Through a press release dated January 3, 2024, the European Central Bank (ECB) has announced that it will test the resilience of banks in the event of a cyber – attack. As reported, the stress test will be conducted on 109 banks supervised by the ECB to assess their response and recovery capabilities, involving the […]
In December 2023, the Italian Competition and Market Authority imposed a fine of 4.5 million on Facile Ristrutturare and Renovars (its parent company) for unfair and misleading commercial practices. According to the Authority, the two companies not only spread fake online reviews drafted by their employees but also, in some instances, applied a hidden cost […]
On January 4th, the Institute for Insurance Supervision (IVASS) published a letter to the market regarding the communication of telematic verification methods for surety policies under the Public Contracts Code (Legislative Decree no. 36/2023). The Public Contracts Code introduced new specific requirements for guarantees to be issued along with an offer by contractors participating in […]
On December 21, 2023, the European Insurance and Occupational Pensions Authority (EIOPA) published its Supervisory convergence plan for 2024 (the “Plan”), in compliance with its mandate to build a strong and common supervisory culture across all EU states. The three main areas around which the activities in the Plan revolve are: Practical implementation of a […]
On December 21 2023, the Competition and Market Authority fined the electricity and gas supply company, Facile Energy, for not ceasing the practice of unsolicited activation of electricity and gas supplies. Despite a warning issued by the Antitrust Authority in December 2022, regarding the unfair practice of unsolicited activation of electricity and gas contracts applied […]
In December 2023, in a proceeding pending before the Justice of Peace of Milan, the claimant requested an insurance company the payment of an amount which the insurance company had already made to an IBAN faked by a hacker. Specifically, following an incident, an insurance company acknowledged a settlement amount of €6,000.00. When the beneficiary […]
The Italian Supreme Court, with the very recent decision no. 23295/2023, stated that the dismissal of a person, who makes sexual allusions, is lawful and such behaviors cannot be justified because of their lightheartedness or superficiality. The Italian Supreme Court condemned the behavior of the employee who made verbal sexual allusions to another employee, who worked as a bartender. […]
Based on Supreme Court judgment No. 31744 of 15 November 2023, the Party-appointed technical consultant cannot plead the invalidity of the technical report on the grounds that the Court-appointed technical consultant has used unauthorized documents. However, it is to be noted that this objection can be made, pursuant to art. 157, paragraph 2 c.p.c. either […]
The Advocate General of the Court of Justice of the EU, in his October 26, 2023 Opinion on the two joined cases C182/22 and C189/22, requested the Court to interpret the GDPR broadly and more favorably for data subjects in data breach matters. Specifically, the case concerned a data theft from a trading company. In […]
The ESAs (EBA, ESMA, and EIOPA) initiated a public consultation on December 8 regarding the second set of political mandates under the Digital Operational Resilience Act (DORA). DORA aims to comprehensively address ICT risk management in the financial services sector and harmonize the existing regulations on ICT risk management in each EU State. For this […]
