Warning and guideline for servicing activities

On November 25, 2021, the Bank of Italy   sent to the parties referred to in art. 2, paragraph 3, letter c of Law 130/1999 a notice entitled “"Servicers in securitization. Risks profiles and supervisory guidelines".

AIFMD, UCITS and ELTIF review: a new paradigm for asset management

One year after the adoption of the Capital markets union (“CMU”) 2020 action plan, the European Commission (“EC”) on 25 November 2021 started delivering on its commitments, adopting a set of legislative proposals designed to contribute to achieving the CMU objectives.

The role of the supervisory body in the negotiated settlement procedure for the solution of business crises

The negotiated settlement procedure for the solution of the business crisis (the “Negotiated Settlement”) governed by Law Decree 118/2021 converted with amendments into Law 147/2021 (hereinafter the “Decree”) and which entered into force on 15 November 2021, assigns a prominent role, in the identification of the business crisis, to the supervisory body (i.e., in the case of joint stock companies, the board of statutory auditors of the traditional system, the supervisory board of the dualistic system and the management control committee of the monistic system; in the case of limited companies, the board of statutory auditors or the sole auditor).

Investigation on the company chat: no chance to use the collected information without prior notice

The employer’s check on the company’s chat (to be considered as a working tool according to article 4, paragraph 2, of the Statute of Workers) is regulated by paragraph 3 of the same article, according to which the information collected can be used for all the purposes linked to the employment relationship - included the disciplinary ones - '' on condition that an adequate notice over the modalities of use of the tools and of the conduction of controls is given to the employee, and the check are conducted  in respect of provisions of the Decree-Law no. 196/2003".

“Fondo di Garanzia” for SME

Extension until June 30, 2022 of the measures provided by Decree-Law no. 23/2020 ("DL Liquidità") pertaining to the loans guaranteed by “Fondo di Garanzia” for small and medium-sized enterprises ("SME Guarantee Fund").

EU Green Deal: The carbon border adjustment mechanism and the revision of the taxation of energy products and electricity

With the aim to reduce the greenhouse gas emissions, as part of the European Green Deal package, on 14 July 2021 the EU Commission adopted the following acts: 1) proposal for a Regulation establishing a carbon border adjustment mechanism; 2) proposal for a Directive restructuring the Union framework for the taxation of energy products and electricity.