1) AGCM authorises the entry of France\u2019s SNCF into the Italian high-speed rail market<\/strong><\/p>\n On 3 March 2026, the Italian Competition Authority (Autorit\u00e0 Garante della Concorrenza e del Mercato \u2013 AGCM) adopted decision No. 31869 concerning barriers to access to the passenger rail transport market on the high-speed network, following a complaint filed by SNCF Voyages Italia.<\/p>\n 2) European Commission: amendments to the General Block Exemption Regulation (GBER) on State aid opened for public consultation<\/strong><\/p>\n On 25 February 2026, the European Commission launched a public consultation on the revision of Regulation (EU) 2014\/651 (General Block Exemption Regulation \u2013 GBER) concerning State aid.<\/p>\n 3) Council of State: the use of the \u201csoccorso istruttorio<\/em>\u201d mechanism is not permitted to supplement documentation proving the possession of a requirement already declared during the tender procedure<\/strong><\/p>\n With judgment No. 1300\/2026 of 18 February 2026, the Council of State once again ruled on the scope of application of the \u201csoccorso istruttorio<\/em>\u201d provided for under Article 101 of the Public Contracts Code.<\/p>\n 4) CJEU: declaration of incompatibility with EU law of the right of pre-emption in the context of Project Financing. Effects of the judgment on ongoing and future procedures<\/strong><\/p>\n By judgment of 5 February 2026 (Case C-810\/24), the Court of Justice of the European Union addressed the long-standing issue of the compatibility with EU law of the right of pre-emption granted to the project promoter pursuant to Article 193(12) of Legislative Decree No. 36 of 31 March 2023.<\/p>\n 5) Confidi and de-stocking securitisations: final approval of the Annual SMEs Law<\/strong><\/p>\n On 4 March 2026, the Italian Senate definitively approved the Annual SMEs Law. Among its main provisions, the law introduces a delegation to the Government for the reorganisation of the regulatory framework governing guarantee consortia (Confidi) and amends Law No. 130\/1999.<\/p>\n 6) Consob and ANAC: Memorandum of Understanding on listed public companies<\/strong><\/p>\n On 2 March 2026, the National Commission for Companies and the Stock Exchange (Consob) and the National Anti-Corruption Authority (ANAC) signed a Memorandum of Understanding aimed at establishing effective cooperation between the two authorities within their respective institutional competences.<\/p>\n 7) The Court of Cassation revisits the relationship between disciplinary proceedings and the establishment of facts in criminal proceedings<\/strong><\/p>\n With judgment No. 4684 of 2 March 2026, the Court of Cassation confirmed the full admissibility of disciplinary charges raised per relationem by reference to the acts of criminal proceedings brought against the employee, provided that the criminal charges are known to the employee, thereby safeguarding the principles of fairness and adversarial proceedings.<\/p>\n 8) The Court of Cassation on the dismissal of an employee who, while on holiday, synchronised hundreds of strategically important company files<\/strong><\/p>\n By order No. 4371 of 26 February 2026, the Court of Cassation upheld the second-instance judgment, ruling that the conduct of an employee who, on a day of leave, synchronised hundreds of files of strategic importance for the company is disciplinarily relevant, but does not amount to just cause for dismissal, in the absence of proof by the employer of fraudulent intent, actual damage suffered, and the misappropriation of confidential data. 9) European Commission: consultation launched on private equity investment exit mechanisms<\/strong><\/p>\n On 2 March 2026, the European Commission launched a consultation aimed in particular at private equity and growth capital investors to gather feedback on the difficulties encountered when exiting investments in the European market and on possible solutions.<\/p>\n 10) Data Centres \u2013 Decree-Law introducing a single permitting procedure published in the Official Gazette<\/strong><\/p>\n On 20 February 2026, Decree-Law No. 21\/2026 (the so-called \u201cEnergy Decree<\/strong>\u201d) was published in the Official Gazette. Among other things, it introduced a single administrative procedure for the construction and expansion of data centres and related end-user connection networks.<\/p>\n 11) Student Housing \u2013 Decree-Law simplifying the administrative process for construction works financed by PNRR funds published in the Official Gazette<\/strong><\/p>\n On 19 February 2026, Decree-Law No. 19\/2026 was published in the Official Gazette, providing, inter alia, specific urban planning simplification measures for construction projects relating to university residences financed by PNRR resources.