On April 4th, EIOPA published a document on the supervision of reinsurance activity with companies operating in third countries, following the provisions of Directive 2009/138/CE (Solvency II) and Annex Delegated Regulation (EU) 2015/35. The document highlights risks arising from reinsurance activities with reinsurers operating in a regulatory framework different than that regulated by the Solvency […]
The Council of State, with the recent decision no. 10455 of December 4, 2023, reaffirmed that the state-owned maritime concessions shall be subject to public bids for tenders, as established by EU law and by the predominant EU Court of Justice’s case-law. This principle is also enshrined under article 12 of Directive 2006/123/CE (the so-called […]
PG Legal Superyach team is proud to announce that has assisted the International Yacht Brokers Association (IYBA) in establishing the European Chapter of the association that will have its principal seat and registered office in Rome and branches in other European countries. Gianfranco Puopolo, founding partner of PG Legal and member of IYBA is the […]
Today (April 10, 2024) the Lazio Regional Administrative Court (“TAR”), in six judgments (6837, 6839, 6840, 6841, 6844, 6845) delivered its opinion on the Register of beneficial owners referred to in Article 21, paragraph 3, of Legislative Decree No. 231/2007, rejecting all petitions which had been filed by some fiduciary management companies which alleged the […]
In ruling no. 4275 of 16 February 2024, the Italian Court of Cassation, addressed once again the subject of ” legal defence costs ” in liability proceedings, confirming its previous rulings (precisely: ruling no. 26683 of 15 September 2023 and ruling no. 21290 of 5 July 2022). In the proceeding brought against a decision of […]
On March 12, COVIP published on its website the resolution of February 7, 2024, entitled “Determination of the measure, terms, and methods of payment of the contribution due to COVIP by supplementary pension funds in the year 2024, under art. 1, paragraph 65, of Law No. 266 of December 23, 2005”. The resolution provides that, […]
On March 29, IVASS published on its website an announcement containing updates regarding the new RUI portal, which will come into effect on June 4th. Intermediaries and insurance companies will be able to update the RUI by themselves, in particular: intermediaries will be able to submit the enrolment in RUI or the enrolment of their […]
On March 21, IVASS published on its website Delegated Regulation (EU) 2024/896 (approved on December 5, 2023), which has amended Directive (EU) 2016/97 on the distribution of insurance products “IDD”. Following the amendments, the IDD Directive has provided that insurance and reinsurance intermediaries will be required to take out a policy or a similar guarantee […]
With Decisions nos. 105, 106, 107, 108, 109 of 22 February 2024, The Italian Data Protection Authority (‘IDPA’) sanctioned five companies (with fines up to €70,000.00) for unlawful processing of biometric data of a large number of employees, and specifically for using facial recognition systems to check the presence of employees in the workplace. These […]
On March 27, IVASS (the Institute for the Supervision of Insurance) published a letter to the market addressed to insurance companies with registered offices in Italy, for branch offices, located in Italy, of companies with registered offices in third states and de facto producers, regarding the governance and control of insurance products – Product Oversight […]
