Introduction On January 31, 2020, by virtue of a specific withdrawal agreement, the United Kingdom formally left the European Union ("EU"). The European institutions and the United Kingdom, aware of the need to define the terms of the withdrawal in many areas, have agreed on the so-called transition period (ended December 31, 2020). In that period, the United Kingdom continued to apply, like any other EU Member State, European legislation, including civil and commercial law, but at the same time began to outline a consistent domestic regulatory framework initially , in the internal alignment of

  INTRODUCTION On 16 December 2020, the European Commission published a Communication aimed at defining the guidelines (an Action Plan) of a strategy aimed at “Coping with impaired loans in the aftermath of the COVID-19 pandemic” [1]. The aforementioned action plan is part of the wider project aimed at remedying the increase in non-performing loans. In this regard, the following take on specific relevance: Regulation (EU) 2019/630 of the European Parliament and of the Council, of 17 April 2019, which amended Regulation (EU) no. 575/2013 (CRR) on the subject of minimum coverage of losses on impaired exposures (so-called Prudential Backstop); the proposal

The law of 30 December 2020, n. 178 (the “2021 Budget Law”) introduced, in article 1, paragraphs 214 and 215, some substantial changes to the Law of 30 April 1999, no. 130 on the securitization of receivables (the “Law 130”). In fact, these are interventions of a technical nature which, by extending the scope and interpreting some of the provisions contained in Law 130, have a significant impact on the securitization market. Below is a brief analysis of the new provisions: Securitisations with the granting of loans and without the issue of securities Paragraph 214 of art. 1 of the 2021 Budget Law amendment

by Diego Rossano, Professor of Economic Law at the University of Naples "Parthenope" and Head of Center European Law and Finance - Orrick It was published in the Official Gazette no. 310 of December 15, the Decree of November 23, 2020, n. 169 containing regulatory provisions on the requirements and eligibility criteria for the performance of the office of corporate officers of banks, financial intermediaries, trust companies, electronic money institutions, payment institutions and depositor guarantee systems. This provision will enter into force on 30 December 2020 and the provisions contained therein will apply to

Update of Circular no. 285 of 17 December 2013 "Supervisory Provision for banks". Introduction The Bank of Italy, with the recent publication of the 34th update of Circular no. 285 of December 17, 2013 "Supervisory Provisions for banks" (hereinafter, "Circular 285"), implemented the EBA (Guidelines on outsourcing, EBA / GL / 2019/02) on outsourcing issued on 25 February 2019 ([1]) (hereinafter, the "EBA Guidelines"). With this update, the Authority intervened by introducing new measures applicable to credit institutions which, in order to streamline their internal processes and improve their organizational structure, evaluate the outsourcing of

The orders of the Court of Naples of 5 August 2020 and of the Court of Caltanissetta of 8 July 2020 offer significant insights into certain problematic aspects of the recent emergency legislation which, as is known, was adopted to remedy the damage caused , on the economic and social level, by the restrictive measures imposed by the government to limit the spread of the coronavirus. Specifically, it is necessary to have regard to the provisions of art. 13, lett. m), of Legislative Decree 23, of 8 April 2020 (the so-called “Liquidity” Decree), converted with Law no. 40 of 5 June 2020, which, with reference to

1. Intro It is known that the Covid-19 pandemic has not only had a devastating impact on the social and health level, having determined an economic crisis for which it is not yet possible to establish with certainty the harmful effects. It is a fact, also increasingly evident, that with the passing of the months the economic situation of Europe, and of our country, has been worsening; hence, the adoption of specific economic measures aimed at ensuring an adequate restart of production activities. In the context outlined, the new Regulation (EU) 2020/873 ("Regulation 873") (1), approved by the European Parliament (2), assumes specific relevance,

The Law of 17 July 2020, n. 77, converting the decree-law of 19 May 2020 n. 34 (so-called “Relaunch Decree”), introduced paragraph 4-bis (“Paragraph 4-bis”) to article 117 of the same decree, regarding the transfer of health claims. Specifically, this provision provides that: “Certain, liquid and collectible trade receivables claimed from the bodies of the National Health Service as a result of contractual agreements stipulated pursuant to article 8-quinquies of the legislative decree 30 December 1992, n. 502, if not certified through the electronic platform referred to in article 7 of the decree-law of 8 April 2013, n. 35, converted, with modifications, by

As is known, Decree no. 23 of 8 April 2020 (so-called “Liquidity” Decree) repealed art. 49 of the Decree n. 18 of 17 March 2020, n. 27 (so-called “Cura Italia” Decree) as converted into law of 24 April 2020, n. 27 (published in the Official Gazette no. 110 of 29 April 2020 “Cura Italia”). This provision was therefore replaced by art. 13 of the "Liquidity" Decree which provides for specific support measures offered to SMEs by the Central SME Guarantee Fund (Article 2, paragraph 100, letter a) of Law 662/1996), extending them until 31 December 2020 From another point of view,

  The Decree-Law, n. 34, of May 19, 2020, (“Relaunch Decree“), was converted into law no. 77 of 17 July 2020. It therefore completes, together with the so-called “Cura Italia” Decree-Law (converted into law no. 27, on 24 April 2020) and the so-called “Liquidity” Decree-Law no. 23, of 8 April 2020, the reference regulatory framework on the subject in order to ensure the relaunch of the national economy put to the test by the health emergency. Below is a summary of the main regulatory provisions containing specific support measures for businesses and the economy. Non-repayable grant Article 25 recognizes a grant