The Italian Stock Exchange Commission has held that banks and investment companies are fully entitled to provide online investment services to investors. It specified that the provision of these services must comply with the applicable legislation and regulations that govern general investment services.
New legislation extends the scope of Italy’s anti-money laundering law to encompass certain financial and business activities considered susceptible to the crime. The new law includes both record-keeping and reporting requirements.
A new legislative decree has come into effect to regulate the now denationalized banking foundations. It endures that they are private and non-profit-making legal entities, dedicated to the pursuit of public interest or promotion of economic development.
A new law has been introduced to deal with securitization of credits. Among other things, it means that securitization will no longer relying on special purpose vehicles outside Italy.
New legislation is being introduced to deal with the transition period of 1999 to 2002 while the euro and national currencies are both legal tender. The new legislation deals specifically with the use of the euro for accounting purposes and the tax consequences of the conversion.
Including: The Structure of the Italian Banking System; The New Regulation of the Financial Markets; Banks’ Mergers and the Securitisation Market in Italy