Financial Compliance

AGCM Investigates Procter & Gamble for Misleading Braun Ads

The Italian Competition Authority (AGCM) has launched an investigation into Procter & Gamble S.r.l. concerning misleading advertising for the Braun Skin i-Expert hair removal device. The authority is concerned that claims of being 'hair-free for two years' may overstate the product's effectiveness and lack sufficient evidence.

Eurocoin Indicator Increased to 0.54 in February

The Bank of Italy announced that the Eurocoin indicator, a summary index of the euro area's current economic situation, slightly increased to 0.54 in February 2026 from 0.49 in January. The indicator is boosted by manufacturing confidence and demand indicators.

Banca d'Italia Identifies O-SIIs and Sets Capital Buffer Requirements

Banca d'Italia has identified additional Other Systemically Important Institutions (O-SIIs) and set new capital buffer requirements. BPER Banca and Monte dei Paschi di Siena will be subject to a 0.50% buffer starting April 1, 2026, in addition to previously identified institutions.

ECB Banking Data: Assets and Non-Performing Loans Ratio Increase

The European Central Bank (ECB) has published consolidated banking data for the end of September 2025. The data shows a 0.95% increase in total assets to €33.44 trillion and a 0.01 percentage point increase in the non-performing loans ratio to 1.97%.

Eurocoin Indicator Shows Slight Fall in January

Banca d'Italia announced that the Eurocoin indicator, a measure of euro area economic activity, slightly decreased to 0.49 in January 2026 from 0.52 in December 2025. This indicates a continued, albeit softened, phase of cyclical expansion within the euro area.

Italy Reciprocates Austrian Macroprudential Measure

The Bank of Italy has decided to reciprocate Austria's macroprudential measure, a 1% sectoral systemic risk buffer on exposures to construction and real estate sectors. This measure, effective April 1, 2026, applies to Italian banks and banking groups, with an exemption for institutions with exposures below €100 million.

Consob Blocks 11 Websites for Financial Abuse

The Italian financial regulator, Consob, has ordered the blocking of 11 new websites engaged in financial abuse and unauthorized investment services. This action brings the total number of blocked sites to 1,599 since July 2019, with 136 related to crypto-activities.

Chiara Mosca Appointed Interim Consob President

Chiara Mosca has been appointed interim President of Consob, the Italian securities regulator, effective March 9, 2026. She assumes the role following the conclusion of Paolo Savona's seven-year mandate. Mosca, a Commissioner since 2021, will serve until a new President is appointed.

BaFin Reduces Systemic Risk Buffer for Residential Real Estate Financing

The German Federal Financial Supervisory Authority (BaFin) has reduced the systemic risk buffer for residential real estate financing from 2 percent to 1 percent, effective May 1, 2025. This amendment to the general administrative act from March 30, 2022, impacts institutions with exposures secured by residential property in Germany.

BaFin General Administrative Act on Futures Product Intervention

The German Federal Financial Supervisory Authority (BaFin) has issued a General Administrative Act imposing product intervention measures on futures. This action addresses investor protection concerns related to specific features of futures products, such as unlimited loss risk and speculative trading.