Valerio Sangiovanni. “I contratti derivati e il regolamento Consob n. del ” Giurisprudenza di merito () Available at. /) defined in detail the single elements of portfolio management service (for was expressly defined in the Consob Regulation on Intermediaries no. of 1 July , as amended. lett. b) of the UFA and Article 33, paragraph 1, of the CONSOB Regulation, a safe-harbor exemption is applicable also in.

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“I contratti derivati e il regolamento Consob n. del ” by Valerio Sangiovanni

These companies provide the customer a digital platform that, thanks to the Internet, allows you to view, buy and sell financial instruments in a short time. Both cases relate to derivative consog entered into by two private companies the claimants. The intermediary must still acquire technical and operational procedures that allow them to acquire and retain appropriate certificate of “delivery” of the document. Turn off more accessible mode. The stipulation via Internet is allowed only in case of use of digital signatures for as established by law.

For more information please contact Amy Edwards amy. In case of receiving provisions for a inadequate operation, a duty to report to the customer the inadequacy applies even when the service is provided online paragraph 3 of article. User name Password Remember me Cnsob your 115522


Qualified entities to trading: The spread of conskb Internet also promoted the role of alternative connsob platforms, like Alternative Trading Systems ATS or Electronic Communication Networks ECNused by institutional and professional investors and generally can not be used by individual investors.


Skip to main content. By continuing conslb use this site without changing your settings you consent to our use of cookies in accordance with our cookie policy. Similarly, via the Internet, the customer can possibly agree to the operation despite the existence of a conflict of interestif the technical operational procedure of the intermediary is structured in a way that requires at the investor a demonstration of effective and informed consent.

Africa Morocco South Africa. See also Online Coonsob definition. We use cookies on our website. Twitter Facebook Linked In Email this page. For this reason, the service provider often use, as permitted by law, the faculty of indirect identification thanks to the conaob appropriate certification by other intermediary, usually a bank, to heed the funds transfer. Therefore, the contract agreement will be via the Internet only if it is effectively realizable the digital signature as provided by the d.

In born the first trading platforms in Italy, following the rapid expansion of the phenomenon, thanks to the gradual spread of the Internet, the Consob in establish it and regulate it with Consob Regulation no.

Our lawyers were ranked in Band 1 and 2 in categories across all Legal Directories, the highest of the global elite group of international law firms. Features and Regulation The online trading has developed in the Italian market in the nineties and has mainly success to the speed of orders transmission, to the almost total elimination of the error risk in their transposition and especially to the containment of trading commissions. North America United Cosob. Email this page Close Leave this field blank.

To learn more about cookies, how we use them on our site and how to change your cookie settings please view our cookie policy. B of the Cosnob. Authorized intermediaries to negotiation of trade online are listed by ‘art.


The feature of this service is in the remote operation, allowing the investor to give orders to the intermediary through cnsob connection with the web site. This rule requires the intermediary to assess the adequacy of the operation compared to the profile of the investor, preparing and activating specific procedures, to consider operation characteristics in relation to the customer profile.

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The European Finance Litigation Review is a quarterly publication on recent developments in the finance litigation and regulatory sector in key European jurisdictions. About us Corporate responsibility Alumni Contact us Online services.

Italy: Issuer/Distributor liability to qualified investors

Cookies on our website We use cookies on our website. Article 26 refers to the general principles and rules set out in the Italian Financial Services Act. In any case it is necessary that the intermediary predisposes appropriate procedures and resources to deal with any “falls” even temporary of the automated system, with tools to enable customers to continue the operation.

Information on the nature and risks of the operations, and the significant losses: Within the overall framework of the regulation applicable to online trading, we can identify some key areas that regulate the start-up phase of the relationship with the investor: