Regulatory Alerts2015-12-02
Requirements for Bank and Banking Group Parent Company Executives. Verification Procedure
The Bank of Italy amends its verification procedure for bank executives to address operational difficulties identified during the Single Supervisory Mechanism implementation and to align with ECB oversight timelines. The revision extends the assessment period to 120 days, allows for the request of additional documentation, and clarifies the administrative process for declaring disqualification under Article 26 of the Banking Act. These urgent, limited procedural adjustments apply to deliberations transmitted from the fifteenth day following the measure's publication in the Official Gazette.
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