As part of a series of recent FDI reviews, the Italian government has determined that the grant of a pledge over shares of Italian companies in strategic sectors triggers the filing requirement under the Italian FDI regime,...more
The Italian legislators and CONSOB enacted new measures, as part of a general attempt to modernize the market infrastructure.
The new rules relate to, inter alia, the following:
The issuance of unlisted debt...more
The Italian legislature enacted new measures , effective from March 27, 2024, to attract new investors to the Italian capital markets and rationalize corporate governance dynamics (the "Capital Markets Law")....more
Expectations of a surge in non-performing loans in Italy have failed to materialize, with the country’s banking system and economy holding firm in the face of macroeconomic volatility -
Despite annual inflation still...more
The attention of financial regulators on environmental, social and governance factors is significantly and rapidly increasing. A proper integration of ESG features in the business model of financial and non-financial entities...more
6/9/2023
/ Bank of Italy ,
Climate Change ,
Environmental Social & Governance (ESG) ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Regulatory Agencies ,
Italy ,
Non-Financial Firms ,
SFDR ,
Sustainable Finance
The past six months have seen difficult economic times in much of Europe, with governments and central banks seeking to respond to both the increases in costs of living and the need to curb inflation. Notwithstanding the...more
5/16/2023
/ Belgium ,
EMEA ,
EU ,
Germany ,
Italy ,
Legislative Agendas ,
Luxembourg ,
Popular ,
Real Estate Investments ,
Spain ,
UK
The recent conflict in Ukraine is affecting the entire global economy and causing severe consequences for many Italian companies. To address the current scenario, the Italian legislators introduced:
(i) a specific first...more
Borsa Italiana has released a new regulation, effective October 3, 2022, that simplifies the Euronext listing admission process.
Consistent with the listing rules of EU peer securities exchanges, the issuer and the...more
On 27 August 2022, the 2021 Annual Law for Competition (Law No. 118 of 5 August 2022) will enter into force.
The final law reflects the key provisions of the draft law issued by the Government on 4 November...more
The Italian Securities Commission (Consob) has enacted rules that allow the use of an English language prospectus for IPOs and rights issues in Italy and shorten the prospectus review period.
On August 1st, Consob...more
What does the future hold for NPLs? There's still plenty of business to be done, but buyers and sellers alike will need to change tack to get the most from the available opportunities....more
6/27/2022
/ Banking Sector ,
Buyers ,
Coronavirus/COVID-19 ,
Financial Institutions ,
France ,
Greece ,
Ireland ,
Italy ,
Loans ,
Non-Performing Loans (NPL) ,
Sellers ,
UK
The Italian Competition Authority updated its merger control turnover thresholds. Effective 21 March 2022, Section 16(1) of Law No. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions...more
Consob initiated a public consultation concerning important new IPO rules aimed at simplifying and shortening the prospectus approval process and to reduce listing costs, which would bring Italian practice closer in line with...more
After several delays, on November 4, 2021, the Italian Council of Ministers examined and finally approved the draft Annual Law for Competition ("Draft") pursuant to Article 47 of Law No. 99/2009.
The Draft reflects most...more
Since March 2020, the Italian Government has enacted a package of measures designed to help Italian businesses survive the dramatic effects of the coronavirus ("COVID-19") pandemic. The measures include guarantee schemes from...more
Over the last three months, the Italian Government has enacted a package of financial assistance designed to help Italian businesses survive the dramatic short-term effects of the coronavirus ("COVID-19") pandemic. The...more
7/14/2020
/ Board of Directors ,
Borrowers ,
Business Continuity Plans ,
Coronavirus/COVID-19 ,
Creditors ,
Federal Loans ,
Financial Assistance Policies ,
Italy ,
Liquidity ,
Privately Held Corporations ,
Publicly-Traded Companies ,
Relief Measures ,
SACE Guarantee Scheme ,
Shareholders ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business
On 8 April 2020, the Italian Government enacted Law Decree no. 23 of 2020 (the "Restore Liquidity" Decree). In combination with Law Decree no. 18 of 17 March 2020 (the "Cure Italy" Decree), it provides businesses affected by...more
4/10/2020
/ Directors ,
Fiduciary Duty ,
Financial Assistance Policies ,
Funding ,
Italy ,
Liquidity ,
Midsize and Large Business Loans ,
SACE Guarantee Scheme ,
Shareholders ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business Loans
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more
12/4/2019
/ Apartments ,
Consumer Lenders ,
EU ,
EURIBOR ,
Foreign Entities ,
France ,
Germany ,
Insolvency ,
Italy ,
Leaseholds ,
Libor ,
Loans ,
Mortgage-Backed Securities ,
Poland ,
Real Estate Financing ,
Real Estate Investments ,
Real Estate Transactions ,
Rental Property ,
Residential Leases ,
Secured Overnight Funding Rate (SOFR) ,
Securitization ,
Spain ,
Special Purpose Vehicles ,
Sterling Overnight Index Average (SONIA) ,
UK ,
Withholding Tax
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more
6/11/2019
/ Asia ,
Base Erosion Tax ,
Belgium ,
BEPS ,
Commercial Tenants ,
Cross-Border Transactions ,
Czech Republic ,
Direct Purchasers ,
EBITDA ,
EU ,
European Economic Area (EEA) ,
FATF ,
Foreign Banks ,
Foreign Exchanges ,
France ,
Germany ,
Green Finance ,
IAEA ,
IFRS ,
Illegal Conduct ,
Instrument for Supporting Trade Exchanges (INSTEX SAS) ,
International Atomic Energy Agency ,
International Property Securities Exchange (IPSX) ,
Iran ,
Italy ,
Joint Comprehensive Plan of Action (JCPOA) ,
Landlords ,
Loans ,
Mortgages ,
Non-Performing Loans (NPL) ,
Poland ,
Popular ,
Real Estate Companies ,
Real Estate Development ,
Real Estate Investments ,
REIT ,
Spain ,
Stamp Duty Land Tax ,
Sustainability ,
Tax Deductions ,
Tax Treaty ,
Traders ,
Trump Administration ,
UK ,
UK Brexit ,
Withholding Tax
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
1/31/2019
/ Cross-Border Transactions ,
EU ,
Financial Markets ,
Foreign Corporations ,
Investment Funds ,
Investor Protection ,
Italy ,
Member State ,
No-Deal Brexit ,
Passporting ,
Proposed Legislation ,
Transitional Arrangements ,
UK