Bank of Italy has published the second update to the Regulation about the collective asset management

In according to the measure of 16^th February 2021, Bank of Italy has published the second update to the Regulation about the collective asset management of 19^th January 2015.

The reasons of updating are:

• the need to standardize the collective asset management to the ESMA Guidelines about the liquidity stress testing in the Undertakings Collective Investment in Transferable Securities (UCITS) and in the FIA (ESMA 34-39-897) of 16^th July 2020;
• the necessity to update the Regulation to simplify and to adapt its to market developments.

The new provisions take effect on the day following that of publication in in the Italian Official Gazette.

The public consultation amendments to Regulation referring the collective asset management is started on 30^th July 2020 and it is closed on 28^th September 2020, with the support of:

• AIFI – Italian association of Private Equity Venture Capital Private Debt
• ANASF – National Association financial advisers
• ASSOGESTIONI – Association of asset management
• CBA – Law firm
• GIM Legal

Read or download here:

Summary report of the consultation

Second update – 16^th February 2021

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