Author Archives: Giovanna Aucone

Pursuant to Article 2393 of the Italian Civil Code, a liability action against corporate bodies requires a resolution of the shareholders, since the latter constitutes the formal and mandatory way of expressing the company’s will and therefore no equivalent to the shareholder resolution is admissible. In view of the unquestioned importance of the resolution, the […]

IVASS has opened for public consultation the draft Regulation containing provisions relating to the communication to IVASS of data and information on non-life premiums collected by companies through single intermediaries and through management activities. This is the Regulation adopted pursuant to articles 3-bis, 190, and 190-bis of Legislative Decree no. 209 of September 7, 2005 […]

The Financial Intelligence Unit for Italy (FIU) has provided updates on the ambitious European reform package, “AML Package”, aimed at strengthening the legislation on money laundering and terrorist financing, published by the European Commission on 20 July 2021. Specifically, the AML package, which consists of four European Commission proposals (3 regulations and a sixth AML […]

On December 12, 2021, the EU Court of Justice issued sentence no. 428 expressing its opinion on the issue regarding the increase in insurance limits. According to the Court, in the light of Directive 84/5 and Directive 2009/103, a motor insurance contract entered into before 11 December 2009 can only be applied retroactively to the […]

By judgment no. 3308/2021 issued on 10 August 2021, the Court of Palermo has addressed particularly interesting legal issues, related to the trustee’s capacity to bring an action against the bank and to the illegal granting of credit by the bank, in the event that a company fails to meet the minimum essential requirements for […]

On December 23, 2021, IVASS published the new FAQ regarding insurance distribution, in view of a revision of the regulations on the subject. Below are the main points of the questions and clarifications provided by the Authority: Obligation to register in case of activities carried out partially by means of distance communication The registration obligation […]

On November, 4th 2021, IVASS issued Regulation no. 49 laying down the procedures to adopt the measures envisaged by the Decree of the Ministry of Economy and Finance no. 100/2021 implementing the Legal Decree 30 April 2019, n. 34 (so-called “Decreto Crescita”) establishing the conditions and the modalities how to conduct the trial in the […]

On 22 October 2021, in consideration of the evolution of European regulations, IVASS and CONSOB signed a Framework Agreement to strengthen the long-standing cooperation between the two Authorities, in order to better guarantee the investors and policyholders in their financial transactions and ensure a higher stability of the financial and insurance system. To this purpose, […]

On September 23rd 2021, IVASS published some clarifications concerning Provision no.111 of 2021. In particular, with reference to Art. 14, it has been specified that for the year 2021 only, the deadline by which the “qualified” insurance intermediaries are required to send IVASS the communications envisaged by Art. 11, paragraph 4, letter a) has been […]

The second Chamber of the European Court of Justice, with judgment c/790/19 clarified an important legal issue, establishing the principle according to which the perpetrator of the principal offense can be charged with the offense of money laundering, thus confirming the legitimacy of the self-laundering in all the EU States. The Court, in fact, called […]