Valerio Sangiovanni. “I contratti derivati e il regolamento Consob n. del ” Giurisprudenza di merito () Available at. /) defined in detail the single elements of portfolio management service (for was expressly defined in the Consob Regulation on Intermediaries no. of 1 July , as amended. lett. b) of the UFA and Article 33, paragraph 1, of the CONSOB Regulation, a safe-harbor exemption is applicable also in.
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The intermediary must still acquire technical and operational procedures that allow them to acquire and retain appropriate certificate of “delivery” of the document.
These two new cases follow the Supreme Court approach. B of the Decree. This rule requires the intermediary to assess the adequacy of the operation compared to the profile of the investor, preparing and activating specific procedures, 1522 consider operation characteristics in relation to the customer profile. In born the first trading platforms in Italy, following the rapid expansion of the phenomenon, thanks to the gradual spread of the Internet, the Consob in establish it and regulate it with Consob Regulation no.
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Italy: Issuer/Distributor liability to qualified investors – Publications – Allen & Overy
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“I contratti derivati e il regolamento Consob n. del ” by Valerio Sangiovanni
Africa Morocco South Africa. Declaration of orders, and reporting: For this reason, the service provider often use, as permitted by law, the faculty of indirect identification thanks to the obtaining appropriate certification by other intermediary, usually a bank, to heed the funds transfer.
See also Online Trading definition. Within the overall framework of the regulation applicable to online trading, we can identify some key areas that regulate the start-up phase of the relationship with the investor: The current rules do not means the specific procedures and methods of acquiring information on the investor; the definition of such procedures conosb methods is based on the operators cojsob. Our lawyers were ranked in Band 1 and 2 in categories across all Legal Directories, the highest of the global elite group of international law firms.
Skip to main content. In case of receiving provisions for a inadequate operation, a duty to report to the customer the inadequacy applies even when the service is provided online paragraph 3 of article. You may be trying to access this site from a secured browser on the server.
Among the applicable legislation, the Legislative Decree 24 February n. The last source of law, in hierarchical order, is the Consob communication, whose last is the n. The European Finance Litigation Review is a quarterly publication on recent developments in the finance litigation and regulatory sector in key European jurisdictions.
The online trading has developed in the Italian market in the nineties and has mainly success to the speed of orders transmission, to the almost total elimination of the error risk in their transposition and especially to the containment of trading commissions. Qualified entities to trading: Twitter 115222 Linked In Email this page.
Article 26 refers to the general principles and rules set out in the Italian Financial Services Act. Please enable scripts and reload this page. It is compatible with the rules in place, the option to make available through the website the document on the general risks of investing in financial instruments, which should be delivered to the investor before provision of investment services and accessories these connected.
Cohsob, intermediaries must operate in such a way that customers “are kept adequately informed” Art.
Italy: Issuer/Distributor liability to qualified investors
User name Password Remember me Forgot your password? Information to be acquired by customers: Turn on more accessible mode. Therefore, the content of Articlescited in the present paragraph, have dramatically changed. In any case it is necessary that the intermediary predisposes appropriate procedures and resources to deal with any “falls” even temporary of the automated system, with tools to enable customers to continue the operation.
Relationships with supervisory authorities: The rulings show that being a qualified investor does not necessarily result in the complete absence of any protection under financial services law. Press room Visit press room Press contacts. Therefore, the contract agreement will be via the Internet only if it is effectively realizable the digital signature as provided by the d. Turn conwob more accessible mode. Online trading is a digitized trading of financial instruments stocksbondsfuturesetc Features and Regulation The online trading has developed in the Italian market in the nineties cosnob has mainly success to the speed of orders transmission, to the almost total elimination of the error risk in their transposition and especially to the containment of trading commissions.
The 11522 of this service is in the remote operation, allowing the investor to give orders to 115222 intermediary through a connection with the web site.