

McDermott International Legal Highlights - August 2017

by McDermott Will & Emery on

Privacy Shield Implementation and How-To Kit from McDermott Will & Emery - Japanese companies may have European branches or subsidiaries that send personal data to the US or that may be accessed by entities in the US,...more

OTA & Travel Distribution Update - Aug. 4th, 2017

by Garvey Schubert Barer on

This week’s OTA & Travel Distribution Update for the week ending August 4, 2017 is below. An important update on the status of rate parity in the EU leads things off in this week’s Update...more

EU & Competition Law Update – August 2017

by Bryan Cave on

The UK Government’s Brexit strategy took another step forward on 13th July 2017 with the publication of the European Union (Withdrawal) Bill, commonly referred to as the “Great Repeal Bill”. There was not much of a fanfare...more

Hogan Lovells advises the Single Resolution Board on Banca Popolare di Vicenza S.p.A. and Veneto Banca S.p.A.

by Hogan Lovells on

We have advised the Single Resolution Board, the banking resolution authority of the Eurozone, with respect to the two Italian banks Banca Popolare di Vicenza S.p.A. and Veneto Banca S.p.A. ...more

Update: Italian Parliament approves the new National Merger Filing Thresholds

by K&L Gates LLP on

On 2 August 2017, the Italian Parliament has adopted the Italian Competition Law, following a complex and long legislative procedure. As already reported, an intense debate surrounded the discussion and the approval of the...more

Cartolarizzazioni: Banca d’Italia stabilisce nuovi obblighi informativi e statistici per le società veicolo

Il 30 giugno 2017 è stato pubblicato sulla Gazzetta Ufficiale - Serie Generale - n. 151 il provvedimento di Banca d’Italia del 7 giugno 2017, recante “Disposizioni in materia di obblighi informativi e statistici delle società...more

European NPLs Market

This booklet aims to provide an updated framework of the European NPLs market, presenting the last provisions entered into force, together with some papers of national and European Authorities and some observations of our...more

Italy Aims to Change Merger Notification Thresholds

by Shearman & Sterling LLP on

After 894 days of discussion, the Italian Parliament has approved, on 2 August 2017, what should be the “annual” competition act — a series of measures that should be adopted on a yearly basis to promote competition. Among...more

Data Breach at Italy’s No. 1 Bank Exposes 400,000 Accounts

Italy’s top bank, UniCredit SpA, is yet another victim in a series of cyberattacks exploiting vulnerabilities in the financial services industry. Criminals made off with biographical and loan data from 400,000 UniCredit loan...more

Italy opens the door to corporate ownership of pharmacies – a revolution for the Italian Pharma distribution

by Hogan Lovells on

By Law passed today, August 2nd, 2017 (Law for the improvement of the competition on the market), further to a recommendation of the Italian Competition Authority (“ICA“), the Italian legislature enacted provisions for the...more

I recenti sviluppi del Decreto Madia ed il regime transitorio

1. L'APPROVAZIONE DEL DECRETO CORRETTIVO A SEGUITO DELLA SENTENZA DELLA CORTE COSTITUZIONALE N. 251/2016 - Il Consiglio dei Ministri del 9 giugno 2017, su proposta del Ministro per la semplificazione e la pubblica...more

ECJ: Clarification on Withdrawing State Aid from Companies Deemed "Undertaking in Difficulty"

by Jones Day on

The notion of "undertaking in difficulty" is a key element in State aid law because undertakings in difficulty can receive State aid only under the restrictive conditions for so-called rescue and restructuring aid. Any other...more

ISDA Master Agreement – Court of Appeal favours chosen law over local

by Dentons on

When commercial parties choose English law to govern their hedging or financing contracts, the English courts will usually apply that choice with very few exceptions. A recent Court of Appeal case further narrows one such...more

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