Second update of the Criteria for the application of Article 36 of the "Save Italy" Decree-Law (so-called "interlocking ban")

Category

Undertakings

Description

Today, IVASS, the Bank of Italy and CONSOB, in agreement with AGCM, are publishing on their respective websites a notice updating the Criteria, issued in 2012 and updated in 2018, for the application of the prohibition to hold positions in competing intermediaries in the financial sector (so-called "interlocking ban"; Article 36, Decree Law No. 201/2011).

The update concerns the method of calculating the turnover relevant for the application of the size threshold for the intermediaries involved and takes into account the amendments made to the Competition Law.

issue date

16 February 2024