Regulatory Alerts2024-05-08
Bank of Italy Measures Implementing Article 4-sexies.1 of the TUF Regarding Crowdfunding Service Providers for Enterprises
The Bank of Italy issued implementing measures for Article 4-sexies.1 of the TUF to regulate the informational obligations of crowdfunding service providers for enterprises toward competent authorities. The document establishes specific reporting timelines for annual data, immediate notifications of authorization changes, and detailed disclosure requirements for significant shareholding acquisitions and the fitness of corporate officers. These rules supplement EU Regulation 2020/1503 and replace previous supervisory guidelines regarding the assessment of management suitability.
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