Regulatory Alerts2007-10-24
Regulation of the Bank of Italy on Prudential Supervision for SIMs
The Bank of Italy issued this regulation to implement EU Directive 2010/76/CE by amending the prudential supervision rules for Securities Investment Management Companies (SIMs). The amendments introduce specific capital requirements and definitions for correlation trading portfolios and securitization positions, while updating risk-specific capital charges and valuation methodologies for illiquid positions. Additionally, the document strengthens the Internal Capital Adequacy Assessment Process (ICAAP) reporting timelines and mandates enhanced public disclosure regarding securitization activities and risk profiles.
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