Pending the completion of the process for adapting Italian rules to Regulation (EU) 2020/1503 on European crowdfunding service providers (“ECSP Regulation”), Consob and the Bank of Italy declared their availability for...more
The Italian Ministry of Economy and Finance issued the long-awaited decree regarding the Italian register of payment services agents, e-money distributors and central contact points for AML supervision....more
The long-awaited decree regarding the establishment and regulation of the beneficial owner register in Italy was published in the Italian Official Gazette. Following a public consultation, on 25 May 2022 the long-awaited...more
Italian secondary legislation about to be adapted to EU standards - On 15 July 2021, the Italian Council of Ministers approved, in preliminary examination, a legislative decree introducing rules to adapt national legislation...more
The long-awaited decree regulating the business of VASPs in Italy was published in the Italian Official Gazette.
On 17 February 2022, following a public consultation, the decree of the Ministry of Economy and Finance...more
At our recent global conference we held in partnership with Global Digital Finance, our keynote speaker suggested that the three major drivers for financial institution regulators and policy makers for the next few years...more
The Italian Ministry of Economy and Finance launched a public consultation on the long-awaited draft decree for the establishment of the Italian register of payment services agents, e-money distributors and central contact...more
Bank of Italy, Consob and IVASS launched the Italian Sandbox announcing the first call for submitting FinTech projects.
On 17 July 2021, the Decree of the Italian Ministry of Economy and Finance No. 100 of 30 April 2021...more
Bank of Italy launched initiatives regarding the use of Artificial Intelligence for innovating the banking, financial and payment sector and complaints handling....more
Italy is moving to adapt its legislative framework to the European Union standards and to remove fragmentation at national level for UCITS. On 15 July 2021, the Italian Council of Ministers approved, in preliminary...more
On 2 July 2021, the Decree of the Italian Ministry of Economy and Finance for the launch of a Sandbox in Italy and the establishment of a FinTech Committee was published in the Italian Official Gazette....more
On 1 July 2021, the Bank of Italy transposed into the Italian legal framework Article 106 of PSD2 regarding the obligation for payment service providers to inform consumers of their rights in the context of the provision of...more
The Counsel of State suspended the adoption of its opinion on the draft decree of the Ministry of Economy and Finance setting up and governing the functioning of the Italian register of ultimate beneficial owners causing a...more
Pursuant to Directive 2014/92/EU (“PAD”), as implemented in Italy under the Italian Consolidated Banking Act (“CBA”), payment service providers (“PSPs”) offering payment accounts to consumers must participate on one or more...more
Key developments of interest over the last month include: • United Kingdom: The Payment Systems Regulator (PSR) has published two calls for views, one of which focuses on authorised push payment (APP) scams and the other on...more
The 2021 Italian Budget Law aligns the tax treatment applicable to EU investment funds with the tax treatment applicable to Italian investment funds....more
1/18/2021
/ Capital Gains ,
Dividends ,
EU ,
Future Tax Treatment ,
Investment Funds ,
Italy ,
Non-Residents ,
Tax Exemptions ,
Tax Planning ,
UCITS ,
Withholding Tax
The Italian Government repealed the tax, introduced in 2018, on money remittances outside EU executed through payment institutions....more
New provisions have been introduced to the Italian law concerning the development of FinTech initiatives and the establishment of an Italian Fintech Sandbox. Secondary measures are expected to be enacted by 31 January 2021....more
Join us for our exciting pan-European webinar on recent AML developments and the EC's new action plan on preventing money laundering. International experts will share insights on the direction of AML supervision and...more
Italian news on on-line KYC for AML purposes, including the possibility to rely on SCA when certain conditions are met, have been confirmed.
On 14 September, Law Decree No. 76/2020 regarding urgent measures for...more
The Italian Government recently issued a Law Decree which, among other things, modified on-line KYC for AML purposes, including the reliance on SCA when certain conditions are met. ...more
The outbreak of the COVID-19 emergency and the contextual economic crisis are triggering unprecedented challenges throughout all industry sectors. The asset management sector plays a key role in fostering the economic...more
The Ministry of Economic Development launched a public consultation setting out recommendations for the use of DLT and blockchain in a number of fields, including the regulatory banking and financial industry. ...more
6/22/2020
/ Blockchain ,
BSA/AML ,
Cryptoassets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Economic Development ,
FinTech ,
Initial Coin Offering (ICOs) ,
Investment ,
Italy ,
Know Your Customers ,
Money Laundering ,
Popular ,
Public Consultations ,
Token Sales
The current situation is fast-moving in light of the COVID-19 pandemic. Many financial supervisory and regulatory authorities as well as local governments have issued measures which are relevant for financial institutions and...more
6/10/2020
/ BaFin ,
Basel Committee on Banking Supervision (BCBS) ,
Capital Requirements ,
Coronavirus/COVID-19 ,
European Banking Authority (EBA) ,
European Central Bank ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Investment Funds ,
IOSCO ,
Jurisdiction ,
Liquidity ,
Short Selling ,
Small and Medium-Sized Enterprises (SMEs) ,
Supervisory Guidance ,
Transparency
The Italian Ministry of Economy and Finance launched a public consultation asking for the stakeholders' views on the envisaged amendment of the eligibility criteria investors have to meet for subscribing Italian reserved...more