Regulatory Alerts2017-04-20
Circular No. 288/2015 Supervisory Provisions for Financial Intermediaries - Reconfiguration of Administrative Proceedings
The Bank of Italy has reconfigured certain administrative proceedings for financial intermediaries by replacing prior authorization requirements with a notification system requiring at least 30 days' advance notice. This procedural simplification aims to enhance intermediary autonomy and align with the principle of proportionality while maintaining supervisory oversight through potential prohibition measures. The modification integrates into Circular No. 288/2015 and applies to specific capital, operational, and market risk calculations as detailed in the attached annex.
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