JD Supra Italy

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Latest documents

• Statutory penalty interest at 8%: the latest relevant jurisprudential trends in Italy

  In the specific case submitted for its consideration, the Court of Florence established the following question of law: "whether a judge, who is asked generically to order the defendant to pay interest, without any other specification or reference to art. 1284 fourth paragraph, of the Civil Code, is allowed to calculate the interest according to the said provision, or if the decision is, in hypothesis, vitiated for extra/ultra petita under art. 112 of the Italian code of Civil Procedure".

• Legge di Bilancio 2021: ulteriore proroga per la rideterminazione dei valori di terreni e partecipazioni

  Con la legge di Bilancio 2021, il legislatore ha prorogato anche per il 2021 la possibilità di rideterminare il valore di acquisto dei terreni e delle partecipazioni non negoziate nei mercati regolamentati. Si tratta della quarta proroga dei termini di applicazione di questa agevolazione nell’arco degli ultimi 12 mesi.

• The New Exclusive European Licensee of Cenobamate: Angelini Pharma Acquires Emerging Swiss Biotech Company Arvelle Therapeutics

  The Italian pharmaceutical company Angelini Pharma announced on January 4, 2021, that it will acquire emerging Swiss biotech company Arvelle Therapeutics for a total aggregate valuation of up to $960 million. Angelini Pharma will pay Arvelle Therapeutics $610 million following the European Medicines Agency’s (“EMA”) approval of the epilepsy drug cenobamate, sold under the brand name Xcopri®. Arvelle will also receive another $350 million if cenobamate reaches certain revenue targets.

• Italian measures for UK banking, financial intermediaries and electronic money institutions after Brexit

  Article 22 of the Italian Law Decree no. 183 of 31 December 2020 (in Italian "Decreto Milleproroghe") provides for the measures applicable as from the end of the Brexit transition period (i.e. December 31, 2020, “Withdrawal Date”) to UK banking, financial intermediaries and insurance undertakings (“Italian Brexit Measures”).

• Brexit: Italian measures for UK insurers after the end of the transition period

  On 31 December 2020, Law Decree No. 183 of 31 December 2020 introducing, among others, specific provisions addressed to UK insurance undertakings in relation to their business and obligations following the end of the transition period granted after the formal withdrawal of the UK from the European Union...

• Italian Government repeals money transfer tax

  The Italian Government repealed the tax, introduced in 2018, on money remittances outside EU executed through payment institutions.

• Italian foreign direct investment screening law update: Two new regulations identifying assets of strategic importance have been published in the Italian Official Journal (in Italian)

  Prime Ministerial Decree 179 and 180 were published in the Official Gazette of December 30, 2020, identifying the assets and relationships deemed to be of strategic importance for the purposes of the obligation to communicate transactions pursuant to the Golden Power regulations.

• Decreto Milleproroghe: extension of simplified remote working (in Italian)

  It was published in the Official Gazette no. 323 of 31 December 2020 the so-called " Milleproroghe Decree " (Decree-Law 31 December 2020, n. 183), containing "Urgent provisions regarding legislative deadlines, creation of digital connections, execution of the decision (EU, EURATOM) 2020 / 2053 of the Council of 14 December 2020, as well as on the withdrawal of the United Kingdom from the European Union.

• Italian foreign direct investment screening law update: Two new regulations identifying assets of strategic importance have been published in the Italian Official Journal

  On December 30, 2020, Italian Governmental Decrees No. 179 and No. 180 were published in the Italian Official Journal. The Decrees identify the assets and relationships deemed to be of strategic importance, for the purposes of the filing obligation pursuant to the Golden Power regulations.

• Budget Law 2021: the financial measures approved in extremis by the Senate are published in the Official Journal (in Italian)

  After the favorable vote of the Chamber and the approval arrived in extremis by the Senate, the Law of 30 December 2020, n. 178 containing State budget for the financial year 2021 and multi-year budget for the three-year period 2021-2023. Upon completion of the parliamentary procedure, the maneuver confirms the main measures already contained in the Bill presented by the Council of Ministers on November 16, 2020.

Featured documents

• La Proposta Di Revisione Della Direttiva Mifid

  Il corpus normativo che regola i mercati finanziari all’interno dell’Unione Europea, meglio conosciuto come “MiFID”, è attualmente composto dalla direttiva 2004/39/CE (la Market in Financial Instruments Directive; di seguito, la “Direttiva MiFID”), dalla direttiva di secondo livello 2006/73/CE, e...

• Le Nuove Modifiche Alla Disciplina Della Crisi Di Impresa

  Lo scorso 15 giugno il Governo ha approvato il decreto legge finalizzato ad alimentare la crescita economica del Paese, il cosiddetto Decreto Sviluppo1. Il Decreto Sviluppo include, tra l’altro, alcune importanti modifiche alla legge fallimentare (R.D. 16 marzo 1942 n. 267; di seguito la “Legge...

• Novità in materia di comunicazioni antitrust e di finanziamento dell’Autorità garante

  Il decreto legge “Crescitalia” n. 1/2012, come modificato dalla legge di conversione n. 27/2012, ha operato una radicale riforma del sistema di finanziamento dell’Autorità garante della concorrenza e del mercato.

 

 In base alla nuova normativa, l’onere per il funzionamento dell’Au...

• Doing Business In Italy - Step Up Your FCPA Compliance Now

  Former Italian Prime Minister Silvio Berlusconi is no stranger to scandal and controversial statements, but lately his words and actions seem to be providing cause for concern outside of the European Union....

• Anti-Money Laundering: Italian Competent Authorities Issue Clarification on the Duty of Restitution of Money/Securities to Customers for Whom the Due Diligence Cannot be Carried Out

  New paragraph 1-bis of article 23 of Legislative Decree 21 November 2007, no. 231 (the Italian anti-money laundering law), introduced by article 18 of Legislative Decree 19 September 2012, no. 169, provides that, in the event the addressees of anti-money laundering law are unable to comply with the ...

• AGCOM And The Administrative Enforcement Of IP Rights

  The Issues Concerning the Legitimacy of the Regulations -
 
 
 
 At the end of a process started in 2010, after three public consultations on an equal number of proposals, on December 12, 2012 AGCOM (i.e. the Italian Communications Authority), adopted regulations that established...

• Battuta D'arresto Per La Voluntary Disclosure

  Come annunciato, l'articolo 1 del decreto legge 28 gennaio 2014, n. 4 (pubblicato in G.U. n. 23 del 29 gennaio 2014 – di seguito "Decreto") in materia di "Voluntary Disclosure" o "Collaborazione Volontaria" per il rientro dei capitali esteri non dichiarati non è stato...

• Important changes to Italian mandatory tender offer Rules

  The Decreto Competitività (as converted into Law with amendments, the “Decree”), published on August 20, 2014, in the Italian Official Gazette (Gazzetta Ufficiale della Repubblica Italiana), has made some important changes to the Italian mandatory tender offer rules.
 
 
 
 The key...

• Italy withdraws from the Energy Charter Treaty

  Italy is reported to have given formal notice to withdraw from the Energy Charter Treaty (ECT).
 
 
 
 Rumours of Italy’s intention to leave the ECT had been circulating since last autumn. IAReporter now revealed that Italy has delivered its official notice of withdrawal in January...

• Italian Tax Reform

  The Italian Government has recently approved a new decree, which reshapes the definition of abuse of law and tax avoidance and changes the rules on the statute of limitations in the event of tax crimes. The decree also introduces a cooperative compliance program to enhance relationships between...