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INTERNATIONAL INVESTORS MAY OBTAIN REDRESS FOR DISCRIMINATING LEGISLATION IN THE ITALIAN PV SECTOR

Posted by  | May 21, 2019 | comments
INTERNATIONAL INVESTORS MAY OBTAIN REDRESS FOR DISCRIMINATING LEGISLATION IN THE ITALIAN PV SECTOR

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A recent award by an international investment treaty arbitral tribunal, found that Italy was in breach of the Energy Charter Treaty for having adopted in 2011 and the following years, several Decrees remodelling the subsidies granted to PV power plants which negatively affected investments made under the previous Decrees that aimed at promoting investments in the PV sector (the so-called "Conto Energia Decrees I-V"). Whereas, so far, not many investors decided to sue the Italian Government unde ... Read More

ANTI-MONEY LAUNDERING: CONFIDENTIALITY IN REPORTING SUSPICIOUS TRANSACTIONS

Posted by  | May 21, 2019 | comments
ANTI-MONEY LAUNDERING: CONFIDENTIALITY IN REPORTING SUSPICIOUS TRANSACTIONS

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The highest expression of the Anti-Money Laundering Decree is the introduction of the obligation to report suspicious transactions (SOS). Pursuant to Article 35 of the Decree, obligated persons must send the FIU (Financial Intelligence Unit), without delay and before carrying out the transaction, a report of a suspicious transaction, when they know, suspect or have reasonable grounds to suspect that money laundering or terrorist financing operations are in progress or have been carried out or a ... Read More

THE BREXIT TRANSITORY MEASURES FOR INSURANCE COMPANIES OPERATING IN ITALY

Posted by  | April 15, 2019 | comments
THE BREXIT TRANSITORY MEASURES FOR INSURANCE COMPANIES OPERATING IN ITALY

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As a hard Brexit seems more and more likely, the Italian government has adopted Decree n. 22 of 22 March 2019 (the "Decree") which sets the path to follow to assure financial stability and integrity in case of a no deal exit of the UK from the European Union. Although the Brexit scenario changes every day, the Decree provides transitory measures both in the event of a no-deal Brexit as of 12 April 2019 or, in the event a deal is reached, in the event the UK leaves the EU as of 22 May 2019 (the " ... Read More

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