Bancassurance and Privacy: The Bank is a Data Processor
- Posted By Pierangela Rodilosso
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- 27 June 2022
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…
Guidelines On Appropriateness And Execution-Only, Issued By ESMA In The Framework Of Directive 2014/65/EU (Mifid II)
- Posted By Giovanna Aucone
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- 9 June 2022
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…
Simplified Regulation For Non-Eu Pleasure Yachts For Maintenance And Refitting Works In Italy
- Posted By Domenico Rinaldi
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- 8 June 2022
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…
Telemarketing and Privacy: A Company Sanctioned for Failing to Reply to a Customer
- Posted By Pierangela Rodilosso
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- 30 May 2022
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…
Foreign Insurance Undertakings Carrying On Life Insurance Business Under The Freedom To Provide Services – Reporting Under Section V (Intermediaries)
- Posted By Giovanna Aucone
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- 30 May 2022
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…
Article 36 of Regulation 2015/848: Crisis and insolvency ‘Negotiation law’: synthetic secondary proceedings
- Posted By Rita Franceschelli
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- 30 May 2022
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…
Privacy And Class Action: Admitted Even In The Absence Of A Power Of Attorney
- Posted By Pierangela Rodilosso
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- 5 May 2022
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…
Italian Parliament Is Making Progress To Save The Yachting Industry
- Posted By Gianfranco Puopolo
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- 4 May 2022
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…
Clarifications Concerning The Educational Qualification Requirement For Distribution Agents
- Posted By Giovanna Aucone
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- 19 April 2022
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…
Application Clarifications Concerning Ivass Regulation No. 40/2018
- Posted By Giovanna Aucone
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- 12 April 2022
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…