In a recent judgment (No. 12777/2019 published on 22 March 2019, the "IBLOR Judgment"), the Fifth Criminal Section of Italy's Supreme Court of Cassation ruled the illegality of a fronting structure, where an Italian licensed...more
As we painfully inch forward toward what may be the Brexit finish line, national regulators are firing shots across the bow of UK financial institutions carrying out activities in Continental Europe. ...more
On 16 June Legislative Decree No. 68/2018 aimed at implementing the IDD (the “Legislative Decree“) was published on the Italian Official Journal.
...more
6/20/2018
/ Consumer Insurance Products ,
Cross-Selling ,
Insurance Code ,
Intermediaries ,
Italy ,
IVASS ,
Mediation ,
New Legislation ,
Regulatory Oversight ,
Regulatory Standards ,
Reinsurance ,
Remuneration
On 8 June IVASS launched three public consultations on its draft regulations providing for secondary level legislation regarding insurance and reinsurance distribution, pre-contractual transparency requirements to be met in...more
In a letter to the market published by IVASS yesterday, the Italian insurance regulator expressly clarified that the scope of application of the guidelines set out in a previous letter to the market also includes EU insurance...more
IVASS has just published a letter to the market addressed to Italian and EU insurance intermediaries and undertakings addressing the level of awareness of traditional intermediaries about the risks involved in the use of new...more
1/12/2018
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
EU ,
Insurance Industry ,
Intermediaries ,
Italy ,
Popular ,
Regulatory Oversight ,
Regulatory Standards
On 11 April 2017, Steven Maijoor, the Chair of the European Securities and Markets Authority ("ESMA") addressed the potential regulatory issues which may affect EU Member States as a result of the Brexit effect on passporting...more