Cleary Gottlieb Steen & Hamilton LLP (LexBlog Italy)

On March 9, 2023, the Council of Ministers approved Legislative Decree No. 24 of March 10, 2023 (the “Decree”) implementing Directive (EU) 2019/1937 on whistleblowing(the “Directive”), which partially amends the draft decree that was preliminarily approved on December 9, 2022 (the “Draft Decree”). The Decree will enter into force on March 30, 2023 and apply...

On March 21, 2022, the Italian Government enacted a law-decree (“Decree”) to address the economic and humanitarian effects of the ongoing Ukraine crisis.[1] The Decree further broadens Italy’s foreign direct investments (“FDI”) regime, by  giving the Government the permanent power to review (a) acquisitions of controlling stakes by European Economic Area (“EEA”) investors (including Italian...

On December 30, 2021, the Italian Government extended until the end of 2022 Italy’s emergency foreign direct investments (“FDI”) regime, which enables it to review also acquisitions of controlling stakes by European Economic Area (“EEA”) investors, as well as certain minority investments by non-EEA investors, in any strategic sector. By contrast, under ordinary rules,  these...

On July 30, 2020, Italian Legislative Decree no. 75 went into effect, introducing amendments to the Italian Criminal Code and a new set of criminal offences in the context of corporate liability under Legislative Decree no. 231 of June 8, 2001, among which a number of tax crimes. Please click here to read the full...

Internal investigations and public enforcement actions often pose legal issues involving multiple practice areas and jurisdictions. In Italy, internal investigations may concern criminal, corporate, contract, data protection and labor law issues. In the past, internal investigations in Italy tended to be mainly “reactive,” responding to public enforcement activities. The challenge in these...

Companies operating in Italy should take note of an important change in Italian law introducing more comprehensive regulations on whistleblowing procedures in the public and non-financial private sector. Among other relevant aspects, Law No. 179/2017, which entered into force on December 29, 2017, expands existing whistleblowing protections to the private sector, requiring companies that have...