The European Banking Authority has launched a public consultation on the draft Implementing Technical Standards (ITS), for supervisory disclosures under the CRD regime. The draft ITS incorporates amendments to the EU legal framework, notably in relation to supervisory reporting and investment companies. In particular, the consultation paper outlines changes to Implementing Regulation 650/2014/EU, which lays […]
The topic of patients’ informed consent lies at the centre of a recent ruling by the Cassazione Civile (no. 1936 of 23rd January 2023), which addresses the concrete information that must be communicated to patients and, in particular, how to perform the duty to disclose information on therapeutic alternatives, and what the consequences are for […]
IVASS – the Insurance Supervisory Authority – has issued twenty fines to Cattolica Assicurazioni SPA (formerly Società Cattolica di Assicurazione – Società Cooperative) and to its former business representatives and board members. The fines, totalling 1.9 million euros, follow a series of inspections that uncovered a number of governance improprieties. The measures are reported in the […]
One of the major conflicts in the financial sector in the coming months will concern inducements, i.e. compensations, commissions or non-monetary benefits paid or received by intermediaries as a result of the provision of an investment service, as for example in the case of retrocessions. Following Germany’s footsteps, Austria has now also declared its opposition […]
By a notice dated 9th January 2023, IVASS has announced that, pursuant to IVASS Regulations No. 44 of 12th February 2019 and No. 50 of 3rd May 2022, it will adopt, no later than the 30th June 2023, a new procedure for the collection of information due from both Italian and foreign companies, for the […]
In the case of the employment of an EU seafarer, are the shipowner and seafarer free to choose the law regulating the contract? Yes. As a general principle, in the case of the employment of a seafarer, the owner and the seafarer are free to choose the law regulating the contract. Indeed, the international employment […]
On the 23rd February 2022, the European Commission adopted a proposal for a Corporate Sustainability Due Diligence Directive, with the aim of promoting sustainable and responsible corporate conduct. The proposed Directive is one of the key initiatives that form part of the ‘Green Deal for Europe’, and is part of a wider regulatory framework that […]
The European Commission is taking legal action, through various rulings, against Member States that fail to fulfil the obligations laid out by EU law. These decisions, adopted periodically, aim to guarantee the proper application of European law for the benefit of both citizens and businesses. One of the most recent rulings to be adopted addresses […]
On the 26th January, the eighth edition of the Consob Report on the investment decisions of Italian households was published, based on a survey conducted by GFK Italia on ‘Italian households’ approach to finance and investments’. This survey was carried out on a sample of 1,436 individuals that represented the Italian investor population, 80% of […]
On 29th December 2022, the CNIL (Commission Nationale de l’Informatique et des Libertés), the independent French administrative authority in charge of ensuring legal compliance with regards to the protection of personal information in the gathering, storing and processing of data, announced that it had issued a € 3 million fine to VOODOO SAS, a game […]
