This article contains the latest updates from the Energy and Sustainability sector in Italy. Updates include; EUR 1.1billion has been allocated to the development of agrivoltaics by the Italian NRRP, the Ministry of Economic Development has signed a decree implementing an IPCEI fund, and the Bank of Italy has adopted its Responsible Investment Charter to foster ESG finance.
On 2 July 2021, the Decree of the Ministry of Economy and Finance No. 100 of 30 April 2021 (“MEF Implementing Decree”) was published on the Official Journal of the Republic of Italy (Gazzetta Ufficiale). The MEF Implementing Decree (i) regulates the tasks attributed to the newly-established FinTech Committee, its functioning and composition, and (ii) provides a comprehensive framework for the FinTech experimentation, including setting out the requirements for participating to the Sandbox, the operational perimeter during the participation, and the regime for the termination of the experimentation.
The Italy: Financial Services Regulatory Newsletter contains an updated summary of the most recent regulatory developments for Italy. It covers topics such as FinTech, corporate governance, and supervisory requirements.
On 13 July 2021, the EU Council of Ministers approved the national recovery and resilience plans (RRPs) of 12 Member States. This means that Austria, Belgium, Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain are now able to tap into the EU recovery and resilience funding. This will allow them to start spending the money on projects and reforms for national economic recovery and resilience, as well as the green transition and digital transformation.
On 30 June 2021, the Bank of Italy issued amendments to Circular No. 285 of 17 December 2013 on “Supervisory provisions for banks”. In particular, these amendments replace Part First, Title IV, Chapter 1, of Circular No. 285, on corporate governance requirements, and aim at aligning Circular No. 285 with the provisions of Directive (EU) 2019/878 of 20 May 2019.
The EU is currently allocating grants and loans to EU Member States to support economic recovery from the COVID-19 pandemic. Significant funding is available for reforms and investments focused on digital transformation and green transition. This alert focuses on some key opportunities for TMT business to secure investment taking Italy as an example.
In the context of an emergency negotiated procedure for the awarding of framework agreements for the supply of ecotomographs intended for the COVID-19 health emergency, the Council of State reiterated the obligation for the bidder to specify in its financial offer the cost of labor highlighting that the failure to comply with this requirement results in the exclusion from the tender pursuant to Sections 95, paragraph 10, and 83, paragraph 9, of the Code of Public Contracts.
With decision of 15 April 2021, published on 19 May 2021, the Italian Data Protection Authority fined a physician for having disclosed a patient’s health data through the projection of a presentation relating to a clinical case during a congress.
With a press release dated 20 May 2021, the Italian Medicine Agency (AIFA) informed that starting from 31 May 2021 the new e-Dossier Pricing and Reimbursement portal is available on its website. The purpose of the Portal is to support the submission of pricing and reimbursement applications by allowing the preparation of the relevant dossiers in digital format.
Following its publication in the Italian Official Gazette on 21 May 2021, the decree of the Ministry of Health authorizing the use of drugs for human use for the treatment of pets and certain animal diseases came into force.