News & Analysis as of September 18, 2024

Italy

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Spotlight on the “Partner Countries” Exemption from Sanctions against Russia

McDermott Will & Emery on 6/7/2024

From June 20, 2024, EU companies with a presence in Russia will no longer be able to rely on the “partner countries” exemption and will be required to obtain, or rely on, a licence to provide business services and/or software...more

[Event] 5th Annual European Forum on Global FDI Reviews - June 11th - 12th, Ixelles, Belgium

American Conference Institute (ACI) on 4/10/2024

Hosted by C5 Group, the 5th Annual European Forum on Global FDI Reviews returns for another exciting year with curated programming that provide sessions on the most pressing issues coming across your desk and strategic...more

New From January 2024 | Participation Exemption for European Corporations on Disposal of Shareholdings

McDermott Will & Emery on 11/28/2023

The Italian government recently approved a draft 2024 budget law which provides for the extension of the domestic participation exemption regime on disposal of shareholdings (PEX) to those non-resident corporations that: (i)...more

Foreign direct investment reviews 2023: A global perspective

White & Case LLP on 3/22/2023

Now in its seventh year of annual publication, White & Case's Foreign Direct Investment Reviews provides a comprehensive look into rapidly evolving foreign direct investment (FDI) laws and regulations in approximately 40...more

Italy Transposes the ECN+ Directive: Significant New Powers for the Italian Competition Authority

White & Case LLP on 2/2/2022

Legislative Decree no. 185/2021 ("Decree"), implementing Directive no. 2019/1/EU ("ECN+ Directive") into Italian law, entered into force on December 14, 2021. The ECN+ Directive primarily aims at strengthening the powers...more

Brexit: Fresh Perspectives - Update

White & Case LLP on 8/3/2021

The UK has left the EU but there remains a vast array of operational and legal issues for businesses to address. See below for our perspectives on the key challenges and opportunities that Brexit presents for different...more

Temporary Post-Brexit Regime Applies to UK Financial Institutions Operating in Italy

Jones Day on 1/21/2021

In Short The Situation: As of the close of the Brexit transition period ending on December 31, 2020 ("Withdrawal Date"), UK banks, UK investment firms, and UK electronic money institutions ("UK Financial Institutions") can...more

Increased regulatory scrutiny of foreign direct investments in the healthcare sector

Dechert LLP on 7/29/2020

Key Takeaways - - Foreign Direct Investment (FDI) controls are proliferating around the globe. Since the pandemic, “health” has become a particular focus. - Several countries have adapted their existing FDI rules, or...more

Foreign direct investment reviews 2019: A global perspective: Italy

White & Case LLP on 1/7/2020

Deals are generally not blocked by the Italian government. However, in connection with the clearance process, conditions may be imposed that can have a significant impact on the investment. The Italian government, which is...more

Italy to Overhaul Class Actions

Jones Day on 7/9/2019

The Situation: Under the new Italian framework, class actions will no longer be limited to consumer protection matters, and collective redress may be sought through simplified proceedings. The Developments: A recently...more

Regolamento (UE) n. 2019/796 e Decisione (PESC) n. 2019/797 del Consiglio dell'Unione europea: "misure restrittive contro gli...

Orrick, Herrington & Sutcliffe LLP on 6/26/2019

In data 17 maggio 2019 sono stati pubblicati sulla Gazzetta ufficiale dell’Unione Europea il regolamento (UE) 2019/796 (“Regolamento”) e la decisione (PESC) 2019/797 (“Decisione”) del Consiglio Europeo concernenti “misure...more

Brexit: al via il decreto legge recante misure urgenti per garantire la stabilit finanziaria e l'integrit dei mercati

Orrick, Herrington & Sutcliffe LLP on 3/28/2019

In data 20 marzo 2019, il Consiglio dei Ministri ha approvato un decreto legge che introduce misure urgenti per garantire la stabilità finanziaria e l'integrità dei mercati in caso di recesso del Regno Unito di Gran Bretagna...more

