White & Case LLP (JD Supra Italy)

Wednesday, May 19, 2021, the new rules governing expanded class action lawsuits in Italy entered into force. The new class action system applies to claims related to conducts put in place starting from today.

Today, Wednesday, May 19, 2021, the new rules governing expanded class action lawsuits in Italy entered into force.  The new system applies to claims related to conducts put in place starting from today.

On 23 March 2021, the Italian Competition Authority (“ICA”) sent to the Italian government its proposals for changes to the Italian competition law for inclusion in the “annual law for competition” pursuant to Article 47 of Law 99/2009. The ICA reform proposals affect a broad variety of industries and are aimed at removing potential legal or administrative burdens to the opening of markets and

Today, the Italian Competition Authority updated its merger control turnover thresholds. Effective today, 22 March 2021, Section 16(1) of Law no. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions where both the following conditions are fulfilled...

As the season for shareholders' annual general meetings is fast approaching, we are sharing suggestions that we believe provide strategic flexibility and reflect best practices in corporate governance.

CONSOB approved regulatory changes to adapt the Italian second-level regulation to the Shareholder Rights Directive II. The key regulatory changes concern:  - Remuneration Reporting, - Related-Party Transactions, and - Engagement policies of asset managers, proxy advisors and institutional investors.

In response to the COVID-19 emergency, the screening powers of the Italian government were significantly expanded - The Italian government, which is led by the President of the Chamber of Ministries, together with any relevant ministry (such as the Defense Ministry, the Ministry of Transport and the Ministry of Communications), reviews any transaction relating to Italian companies that carry...

Artificial intelligence (AI) is increasingly transforming business processes and strategies across industry sectors. Companies are figuring out how to take advantage of AI, focusing primarily on customers' needs and experience. However, AI could also be a powerful tool to enhance internal decision-making processes and governance through advanced analytical models and robust risk-management...

On July 16, 2020, the Italian Government enacted  Law Decree No. 76/2020 introducing permanent and temporary measures aimed at simplifying rights issues and accelerating the approval of certain equity transactions.

A handful of large deals struck early in the year provided a few bright spots for Italian M&A activity in H1 2020. A cluster of larger deals in early 2020 helped to put a shine on Italy’s M&A figures for the first half of the year. Despite the huge disruption caused by the spread of COVID-19 and the subsequent lockdown, the US$16.9 billion deal value for H1 2020 was in fact 21% above the value

Over the last three months, the Italian Government has enacted a package of financial assistance designed to help Italian businesses survive the dramatic short-term effects of the coronavirus ("COVID-19") pandemic. The measures include guarantee schemes from SACE, the Italian government (in relation to CDP loans) and the Central Guarantee Fund, support for business continuity and a tailored...

Following the outbreak of COVID-19 and its development into a global pandemic, organizations have been implementing exceptional measures to safeguard employees, customers and others against the health threat that is being posed. Organizations are also endeavoring to maintain 'business-as-usual' to the extent allowed by their particular circumstances. We already discussed the resulting data...

On 8 April 2020, the Italian Government enacted Law Decree no. 23 of 2020 (the "Restore Liquidity" Decree). In combination with Law Decree no. 18 of 17 March 2020 (the "Cure Italy" Decree), it provides businesses affected by the novel coronavirus ("COVID-19") pandemic with a package of financial assistance designed to help Italian businesses survive the dramatic short term effects of COVID-19....

Yesterday, the Italian Competition Authority updated its merger control turnover thresholds. Effective today, 23 March 2020, Section 16(1) of Law no. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions where both the following conditions are fulfilled...

As the season for shareholders' annual general meetings is fast approaching, we are sharing with our clients and friends some suggestions that we believe provide strategic flexibility and reflect best practices in corporate governance. In this newsletter, we discuss the following topics: - Social responsibility and the adoption of a new Italian Corporate Governance Code; - Boards'...

Listed companies that renew their corporate bodies starting from 2020 will have to increase from 1/3rd to at least 2/5th the quota of members of the board of directors and of effective members of their board of statutory auditors, elected from the less represented gender. Moreover, by-laws may need to be amended.

Deals are generally not blocked by the Italian government. However, in connection with the clearance process, conditions may be imposed that can have a significant impact on the investment. The Italian government, which is led by the President of the Chamber of Ministries, together with any relevant ministry (such as the Defense Ministry, the Ministry of Transport, the Ministry of...

Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? Old legislation has been updated....

The Italian M&A market experienced positive growth in both domestic and cross-border transactions over recent years, with the number and value of deals steadily increasing, especially since 2017. While neither sellers nor buyers intend for M&A deals to end in dispute, the reality is transactions offer many reasons for conflicts: shareholders disagree on investments or divestments, the price needs

Setting the scene - The Italian Competition Authority ("ICA"), recently published a set of Guidelines and Policy recommendations relating to the Digital Sector ("Guidelines"), focusing on antitrust, privacy regulation and consumer protection, the development of the digital economy, and, more broadly, on big data. The publication of the Guidelines forms part of the initiatives adopted by the...

New Rules Governing Expanded Class Action Lawsuits in Italy to Take Effect on April 19, 2020 - The old thinking that class actions are only a threat in the US is history. The latest European example is Italy, where on April 3, 2019, the Italian Parliament enacted legislation amending the laws governing class action lawsuits. The new Italian class action system will go into effect on April 19, 2

The season for shareholders' annual general meetings is fast approaching, and we would like to take this opportunity to provide our clients and friends with some suggestions that we believe provide strategic flexibility and reflect best practices in corporate governance.

On January 24, 2019 the Italian Ministry of Economy and Finance ("MEF") published a press release announcing that the Italian government has readied a set of measures necessary to ensure full continuity for financial markets should the United Kingdom leave the European Union without a deal.

Deals are generally not blocked by the Italian government. However, in connection with the clearance process, conditions may be imposed that can have a significant impact on the investment - The Italian government, which is led by the President of the Chamber of Ministries, together with any relevant ministry (such as the Defense Ministry, the Ministry of Transport, the Ministry of...

Welcome to the Italy page of our Global Employee Equity at a glance series. Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where their employment is terminated.

New rules establish a legal framework for financial leasing agreements in Italy.   Before the new rules, financial leasing agreements lacked a dedicated legal regime in Italy. Instead, Italian courts applied - at times inconsistently – principles developed for other types of commercial transactions (e.g., a sale with retention of title). This resulted in uncertainty among the parties as to...

Deals are generally not blocked by the Italian Government. However, in connection with the clearance process, conditions may be imposed that can have a significant impact on the investment...

There is much to admire in the EU's handling of the Italian banking crisis, but in allowing two lenders to escape BRRD rules, it has raised questions on the consistency of the EU state aid and resolution framework.

European Leveraged Finance Alert Series: Issue 6 - Legislative changes in Italy (starting from 2012) facilitated leveraged transactions facilitating security in both bank and bond financings and aligning bond and bank finance options. These changes have catalyzed creditors’ appetite for Italian leveraged finance transactions and helped fuel a resurgence in M&A activity in Italy. Here are ten (p

Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where their employment is terminated.