The Court of Auditor contests the fiscal liability reform introduced by the so-called “Decreto Semplificazioni”
- Posted By Giovanna Aucone
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- 6 August 2020
Art. 21 of the Law Decree no. 76/2020 has limited the fiscal liability action against administrators and public officers before the Court of Auditors in cases involving willful misconduct (except for damages caused by omission or inaction), thus, excluding those…
CONSOB amends the Intermediaries Regulation
- Posted By Giovanna Aucone
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- 6 August 2020
With resolution no. 21466 of July 29, 2020, Consob made a series of amendments to the Intermediaries’ Regulations in order to implement the IDD (Insurance Distribution Directive). The new regulatory text, in fact, has been prepared in compliance with the…
IVASS publishes Measure no. 97/2020
- Posted By Giovanna Aucone
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- 6 August 2020
On 4 August 2020 IVASS published Measure no. 97 of August 4 2020, amending ISVAP Regulations no. 23/2008, no. 24/2008 and IVASS Regulations no. 38/2018, no. 40/2018 and no. 41/2018. Below are the amendments introduced with respect to each of…
IVASS publishes Regulation No. 45/2020
- Posted By Giovanna Aucone
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- 6 August 2020
On August 4, 2020, IVASS published Regulation No. 45 containing provisions on the governance and control requirements for insurance products, thereby completing the regulatory provisions on the subject set out in the POG Delegated Regulation and the CAP, thus implementing…
The right to cancel the contract and the Insurer’s forfeiture pursuant to Article 1892 of the Italian Civil Code
- Posted By Giovanna Aucone
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- 5 August 2020
With regard to personal accident insurance, the 3rd Section of the Italian Supreme Court by order no. 1166 of 21.01.2020, clarified that the period of three months triggered from the discovery of inaccurate or reticent declarations (pursuant to article 1892…
Application of interest on late payments to Insurance Indemnity
- Posted By Giovanna Aucone
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- 5 August 2020
The Third Civil Section of the Italian Supreme Court by order no. 7966 dated 20 April 2020, clarified that the interest on late payments provided for by Legislative Decree no. 231/2002 is not applicable to insurance indemnity related to civil…
IVASS – Updating of rules of interest for foreign intermediaries
- Posted By Giovanna Aucone
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- 5 August 2020
On 3 August 2020, IVASS published an update of the general interest rules applicable to foreign intermediaries and relating to obligations and rules of conduct for intermediaries. This list cannot be considered exhaustive, therefore foreign intermediaries are not exempted from…
IVASS: Recommendations on dividend distribution and remuneration policies
- Posted By Giovanna Aucone
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- 4 August 2020
On July 30, 2020, IVASS, in view of the uncertainties regarding the evolution of the emergency situation and taking into account the recommendation of the European Systemic Risk Board (ESRB) of May 27, asked the companies for some solutions on…
In the consultation the amendments to the Intermediaries’ Regulations: knowledge and competence requirements for the agents of the network
- Posted By Giovanna Aucone
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- 27 July 2020
On July 23, 2020, Consob placed in public consultation the proposals for amendments to the Intermediaries’ Regulations concerning the knowledge and competence requirements of intermediaries’ agents. In this regard, it should first be recalled Article 25, paragraph 1 of Directive…
In the consultation the amendments to the Intermediaries’ Regulations: knowledge and competence requirements for the agents of the network
- Posted By Giovanna Aucone
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- 24 July 2020
On July 23, 2020, Consob placed in public consultation the proposals for amendments to the Intermediaries’ Regulations concerning the knowledge and competence requirements of intermediaries’ agents. In this regard, it should first be recalled Article 25, paragraph 1 of Directive…