Le asimmetrie regolamentari nell’industria dei fondi comuni aperti

Author/s Beatrice Ronchini
Publishing Year 2011 Issue 2010/3 Language Italian
Pages 22 P. 423-444 File size 523 KB
DOI 10.3280/ED2010-003003
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The goal of leveling the playing field in Eu mutual fund industry does not seem fully achieved yet. In fact, many Member States present some remaining differences - in national rules, in regulatory and supervisory arrangements, in sectoral regulation - that may hinder operators and products facing tighter regulation. This paper explores regulatory issues for the Italian asset management sector and contributes to the existing literature by reviewing the major rules and supervisory practices which could affect the dynamics and competitiveness of the Italian open end mutual funds compared to non-Italian Ucits sold in Italy and other "competing" financial products. The lack of regulatory harmonization has been singled out by some commentators as a contributing factor to the difficulties surrounding Italian asset manager in the recent past. The illustration of the differences in regulatory treatment across national asset management industries and across the spectrum of "substitute" financial products is the necessary prerequisite to foreshadow a possible optimization path in regulation.

Beatrice Ronchini, Le asimmetrie regolamentari nell’industria dei fondi comuni aperti in "ECONOMIA E DIRITTO DEL TERZIARIO " 3/2010, pp 423-444, DOI: 10.3280/ED2010-003003