Italy’s updated regulations on pay and bonuses in the banking sector aim to increase the regulation of economic incentives, in order to discourage bank employees from exposing banks and the wider economy to excessive risk. This article sets out the main elements of the new rules and possible difficulties with their implementation. It also provides views on the issue of pay in the financial services sector from other countries.   On 30 October 2018 the Bank of...

The Italian Supreme Court has confirmed that the protection from dismissal offered solely for women employees in the period around marriage does not constitute discrimination. The Italian Supreme Court of Cassation recently confirmed its opinion that the prohibition on dismissing an employee during the period from the date of publication of marriage banns to the first anniversary of the wedding (known as ‘dismissal for marriage’) only applies to women. In its judgment (no. 28926) of...

A measure recently reintroduced by the new Italian Government gives companies in crisis who have wholly or partially ceased trading the opportunity to apply for financial support to guarantee employee wages. This article sets out the details and conditions of the revived provision. In a Decree Law effective from 29 September 2018, the new Italian Government has reintroduced the possibility for companies that cease their business or part of it to request an extraordinary wage subsidy (CIGS)...

From June 2018 the so-called ‘buy-back right’ (diritto di recompra) became part of the football player transfer market in Italy, after it was incorporated into the domestic organisational rules of the Italian Football Federation (NOIF). Buy-back rights are governed by Article 102 of the NOIF under which football clubs can include an option in a transfer agreement in favour of the selling club, giving it the right to buy back a transferred player’s sporting services definitively. Under Italian Law,...