Newsalert | Financial Regulation; Real Estate; Tax 13/03/2024

The recently approved “Legge Capitali” of 5 March 2024, published in the Official Gazette on 12 March, introduces important changes in the provisions applicable to Italian investment companies with fixed capital (SICAFs).

The Chiomenti Professionals analyzed the main changes introduced, including the elimination of the Bank of Italy's prior authorization to the establishment of externally managed SICAFs, the clarifications on the liability regime applicable to multi-compartment SICAFs, and the application of the compulsory liquidation procedure also to SICAFs and their compartments.

The amendments aim at rationalizing the legal framework applicable to SICAFs (and Sicavs), taking into account the different characteristics of such investment schemes, to further develop the Italian investment market.