Following the implementation of Directive (EU) 2023/2673 into Italian law via the amended Legislative Decree No. 209, published in the Official Journal of the Italian Republic (Gazzetta Ufficiale No. 5, 2026), subscription forms (“modulo di sottoscrizione”) must now update their legal references. Specifically, the section concerning the right of withdrawal for retail investors, e.g. “Diritto di recesso” or “Facoltà di recesso" in Italian, must cite the new “Article 59‑octies” in place of the former “Article 67 duodecies”.
The change took effect on 19 June 2026 and is applicable to all subscription forms published on or after this date according to the CONSOB.
For further details, please refer to the amended regulation (in Italian).
Please feel free to contact us should you require any additional information.
