On 18 May 2022, the Italian Data Protection Authority issued an interesting opinion, at the request of an insurance company, concerning the correct identification of the subjective role of credit institutions that process customers’ personal data in the activity of distributing insurance policies. In providing the above-mentioned opinion, the Authority referred to the general regulatory […]
Last 12 April, ESMA published on its website the official Italian translation of the “Guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements” (hereinafter, also, “the Guidelines”), adopted pursuant to Article 16 of Regulation 1095/2010/EU, on 3 January 2022. The Guidelines are also available on the institutional website of Consob, which declares […]
On 27 May 2022, the Italian Customs Agency (Agenzia Delle Dogane” or “AD”) with Circular Letter no. 20/2022 (the “Circular”) provided important clarifications that simplify the procedures for non-European flagged pleasure yachts entering EU waters to carry out maintenance and refitting works at Italian shipyards. The main simplified features are: exemption from guarantees and VAT for maintenance […]
With an injunction order dated 7 April 2022, the Italian Data Protection Authority sanctioned a commercial company for €20,000.00, as it had used a customer’s data without consent and had also failed to comply with a request to exercise the data subject’s rights to obtain information on the processing of his data. The latter, in […]
Pursuant to Section VI (“Assessment of money laundering and terrorist financing risks”) of Chapter II of IVASS Regulation No. 44 of 12 February 2019, insurance undertakings with their registered office in a Member State of the European Union or in a country adhering to the European Economic Area are required to transmit, on an annual […]
ARTICLE 36 OF REGULATION 2015/848: CRISIS AND INSOLVENCY[1] ‘NEGOTIATION LAW‘: SYNTHETIC SECONDARY PROCEEDINGS. Article 36 of Regulation 2015/848 represents an important innovation in insolvency proceedings as its enforcement may have the effect of avoiding the opening of secondary proceedings. According to such an Article, the insolvency practitioner in the main proceedings may give an undertaking […]
With its recent judgment of 28 April 2022, rendered in case C-319/20, the Court of Justice of the European Union held that consumer associations could act against violations of the right to privacy, even in the absence of a specific delegation by the injured party, and even as a preventive measure. The judgment was handed down following action for an injunction brought by German […]
The Italian Finance and Industry Commission at the Senate has expressed a favorable opinion to an important amendment to the “Law Decree Ucraina”, which will allow extra -Schengen seafarers to remain embarked onboard yachts and ships for more than 90 days. The problem of the 90 days time – limit (the so-called 90/180 days rule) […]
In a document issued on 8 April 2022, IVASS provided some application clarifications concerning Regulation 40/2018. The first question revolved around the issue according to which those engaged in the activity of distribution, already registered in section E) of the RUI and subsequently canceled, must obtain a qualification pursuant to Article 22, paragraph 1, letter […]
In offering clarifications regarding IVASS Regulation no. 40/2018, IVASS clarifies some important issues. First of all, it specifies that distribution operators, already registered in section E) of the RUI and canceled after 31 March 2021, are not required to obtain an educational qualification for the purposes of a new registration, by virtue of the transitional […]
