On 14 May, ESMA (European Securities and Markets Authority) published guidelines for funds that use ESG terms or other sustainability-related terms in their names. ESMA emphasized that a fund’s name is a marketing tool that conveys information about the fund. Therefore, to better protect consumers and prevent them from being misled by greenwashing practices, the […]
With letter to the market addressed to health insurance companies with legal headquarters in Itay, published on 9 May, IVASS announced the start of a survey on collective contracts in the health sector, distinguishing those signed by health funds or similar entities from those signed by organizations of a different nature. Companies with legal headquarters in […]
With decision no. 137 of March 7, 2024, the Italian Data Protection Authority confirmed that employees have the right to access their data held by employers, regardless of the reason for the request. This principle was confirmed following a complaint by a former bank employee who had requested access to her personal file to understand […]
On April 29th, IVASS (Institute for Insurance Supervision), following the Market Letter of February 20th, published the “Instructions for the electronic transmission of data for the Infostat collection of information related to investment monitoring and life premium collection (MOINV)”. The document is addressed to all companies based in Italy and the secondary offices established in […]
On May 2nd, EIOPA (European Insurance and Occupational Pensions Authority) published the results of the review conducted on the supervision by the National Supervisory Authorities regarding the application and compliance with the “principle of the prudent person”. The European Authority emphasized that this principle is of particular importance within the Solvency II regulatory framework, as […]
On April 29th, the European Banking Authority (EBA) published an opinion on new types of payment fraud, in accordance with Regulation (EU) No. 2093/2010, which assigns to the Authority the task of developing a coordinated approach to the regulatory treatment and supervision of new or innovative financial activities. Within the document, the EBA assesses the […]
On April 29, the European Securities and Markets Authority (ESMA), published its response to the query brought by the Central Bank of Ireland (CBI) and the Commission de Surveillance du Secteur Financier (CSSF). ESMA welcomed the Authorities’ intention to apply restrictions to alternative investment funds (AIFs) in GBP that are employing an LDI strategy and […]
On April 24, 2024, the implementing decree issued by the Minister of Health (the “Decree”) to Law No. 193/2023 on oncological oblivion (“Law No. 193/2023”), approved last December, was published in the Gazzetta Ufficiale (Official Gazette of the Italian Republic). As provided for under Article 5 of Law No. 193/2023, with the Decree, the Minister […]
By the order n. 6792 of 14 March 2014, the Supreme Court of Cassation has clarified that the judgment regarding the non-performance of a professional activity consists of two steps: the first relates to the performance of the professional activity, the second to having performed the professional activity in accordance with the rules of diligence […]
On April 18 2024, the European Supervisory Authorities (EBA, ESMA, and EIOPA, collectively the “ESAs”) launched a public consultation on the draft Regulatory Technical Standards (RTS), concerning the conduct of supervisory activities related to joint examination groups under Regulation (EU) 2022/2554 (Digital Operational Resilience Act, DORA). The regulatory technical standards (RTS) – developed in accordance […]
