Regulatory Alerts2015-01-19
Joint Regulation of the Bank of Italy and Consob on the Organization and Procedures of Intermediaries Providing Investment Services or Collective Investment Management
The Bank of Italy and Consob issued a joint regulation establishing the organizational and procedural requirements for intermediaries providing investment services or managing collective savings. The document mandates strict internal controls, compliance functions, and adherence to ESMA guidelines regarding remuneration policies and automated trading systems. It has been subject to multiple amendments since its initial publication in 2007 to align with evolving European regulatory standards.
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