I&W Insurance Policies and IVASS Regulation No. 29/2009
Following a series of requests for clarification submitted by market operators, on July 25th, 2019, the Italian Insurance Supervisory Authority (IVASS) issued a statement aimed at defining the relationship between Sec. 4, Par. 2 of the IVASS Regulation No. 29/2009 and Indemnities & Warranties Insurance Policies ("I&W Insurance Policies").
Anti-Dilution Clauses – Recent Opinion of the Notarial District Council of Milan
By Position Paper No. 186 dated Dec. 3, 2019, the Notarial District Council of Milan confirmed the validity of such anti-dilution clauses embodied in Articles of Association to provide for the gratuitous allocation of a certain number of newly issued shares to one or more identified shareholders for the case of future capital increases with a subscription price-per-share below a predetermined threshold.
New thresholds and requirements for the mandatory appointment of supervisory bodies or auditors in Italian limited liability companies
On June 17, 2019, the Italian Parliament passed Law No. 55/2019 (“Law”), thus amending and supplementing – in addition to those amendments provided for by the previous Legislative Decree No. 14/2019 – the audit and control statutory framework applicable to Italian limited liability companies.