Regulatory Alerts1992-06-25
Added · Updated
Supervisory Instructions for Securities Market Intermediaries - Circular No. 164 of June 25, 1992
The document establishes the supervisory framework for securities market intermediaries (SIMs) and extracommitary investment firms, defining their scope, capital requirements, and organizational obligations. It mandates SIMs to notify the Bank of Italy of any changes in shareholding structures, establish internal controls and risk management procedures, and adhere to specific prudential and consolidated supervision rules. The text further regulates the opening of branches abroad, the management of pension fund assets, and the deposit of client financial instruments, while specifying detailed reporting and statistical notification requirements.
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