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The Bank of Italy launched a public consultation regarding new AML reporting which would replace the AML questionnaire that has been sent out for the last two years. On 31 July 2024, the Bank of Italy launched a public...more
IVASS has recently issued a regulatory measure amending and integrating its secondary rules on anti-money laundering (AML) compliance and governance aimed at preventing the use of insurance companies and insurance...more
Initially, the UBO Decree mandated that companies, recognized foundations and associations, trusts, and fiduciary mandates based in Italy fulfill their duty to report data and information on ultimate beneficial ownership by...more
The 29 September 2023 Decree of the Ministry of Enterprise and Made in Italy (the Provision) finally implementing the Register of Ultimate Beneficial Owners (the UBO Register), as required by Legislative Decree 231/2007 (the...more
Il 9 ottobre è stato pubblicato in Gazzetta Ufficiale il Decreto del Ministero delle Imprese e del Made in Italy (il “MiMIT”) del 29 settembre 2023 che ha attestato l’operatività del sistema di comunicazione dei dati e delle...more
On 15 June 2023, the Bank of Italy published on its website a series of acts aimed at reviewing the domestic AML rules to comply with EBA Guidelines on the use of remote customer onboarding solutions....more
The Italian Ministry of Economy and Finance issued the long-awaited decree regarding the Italian register of payment services agents, e-money distributors and central contact points for AML supervision....more
The Decree lays down provisions on the communication of data and information on the beneficial ownership of Italian companies, private legal persons, trusts and similar institutions....more
Pursuant to the Law Decree no. 55 of 11 March 2022 (the “Decree”), published in the Italian Official Gazette on 25 May 2022, information about beneficial owners of Italian companies, foundations, associations and trusts will...more
The long-awaited decree regarding the establishment and regulation of the beneficial owner register in Italy was published in the Italian Official Gazette. Following a public consultation, on 25 May 2022 the long-awaited...more
The Italian Ministry of Economy and Finance ("MEF") issued a new decree ("Decree") requiring that virtual asset/currency service providers promptly enroll in a soon-to-be established special section of the register held by...more
The Italian Ministry of Economy and Finance launched a public consultation on the long-awaited draft decree for the establishment of the Italian register of payment services agents, e-money distributors and central contact...more
The Counsel of State suspended the adoption of its opinion on the draft decree of the Ministry of Economy and Finance setting up and governing the functioning of the Italian register of ultimate beneficial owners causing a...more
Italian news on on-line KYC for AML purposes, including the possibility to rely on SCA when certain conditions are met, have been confirmed. On 14 September, Law Decree No. 76/2020 regarding urgent measures for...more
On 16 April 2020 the Italian Financial Intelligence Unit (FIU) published a communication stressing the need for intermediaries, professionals, other qualified entities and public administrations to calibrate AML measures in...more
On the basis of the measures recently adopted by the Italian Government to face the current COVID-19 emergency, on 10 April 2020, the Bank of Italy issued its recommendations to financial intermediaries on (i) anti-money...more
1. IVASS monitoring KIDs of insurance-based investment products (IBIPs) - On 10 July, IVASS launched a preliminary public consultation which could possibly be followed by a tendering procedure for the selection of a...more
Banca d'Italia, con il Provvedimento del 26 marzo 2019, ha emanato le nuove "Disposizioni in materia di organizzazione, procedure e controlli interni volti a prevenire l'utilizzo degli intermediari a fini di riciclaggio e di...more
Cboe Withdraws and Then Submits a Proposed Rulemaking for a Bitcoin ETF - On January 22, 2019, Cboe BZX Exchange (Cboe) withdrew its proposed rulemaking with the U.S. Securities and Exchange Commission (SEC). Had the...more
1. QUADRO NORMATIVO REGOLAMENTARE - Il D.Lgs. 25 maggio 2017, n. 90, recependo la c.d. "IV Direttiva Antiriciclaggio", ovvero la Direttiva (UE) 2015/849, ha sostanzialmente e significativamente innovato il D.Lgs. 21...more
1. Fascicolo del Titolare Effettivo - Il Decreto Legislativo 25 maggio 2017, n. 90 (di seguito il "Decreto"), in vigore dal 4 luglio 2017, ha recepito la Direttiva 2015/849/UE e, ai fini del contrasto al riciclaggio e al...more
Lo schema di decreto legislativo approvato dal Governo lo scorso 23 febbraio 2017, ed ora sottoposto all'esame del Parlamento (di seguito "Schema di Decreto"), recante attuazione della Direttiva (UE) 2015/849 del Parlamento...more
The beginning of the end for national TV boundaries? On 22 April 2016, the European Commission ("EC") invited industry comment on the commitments proposed by Paramount Pictures International Limited ("Paramount") in...more