The European Insurance and Occupational Pensions Authority (EIOPA) has released the Insurance Risk Dashboard for November 2023 on its website. The Risk Dashboard, based on Solvency II data, summarizes the key risks and vulnerabilities of the insurance sector in the European Union through a set of risk indicators. The data is based on financial stability […]
During the 45th Global Privacy Assembly, a conference bringing together all data protection authorities worldwide, held from October 15 to 20 in Hamilton, Bermuda, one of the hot topics was artificial intelligence, particularly generative AI (such as ChatGPT). The Privacy Authority collaborated with German and UK authorities to draft a resolution on the use of […]
On November 8, Banca d’Italia, in collaboration with CONSOB and in partnership with the Financial Agents and Credit Mediators Authority (OAM), announced its intention to conduct an exploratory survey to understand the level of interest in Italy in conducting activities falling within the scope of the EU Regulation No. 2023/1114 – MiCAR (Market in Crypto-Assets […]
On November 7, 2023, EIOPA (European Insurance and Occupational Pensions Authority) published the technical information on relevant structures for risk-free interest rates, the so-called RFR (Risk-Free Rate), with reference to the month of October on its website. Pursuant to the Solvency II Directive EIOPA is held to publish such information periodically. In accordance this obligation, […]
With communication published on October 30th on the website of the Banca d’Italia, the criteria to be fulfilled in order to suspend the reimbursement of unauthorized transactions by Payment Service Providers (PSPs), as well as the necessary procedures for the reporting of such suspension, have been specified. In compliance with the reporting obligation under article […]
On October 20th, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) published a consultation document on two joint guideline drafts that aim at providing the national Authorities with a common methodology to assess the suitability of board members, shareholders, holders of qualifying holdings in ART (Asset Referenced Token) issuers and […]
With communication published on October 6 on IVASS’ homepage, the Authority has extended the term for the filing of comments and observation to the draft of the letter to the market regarding the expectations of the Italian Surveillance Authority on the implementation of the POG, published for public consultation on October 6, to November 13, […]
On October 18th, the European Court of Justice ruled on the mandatory insurance requirement for pedal-assist electric bicycles. In fact, while Italy is moving towards imposing third-party liability insurance for electric scooters, the European Court appears to go in the opposite direction as regards e-bikes. The proceeding was brought by a Belgian court with regard […]
On October 19th in Rome, Confindustria and Assicurazioni Generali (with the participation of the National Cyberseurity Agency) presented the first “Cyber Index PMI Report”, which is an index aimed at measuring the awareness of cyber risks among small and medium sized enterprises. The report is based on questionnaires completed by 708 small and medium sized enterprises […]
On October 6th, the European Insurance and Occupational Pensions Authority (EIOPA) published an opinion on the supervision of captive reinsurance companies in the public consultation procedure. The opinion drafted based on Article 29 of EU Regulation No. 1094/2010, that mandates the European Authority to play an active role in establishing a common supervisory culture within […]
