Permanent Establishment (Agenzia delle Entrate Answer No. 96/2023) The Italian Tax Agency (Agenzia delle Entrate, “AE”) considers that the sale of tourist packages in Italy by a foreign company (established in Switzerland), including the charter of pleasure vessels, carried out exclusively from offices located outside the Italian territory and/or when such activity is carried out […]
ANIA has taken official actions against IVASS, sharing the agent´s concerns regarding operational difficulties linked to IVASS Regulation No. 51/2022, proving for the implementation of an online system comparing the offers of the insurance companies operating in the motor vehicle liability insurance in Italy, and the use of platform “Preventivass”. With a letter published by […]
The European Commission organised a “Meeting on the Retail Investment Strategy”‘ on 2 March in Brussels, focusing on the topic of inducements. The Commission intended to seek common ground in favour of an abolition of inducements, the remunerations with which the companies, that create financial products, pay to the distribution networks, by forwarding a part […]
Like any modern novelty for which no updated legal framework exists, and notably in the intangible realm of technology, the arrival of NFTs in the world of business comes with a wealth of legal challenges, particularly in relation to intellectual property rights and copyright infringements. What is the relationship between NFTs and trademarks? Can an […]
IVASS has issued Provision No. 128 dated 20th February 2023, which introduces amendments and additions to IVASS Regulation No. 40 of the 2nd August 2018, on insurance and reinsurance distribution provisions, pursuant to Title IX (General Distribution Provisions) of the CAP (Private Insurance Code). The Provision amends the Regulation solely with regards to Articles 5, […]
In the year 2022, over $5 billion worth of fines were imposed on international banks and financial institutions for anti-money laundering violations and other financial crimes, totalling $56 billion since 2008. In terms of the imposition of sanctions, the United States took the lead with $37.2 billion in fines, followed by Europe, the Middle East […]
In a recent notice sent to the Ministry of Labour and National Labour Inspectorate, the Italian Privacy Authority communicated their first guidelines with regards to the protection of workers’ personal data, for the application of the Legislative Decree no. 104 of 27 June 2022 (the so-called ‘Transparency Decree’) on transparent and predictable working conditions, which […]
The European Banking Authority has launched a public consultation on the draft Implementing Technical Standards (ITS), for supervisory disclosures under the CRD regime. The draft ITS incorporates amendments to the EU legal framework, notably in relation to supervisory reporting and investment companies. In particular, the consultation paper outlines changes to Implementing Regulation 650/2014/EU, which lays […]
The topic of patients’ informed consent lies at the centre of a recent ruling by the Cassazione Civile (no. 1936 of 23rd January 2023), which addresses the concrete information that must be communicated to patients and, in particular, how to perform the duty to disclose information on therapeutic alternatives, and what the consequences are for […]
IVASS – the Insurance Supervisory Authority – has issued twenty fines to Cattolica Assicurazioni SPA (formerly Società Cattolica di Assicurazione – Società Cooperative) and to its former business representatives and board members. The fines, totalling 1.9 million euros, follow a series of inspections that uncovered a number of governance improprieties. The measures are reported in the […]
