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RBC Dexia’s latest survey shows that many Italian asset managers may find it challenging to comply with important new governance rules before they take effect at the end of June 2010. When polled between March and April 2010, only a quarter (26%) of respondents said they were fully prepared to meet the new rules, introduced by the Bank of Italy last year. Despite the looming implementation date, 42% said they had only just begun to assess the impact of the new guidelines. A further 27% declared they had a good understanding of the requirements and implications of the measures. The new measures aim to defend investor interests by giving operational autonomy to investment companies belonging to larger financial groups. They will be required to have independent control of their human,...
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