The recently enacted Legislative Decree 164 of September 17 2007 has implemented in Italy the EU Directive 2004/39/EC, generally referred to as Mifid (Markets in financial instruments directive). Legislative Decree 164 has introduced several substantial amendments to the Italian Financial Act, stating that Consob, the Italian regulatory authority of the financial markets, must adopt detailed rules in relation to it. Hence, Consob has adopted the new regulations 16190 and 16191 of November 2 2007 regarding intermediaries and financial markets respectively. They have repealed the former regulations on the same subjects.
January 01 2008