ARTICLE
1 November 2016

New Italian Banking Rules Impose Post-Trade Reporting Requirements On Bond Offerings

AO
A&O Shearman

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A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
The new rules entered into force on 1 October 2016, with a phase-in period applicable to banks.
Italy Corporate/Commercial Law

The Bank of Italy introduced in 2015, and then amended on 10 August 2016, new reporting requirements in connection with the placement or offering of certain securities (including debt securities, such as high yield or plain vanilla bonds) in Italy, in furtherance of Article 129 of Legislative Decree No. 385 dated 1 September 1993 (the Italian Banking Act). The new rules entered into force on 1 October 2016, with a phase-in period applicable to banks.

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