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IT - Bank of Italy amends new post-issuance reporting obligations

01/01/2017

On 10 August 2016, the Bank of Italy partially amended the Italian article 129 on reporting obligations regarding the issuance, offering and placement of financial which were adopted on August 25, 2015 and entered into force on October 1, 2016 with certain obligations, however, being effective as of January 2017.

On 10 August  2016, the Bank of Italy partially amended the Italian article 129  on reporting obligations regarding the issuance, offering and placement of financial which were adopted on August 25, 2015 and entered into force on October 1, 2016  with certain obligations, however, being effective as of January 2017. The following changes which simplify the regime originally in place apply to "entities placing financial instruments issued by non-resident entities" only .The new regime requires these  entities that issue, offer or place certain financial instruments in Italy to file information regarding the issuer and the financial instruments with the Bank of Italy for statistical purposes, regardless of whether a prospectus is required under the Prospectus Directive2 or whether the transaction is structured as a private placement or an offer to the public.

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