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ESMA - Publication of SI data for non-equity instruments other than bonds

ESMA will not publish the 1 August 2022 publication of the systematic internaliser (SI) regime data for non-equity instruments other than bonds, as well as that of the consolidated tape (CTP) data. This is due to operational constraints which prevent it from performing the scheduled calculations. ESMA, upon request of market participants, has been computing, on a voluntary and best effort basis, the total volume and number of transactions executed in the EU in order to help market participants meet their obligations since that data is not otherwise easily available. Systematic Internaliser Regime The non-publication of the data means the mandatory SI regime will not apply from 15 August to 14 November 2022, and investment firms will not need to perform the SI-test for non-equity instruments other than bonds. However, investment firms can continue to opt into the SI-regime in the interim period. The SI-calculations for non-equity instruments other than bonds will resume on 1 November 2022, based on an observation period from 1 April 2022 to 30 September 2022. Investment firms will then be required to perform the SI determination by 15 November 2022. The publication of the SI-data for equity, equity-like instruments and bonds will not be affected, and will be made available by 1 August, as planned. Therefore, investment firms are required to perform the SI test for those asset classes and comply with the related obligations by 15 August 2022. Consolidated Tape The CTP calculations will resume at the next regular publication date on 1 February 2023 based on an observation period from 1 July 2022 to 31 December 2022. ESMA reminds reporting entities of their obligations to continue reporting transparency data also in the absence of the August publication for non-equity instruments other than bonds, in order to ensure that the transparency data covers trading activity necessary for subsequent transparency calculations.    

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Regolamento delegato (UE) 2022/1011 della Commissione del 10 marzo 2022

Il Regolamento delegato (UE) 2022/1011 della Commissione integra il regolamento (UE) n. 575/2013 del Parlamento europeo e del Consiglio per quanto riguarda le norme tecniche di regolamentazione che specificano le modalità di determinazione delle esposizioni indirette verso un cliente derivanti da contratti derivati e contratti derivati su crediti, laddove il contratto non sia stato stipulato direttamente con il cliente ma lo strumento di debito o di capitale sottostante sia stato emesso da tale cliente

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ESAs - EU Commission statement on the application date of new PRIIPs rules

The European Supervisory Authorities (ESAs) would like to draw the attention of stakeholders to a Statement by the European Commission concerning the application date of new rules for the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs). The Statement of the European Commission confirms that it is intended: for the rules for the KID in Delegated Regulation 2017/653 to continue to apply until 31 December 2022, including the ability to use the Key Investor Information Document (KIID) to provide specific information about UCITS offered as underlying investment options, and for the new rules included in Delegated Regulation 2021/2268 to amend Delegated Regulation 2017/653 to apply from 1 January 2023.

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Agenzia delle Entrate. Risposta n. 338 del 23.06.2022: regime fiscale dividendi di fonte italiana conseguiti da soggetto estero che possiede i requisiti di un fondo pensione

Con risposta a interpello n. 338 del 23 giugno 2022, l'Agenzia delle Entrate ha chiarito che laddove il soggetto estero, percettore di dividendi di fonte italiana, presenti i requisiti sostanziali e le finalità di investimento proprie di un fondo previdenziale integrativo e non svolge attività commerciale oltre a quella istituzionale di previdenza, non potrà beneficiare dell'applicazione dell'aliquota del 1.20 per cento, ma è assoggettato a ritenuta dell'11 per cento

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Consob - Relazione per l'anno 2021

La Relazione è organizzata in 3 parti: la Parte A, \u2018Le linee strategiche della CONSOB', descrive le linee programmatiche per il triennio 2022-2024 (innovazione e sostenibilità, fiducia e tutela del risparmio e la direttrice relativa a digitalizzazione e assessment dell'Istituto); la Parte B, \u2018L'attività della CONSOB', illustra le attività più rilevanti dello scorso anno con riguardo a tutte le aree di interesse istituzionale; la Parte C contiene l'\u2018Appendice statistica'

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FAFT GAFI - Outcomes from the FATF June 2022 Plenary

At the last Plenary (14-17 June 2022) FATF expressed its deepest sympathies for the people of Ukraine and continues to deplore the huge loss of life caused by the ongoing Russian invasion of Ukraine. As a result of the invasion, FATF agreed to severely limit the Russian Federation's role and influence within the FATF. FAFT conducted mutual evaluation of Germany and Netherlands. The FATF will publish the reports by September, after a quality and consistency review. The FATF congratulated Malta for the significant progress it has made in addressing the strategic AML/CFT deficiencies previously identified by the FATF and included in its action plan. Malta will no longer be subject to the FATF's increased monitoring process. New jurisdiction subject to increased monitoring is Gibraltar. Between the end of June and late July FAF will publish reports on (i)Information Sharing and Data Protection; (ii) Risk-based Approach Guidance for the Real Estate; (iii) Updating on Implementation of the FATF Standards on Virtual Assets/VASPs  

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