New provisions regarding the assessment procedure for suitability of banks, financial intermediaries, electronic money institutions, payment institutions and deposit guarantee schemes

The Bank of Italy has pubblished Annex A – Provisions regarding the assessment procedure for suitability of banks, financial intermediaries, electronic money institutions, payment institutions and deposit guarantee schemes to update the procedure for the auditing in accordance with the methods and in the terms established by the Regulation.

The provisions will be published in the Italian Official Gazette.

Entry into force and application

The Provisions will enter into force on 1^st July 2021 and will apply to:

1. the appointments made after 1^st July 2021;
2. the appointments made after the Ministerial Decree no. 169/2020, but before the 1st July 2021.

Abrogation:

1. Title II, Chapter 2 of the Circular no. 229/1999 and the Provision “Requirements of banks and holding company of banking groups. Verification procedure” – 1^st December 2015;
2. Title II, Chapter 2 of the Circular no. 288/2015, except Annex A, C and D, and the “interlocking” in Section 1, paragraph 4;
3. Chapter 3, Section IV, except the prohibition of “interlocking” and Section V.

Read or download here:

Provision of Bank of Italy, 4th May 2021

Annex A – Decree  no. 169 of Ministry of Economy and Finance, 23th November 2020

 Provisions regarding the assessment procedure for suitability of banks, financial intermediaries, electronic money institutions, payment institutions and deposit guarantee schemes