<\/p>\n 12) Consolidated Finance Act (TUF): legislative decree implementing alignment with EU legislation published in the Official Gazette<\/strong><\/p>\n On 5 March 2026, Legislative Decree No. 28 of 9 February 2026 was published in the Official Gazette, pursuant to which the Consolidated Finance Act (TUF) was aligned with certain EU provisions relating, inter alia, to investment services, central securities depositories, the European single access point, and the regulation of third-country central counterparties.<\/p>\n 13) EBA: third-country branches \u2013 guidelines on capital requirements and ITS on prudential reporting published<\/strong><\/p>\n In early March 2026, the European Banking Authority published the final guidelines on instruments for meeting the capital requirements of third-country branches, as well as the final report on the draft implementing technical standards relating to prudential reporting by such branches.<\/p>\n 14) EMIR 3 ESMA: draft RTS on transparency of fees and margin models under EMIR 3 published<\/strong><\/p>\n On 2 March 2026, the European Securities and Markets Authority published two Final Reports containing new draft regulatory technical standards on transparency of costs and margin models pursuant to the revision of Regulation (EU) 2012\/648 (so-called EMIR 3).<\/p>\n 15) Bank of Italy: Strategic Plan 2026\u20132028 published<\/strong><\/p>\n On 2 March 2026, the Bank of Italy published its Strategic Plan for the 2026\u20132028 three-year period, setting out the Institute\u2019s priorities and lines of action to address a complex and rapidly evolving international environment.<\/p>\n 16) European Commission: public consultation launched on the competitiveness of the European banking sector<\/strong><\/p>\n On 11 February 2026, the European Commission launched a consultation aimed at gathering contributions for the preparation of the 2026 report on the competitiveness of the European Union\u2019s banking sector.<\/p>\n 17) In interest rate swaps, the indication of the mark-to-market, the anchoring of probabilistic scenarios to historical data and proper pre-contractual disclosure may ensure the worthiness of the transaction due to the existence of a rational risk (Cass. civ., First Civil Section, 3 February 2026, No. 2262; Cass. civ., First Civil Section, 4 February 2026, No. 2358<\/em>)<\/strong><\/p>\n In the two recent \u201ctwin\u201d orders under review, issued in the same deliberation session, the Supreme Court once again ruled on interest rate swap (\u201cIRS<\/strong>\u201d) derivative contracts. Both decisions stem from rulings of the Milan Court of Appeal which, in different contexts, had excluded the nullity of such contracts despite objections concerning the lack of indications on the mark-to-market (\u201cMTM<\/strong>\u201d) and probabilistic scenarios, in light of the guidance provided by the so-called \u201cCattolica judgment<\/strong>\u201d (Cass. civ., Joint Sections, 12 May 2020, No. 8770<\/em>).<\/p>\n 18) Consumer Code: amendments to protect consumers against so-called greenwashing published in the Official Gazette<\/strong><\/p>\n On 9 March 2026, Legislative Decree No. 30 of 20 February 2026 was published in the Official Gazette, implementing Directive (EU) 2024\/825, known as the \u201cEmpowering Consumers for the Green Transition Directive<\/em>\u201d, aimed at strengthening consumer protection against unfair practices and misleading information.<\/p>\n 19) Corporate sustainability: Omnibus I package on sustainability reporting obligations (and beyond) published in the Official Journal of the EU<\/strong><\/p>\n On 26 February 2026, Directive (EU) 2026\/470 (the \u201cDirective<\/strong>\u201d) was published in the Official Journal of the European Union. The Directive amends Directive (EC) 2006\/45, Directive (EU) 2013\/34, Directive (EU) 2022\/2464 (the \u201cCSRD<\/strong>\u201d) and Directive (EU) 2024\/1760 (the \u201cCSDDD<\/strong>\u201d) with regard to corporate sustainability reporting obligations and certain corporate due diligence obligations for sustainability purposes (the so-called \u201cOmnibus I package<\/strong><\/em>\u201d).<\/p>\n","protected":false},"excerpt":{"rendered":" ADMINISTRATIVE AND ANTITRUST 1) AGCM authorises the entry of France\u2019s […]<\/p>\n","protected":false},"author":3,"featured_media":124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[71],"tags":[],"crccd-news":[],"class_list":["post-4831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crccd-news"],"acf":[],"yoast_head":"\nSTRUCTURED FINANCE\/CAPITAL MARKETS\/FINTECH<\/h2>\n
EMPLOYMENT<\/h2>\n
\nM&A<\/p>\nREAL ESTATE<\/h2>\n
BANKING\/FINANCIAL\/INSURANCE REGULATION<\/h2>\n
CASE LAW<\/h2>\n
OTHER RELEVANT NEWS<\/h2>\n