Italy

Working Paper

03 August 2017

Market Soundings: The Interaction between Securities Regulation and Company Law in the United Kingdom and Italy

Before deciding on operations involving share issuance or sale, companies or shareholders may seek to disclose information to selected investors, in order to gauge their opinion on the envisaged market operation. Such ‘market...

Stefano Lombardo | Federico M. Mucciarelli
08 June 2018

Enforcing Rules on Related Party Transactions in Italy: One Securities Regulator’s Challenge

In the wake of the corporate scandals of the early 2000s, Italian policymakers tackled tunnelling via related party transactions (RPTs) by enacting a three-layer regime: a statute setting the goals of a regulation (transparency, and...

Marcello Bianchi | Luca Enriques | Mateja Milič
05 August 2019

Bolstering Family Control: Evidence from Loyalty Shares

We study the introduction of a new control-enhancing mechanism in Italy, a country characterized by family-controlled firms and growing shareholders’ protection by institutional investors. Since 2014, Italian firms have been...

Emanuele Bajo | Massimiliano Barbi | Marco Bigelli | Ettore Croci
05 May 2020

Some Reflections on the Self-insider and the Market Abuse Regulation – The Self-insider as a Monopoly-Square Insider

This article deals with the self-insider, i.e. the possible creation of the inside information by a person and its (abusive) exploitation. It describes the situation in Italy and Germany and then provides a taxonomy of the several cases...

Stefano Lombardo

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