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Prospectus regime changes in the EU and U.K. – a debt capital markets outlook

The EU and U.K. prospectus regimes govern disclosure requirements for securities offered to the public and/or admitted to trading on a regulated market. Imminent and forthcoming changes to these regimes will have implications...more

AIFMD II: Unveiling the timeline for the new loan origination regime

The text of the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) (AIFMD II) was published on 26 March 2024 and will enter into force on 15 April 2024. AIFMD II introduces, among other changes,...more

The Capital Markets Bill: A long-awaited reform at a glance

On 2 May 2023, the parliamentary debate to enact a long-awaited bill, commonly known as the Capital Markets Bill, commenced. The Capital Markets Bill is aimed primarily at introducing a number of significant changes in the...more

Pilot Regime - The kick-off of the tokenization of financial instruments

The Regulation is part of the measures proposed by the European Commission aimed at ensuring that the EU embraces the digital revolution in the financial sector. As of today, 22 June 2022, the Regulation (EU) 2022/858 of...more

Implementation of the BRRD II in Italy: key points to note

On 1 December 2021, Legislative Decree No. 193 of 8 November 2021 (the Decree) implementing Directive 2019/879/EU (the BRRD II) into domestic law entered into force. Below is a short summary of some key issues to consider....more

Covid-19 coronavirus: commercial papers in the ECB pandemic emergency purchase programmme of 750 billion euros

In order to deal with the economic emergency resulting from the spread of the Covid-19 coronavirus, the European Central Bank ("ECB") has announced a temporary programme for the purchase of financial instruments amounting to...more

Consob warning notice on the closure of the SeDeX regulated market and the transition of the new MTF system: outline of the...

On 22 November 2017, the Italian Securities and Exchange Commission (Consob) released a warning notice (the Warning) in relation to the closure of the SeDeX regulated market and the launch of the SeDeX multilateral trading...more

11/28/2017  /  CONSOB , EU , Italy , MTFs

European Finance Directors: Alternative Finance Now A Major Source Of Funding – More Alternatives Needed

Research published by Allen & Overy today reveals the extent to which alternative finance has already become a significant contributor to the funding mix for European corporates – having risen to rival bank lending in the...more

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