Regulatory Alerts2011-07-27
Urgent Decree of the Minister of Economy and Finance, President of the CICR, of 27 July 2011, No. 675
The Italian Minister of Economy and Finance, acting as President of the Interministerial Committee for Credit and Savings, issued an urgent decree establishing the regulatory framework for the acquisition and variation of qualifying holdings in supervised financial entities. The decree mandates prior authorization from the Bank of Italy for acquisitions reaching or exceeding specific voting rights thresholds, including 10%, 20%, 30%, and 50%, as well as any acquisition resulting in control or significant influence. It further defines the prudential criteria for evaluating potential acquirers, such as reputation and financial solidity, while introducing principles of proportionality and administrative simplification for intra-group transfers.