INSIGHTS
26/04/2023
The new public contracts code
By Francesco Marone, Sofia Arata, Francesco Moroni, Nicola Cataldo Following the approval by the Italian Council of Ministers of the final text on 28 March 2023, the new Public Contracts Code (Italian Legislative Decree no. 36 of 31 March 2023, hereinafter also “the Code”) was published in the Italian Official Gazette on 31 March 2023, […]
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23/03/2023
Issuance of notes under EMTN in dematerialized form. The BPER case (and more)
by Federico Morelli BPER’s recent issuance represents a market first in the Italian legal landscape. For the first time, an Italian bank has issued notes under its EMTN in Italy (and not in London) and in dematerialized form (and not in global note form).
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22/12/2022
The tax liabilities of the transferee of a business are limited even without the “certificate”
by Paolo Serva The (never ending) debate concerning the extent of the business transferee’s tax liability pursuant to Article 14 of Italian Legislative Decree no. 472/1997 has been further expanded by a new interpretation recently issued by the Tax Court of First Instance of Rome (Judgment no. 13223/2022 filed on 24 November 2022).
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29/07/2022
The recovery needs the capital market. Public consultation on the mef green paper closed
by Martino Liva On 2 March 2022, immediately following the online presentation seminar, the Green Paper prepared by the Italian Ministry of Economy and Finance (MEF), in conjunction with Consob and the Bank of Italy was published, titled The competitiveness of Italian financial markets in support of growth [La competitività dei mercati finanziari italiani a […]
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20/06/2022
ESG criteria, main implications and perspectives for real estate operators
By Michael Panfili Environmental, Social & Governance (ESG) and sustainable investments are among the recent priorities of the real estate industry. Sustainability brings with it a change that will also significantly impact the real estate industry, given that a quarter of emissions within the EU come from the building sector.
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INSIGHTS
12/05/2022
The Growing Importance of ESG in the Italian M&A Market
The importance of ESG concerns has become apparent in the M&A and private equity fields, as market players appear to be particularly focused on integrating sustainability and ESG standards in their operating models. In the Italian market, the attraction of sustainable investments has grown significantly; a rise prompted by a legislature that is keenly observant […]
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20/04/2022
The reform of the so-called Golden Powers regime as a means of reacting to the Ukrainian political and military crisis
by Sofia Arata 1. Introduction Following the escalation of the Russian-Ukrainian conflict, the Italian Government deemed it was essential to react by issuing a number of emergency decrees in order to provide an immediate and effective political response to the numerous challenges posed by the outbreak of the war, including those relating to national security […]
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14/03/2022
The new regulatory framework on the MREL – implementation in Italy of Directive (EU) 2019/879 (BRRD II)
By Alessandra Davoli 1. The implementation of BRRD II in Italy On 30 November 2021, Italian Legislative Decree no. 193 of 5 November 2021 was published on the Official Gazette (“Legislative Decree 193/2021” or the “Decree”) for the purposes of implementing in Italy Directive (EU) 2019/879 (“BRRD II”). BRRD II amends Directive 2014/59/EU (“BRRD”) as […]
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10/02/2022
Listed companies governance: how politics and Consob are facing the practice of the list of candidates presented by the board
Abstract According to Italian Law regulating listed companies (legislative decree no. 58/1998), directors of listed companies are appointed by the shareholders’ meeting on the basis of slates (lists of candidates) submitted by shareholders holding a qualified shareholding identified also on the basis of Consob (the Italian public authority responsible for regulating Italian financial markets) regulations.
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