Italy’s Brexit Law Decree Comes Into Force

Latham & Watkins LLP on 3/27/2019

The law decree lays down a temporary regime for regulated firms in a no-deal Brexit scenario. On 20 March 2019, the Italian Council of Ministers approved a law decree laying down urgent measures to ensure financial...more

Brexit: Italian measures for UK insurers and intermediaries

Hogan Lovells on 3/21/2019

Last night the Italian Government approved the law decree aimed at ensuring financial stability and market integrity in the event of hard Brexit (the "Decree")....more

Italy Temporary Permissions Regime (TPR) for hard Brexit

Hogan Lovells on 3/21/2019

Following the Ministry of Economy and Finance press release of 24 January 2019, last night the Italian Government approved the law decree aimed at ensuring financial stability and market integrity in the event of hard Brexit...more

Italy Readies Measures for a No-Deal Brexit

White & Case LLP on 1/31/2019

On January 24, 2019 the Italian Ministry of Economy and Finance ("MEF") published a press release announcing that the Italian government has readied a set of measures necessary to ensure full continuity for financial markets...more

Restructuring across Europe – a new era?

White & Case LLP on 1/28/2019

All three institutions of the European Union have now approved the EU Preventive Restructuring Framework Directive. This is the EU's first attempt to "harmonise" insolvency laws across the Member States, that have disparate...more

Italy prepared transitional measures to ensure continuity for markets

Hogan Lovells on 1/28/2019

On 24 January, the Italian Ministry of Economy and Finance published a press release informing of having prepared, in full cooperation with the supervisory authorities and after having heard trade associations, the necessary...more

EU and Germany Move to Further Tighten FDI Screening Process

WilmerHale on 12/21/2018

The past two weeks have seen two major developments in relation to the screening of foreign direct investment in the European Union (“EU”) for national security or public order reasons. First, on December 10, 2018, the EU...more

Italian Data Protection Decree Harmonizes National Law with GDPR Provisions

Jones Day on 10/5/2018

The Situation: The Legislative Decree 101/2018 ("Harmonization Decree") harmonizes the Italian data protection laws with the General Data Protection Regulation (EU) 679/2016 ("GDPR") provisions. It was enacted and became...more

Italian insurance legal framework: latest news for insurers and distributors

Hogan Lovells on 2/20/2018

Postponement of IDD implementing provisions - On 14 February the EU Council agreed the text of the proposed Directive to postpone the deadline for the transposition into Member States of Directive 2016/97 on insurance...more

EU & Competition Law Update – August 2017

BCLP on 8/10/2017

The UK Government’s Brexit strategy took another step forward on 13th July 2017 with the publication of the European Union (Withdrawal) Bill, commonly referred to as the “Great Repeal Bill”. There was not much of a fanfare...more

ECJ: Clarification on Withdrawing State Aid from Companies Deemed "Undertaking in Difficulty"

Jones Day on 7/27/2017

The notion of "undertaking in difficulty" is a key element in State aid law because undertakings in difficulty can receive State aid only under the restrictive conditions for so-called rescue and restructuring aid. Any other...more

EBA launches harmonisation of European covered bonds rules

Orrick, Herrington & Sutcliffe LLP on 5/5/2017

On 20 December 2016, the European Banking Authority (the "EBA") published the final version of a report entitled "EBA Report on Covered Bonds - Recommendations on Harmonisation of Covered Bond Frameworks in the EU" (the...more

EBA avvia un processo europeo di armonizzazione della disciplina dei Covered Bonds

Orrick, Herrington & Sutcliffe LLP on 5/3/2017

Il 20 dicembre 2016, la European Banking Authority ("EBA") ha pubblicato la propria relazione finale dal titolo "EBA report on covered bonds – Recommendations on harmonization of covered bond frameworks in the EU" (di seguito...more

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