ITALY Trends and Developments Contributed by: Enrico Maria Mancuso, Federico Bracalente, Marco Accorroni and Marco Mariotti, Herbert Smith Freehills Kramer LLP
stake and the deterrent effect of existing measures. Directive (EU) 2024/1226 aimed to address these shortcomings by harmonising member state rules and raising standards of effectiveness and deterrence. The Decree faithfully transposes the European guide - lines without introducing unexpected changes, but nevertheless has a significant impact on the Italian legal system and on the economic operators con - cerned. In particular, the catalogue of European restrictive measures, which retains an integrative function with respect to national criminal law, is governed by numer - ous supranational sources, often of highly technical content and in constant evolution, on whose interpre - tation there is little case law and only partial regulatory guidance from European institutions.
In light of the new piece of legislation, companies now need to: • carry out a comprehensive functional risk assess - ment to identify the restrictive measures relevant to their business activities; • urgently integrate organisational models and relat - ed procedures with requirements aimed at ensuring compliance; and • continuously review and update organisational safeguards in light of the rapid evolution of EU measures – an unprecedented challenge in the Ital - ian system of corporate liability.
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