On April 15, 2024 , CONSOB (“National Commission for Companies and the Stock Exchange”) published on its website a press release jointly adopted with the Spanish, French and Austrian Supervisory Authorities, Comisión Nacional del Mercado de Valores (CNMV – Spain), the Autorité des marchés financiers (AMF – France) and the Finanzmarktaufsicht (FMA – Austria), concerning […]
With decision No. 9418/2024 of April 9, 2024, the Italian Supreme Court ruled again on the nature of unit-linked policies. The ruling, recalling the previous cases law on the point, highlighted that unit-linked policies, to be qualified as an insurance product, must contain a demographic risk consisting of an event linked to human lifespan, upon […]
The Italian Court of Cassation recently ruled on the complex issue of the reimbursement of premiums paid to agents following the early termination of the contract on initiative the agent, regardless of the reason for termination. The dispute was originally been pending with the Court of Naples. Said local court had ruled in favour of […]
With decision No. 97 dated February 22, 2024, the Italian Data Protection Authority (or the “Authority”) imposed a fine of € 75,000.00 on a Local Health Authority (ASL) for irregularities in handling the electronic health record. The investigations stemmed from several reports concerning improper access to personal data through the healthcare organization’s storage and reporting […]
On April 11th, the European Supervisory Authorities (ESAs), ESMA, EBA and EIOPA, announced the launch of a voluntary trial run regarding collection of the registers of information of contractual arrangements on the use of ICT third-party service providers by the financial entities requested under the DORA (Regulation) in May 2024. The dry run exercise has […]
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 […]
