A Privacy Authority’s fine was issued on October 23rd against the e-Campus online University. The university had sent promotional SMS messages without the consent of the recipients, leading to a penalty of € 75.000 by the Authority. This action was taken in response to complaints from some citizens who were receiving unwanted messages, even after […]
In its letter to the market dated November 22, 2023, IVASS provided the instructions for accessing the ANPR (National Resident Population Registry) through the PDND (National Digital Data Platform). Regarding dormant deposits and policies, Article 3, paragraph 1-quinquies of Presidential Decree No. 116 of June 22, 2007, requires insurance companies to consult the national population […]
The 9th IVASS Supervisory Bulletin published on October 31, 2023, reports a fine by IVASS against Monument Assurance Luxembourg SA – General Representation for Italy, amounting to €96,000, for failure to implement enhanced Anti-Money Laundering due diligence measures in relation to 13 clients.
The Privacy Authority, as part of its efforts to fight against unauthorized telemarketing, recently imposed a 10 million euro fine on Axpo Italia Spa, an energy producer and supplier of gas and electricity. The penalty was issued in response to numerous users’ complaints regarding the company’s activation of unsolicited contracts in their names through the use of […]
On November 13, on the Google Meet platform, it was possible to attend a video conference of the MEFOP Working Table, during which various relevant subject matters relevant to EU legislation were discussed. These included the revision of the SFDR (Sustainable Finance Disclosure Regulation), updates regarding the DORA (Digital Operational Resilience Act), and a proposal […]
On November 11, the Italian Banking Association (ABI) published on its website the fifth edition of the “Communication on Engagement” aimed at promoting the development of an economic model that considers social, environmental, and climate imbalances. The statement describes the activities carried out by ABI from 2021 to the early months of 2023 in line […]
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, […]
