Ruining supply

The Bank of Italy’s crackdown on bond prospectus regulation since Parmalat’s default is discouraging issuers from offering their bonds in Italy. As a result, many investors aremissing out on new issues. Laurence Neville reports

0504-tremelot-gif
A move by the Bank of Italy to tighten up bond regulation in the wake of the Parmalat debacle has left Italian fixed-income investors fuming. In effect, they have been prevented from buying new international bond issues as a result of the central bank’s efforts to protect retail investors.

Since January, Italy’s central bank has chosen to fully enforce Article 129 of the banking law, which controls the distribution of foreign securities in the country, in a bid to safeguard retail investors who

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here