<strong>As of January 1, 2023, the rules on the key information that investment funds have to provide to savers have changed. </strong> According to the latest amendments to the <strong>Issuers</strong>'<strong> Regulation </strong>(Resolution No. 22551 of December 21, 2022) approved by Consob in implementation of EU regulations, the Key Information Document (KID) already adopted for financial-insurance […]
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On 22 November, EBA published its Guidelines on remote customer due diligence requirements related to AML, in the context of the so-called remote onboarding solutions. The Guidelines implement the request addressed, on September 2020, by the European Commission to EBA related to Digital Finance Strategy for the EU. They focus on the measures that credit […]
In data 22 novembre l’EBA ha pubblicato le Linee Guida sul rispetto degli obblighi di adeguata verifica a distanza della clientela in materia di antiriciclaggio, nel contesto delle soluzioni c.d. di remote onboarding. Le Linee guida attuano la richiesta che la Commissione europea ha rivolto all’EBA nella propria comunicazione del settembre 2020 relativa alla Strategia […]
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On 4 January 2023, the Irish Data Protection Authority (Data Protection Commission) announced that it had imposed two sanctions on Meta Ireland, of EUR 210 million for GDPR violations relating to Facebook and EUR 180 million for violations relating to Instagram, respectively. The inquiry carried out by the Irish Authority had been initiated following two […]
Il 4 gennaio 2023 l’Autorità per la protezione dei dati irlandese (Data Protection Commission) ha reso noto di aver comminato due sanzioni a Meta Ireland, rispettivamente di 210 milioni di euro per le violazioni del GDPR relative al servizio Facebook e di 180 milioni di euro per le violazioni relative al servizio Instagram. L’indagine svolta […]
On 31 October 2022, the European Insurance and Occupational Pensions Authority (EIOPA) published a new methodolgy for assessing value for money in the unit-linked market. The methodology outlines a common European approach concerning the identification of unit-linked products that may offer poor or no value for money and require monitoring by national competent authorities (NCAs) […]
The three European supervisory authorities (EBA, EIOPA, ESMA – the so-called ESAs) launched a public consultation to gather information on greenwashing risks and practices in the banking, insurance and financial sector. The Call for Evidence stems from the need to better understand which sectors might become more susceptible to greenwashing, due to the increasing demand for […]
Consob published in the Discussion Paper series a study titled “Customer profiling for suitability assessment purposes. Follow up of the 2012 study on a sample of Italian intermediaries“. The paper starts from the analysis of a previous 2012 Discussion Paper, expands its contents and follows its methodologtical approach with reference to the formats for the […]
On 8 November 2022, the Director of IVASS Riccardo Cesari, taking part during the Insurance Summit, organised by Il Sole 24 Ore in Milan, presented an overview of innovations in life products between regulation and the market. The evolution of the savings attitude since the 1980s shows values falling from 20% to 8% in the […]
On 8 November 2022, the President of IVASS, Luigi Federico Signorini, taking part during the Insurance Summit, organized by Il Sole 24 Ore in Milan, affirmed and praised the resilience of the Italian economy despite pandemic and the new crisis caused by Russia’s war. At the international level, indeed, the economy is suffering from war-related […]