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Portrait ofGianfabio Florio

Gianfabio Florio

Counsel

CMS Adonnino Ascoli & Cavasola Scamoni
Via A. Depretis 86
00184 Rome
Italy
Languages Italian, English

Gianfabio Florio began collaborating with the firm in 2008 in the Banking and Finance Department.

 He assists clients in the banking and corporate sectors. He is specialized in bankruptcy law, contractual law and banking and financial litigation.

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Memberships & Roles

  • Rome Bar Association
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Education

  • 2008 - London School of Economics (UK), Advanced Course of Economics
  • 2008 - Queen Mary College (UK), LLM in Banking Law
  • 2006 - Admitted to the Rome Bar Association
  • 2003 - University of Rome "LUISS Guido Carli", Law Degree
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Expertise

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11/03/2024
Looking ahead to the EU AI Act
Introduction The European Union is preparing for the imminent adoption of the world’s most significant legislation on Artificial Intelligence, solidifying its position as a pioneer among global legislators. This initiative aims to establish and reinforce the EU’s role as a premier hub for AI while ensuring that AI development remains focused on human-centered and trustworthy principles. To expedite the achievement of these goals, on 8 December 2023, after three days of debate, the European Parliament and the Council of the European Union finally reached a provisional agreement on the “Proposal for a Regulation laying down harmonised rules on artificial intelligence” (the so-called AI Act), which aims to ensure that AI systems placed on the European market are safe and respect the fundamental rights and values of the EU. Subsequent to this provisional agreement, technical refinement of the AI Act continued to finalise the regulation’s details and text. The final vote of the European Parliament on the AI Act will take place at 13 March 2024. Since the European Parliament's Committees on the Internal Market and Consumer Protection (IMCO) and on Civil Liberties, Justice and Home Affairs (LIBE) have endorsed overwhelmingly the proposed text, the approval of the European Parliament can be expected. After a long and complex journey that began in 2021 with the European Commission’s proposal of a draft AI Act, this new regulation is expected to be passed into law in spring 2024, once it has been approved by the European Parliament and the Council of the European Union . The AI Act aims to ensure that the marketing and use of AI systems and their outputs in the EU are consistent with fundamental rights under EU law, such as privacy, democracy, the rule of law and environmental sustainability. Adopting a dual approach, it outright prohibits AI systems deemed to pose unacceptable risks while imposing regulatory obligations on other AI systems and their outputs. The new regulation, which also aims to strike a fair balance between innovation and the protection of individuals, not only makes Europe a world leader in the regulation of this new technology, but also endeavours to create a legal framework that users of AI technologies will be able to comply with in order to make the most of this significant development opportunity. In this article we provide a first overview of the key points contained in the text of the AI Act1This article (including the relevant citations below) is based on the latest draft available on the Council’s website. The AI Act remains subject to possible further refinement, but not as regards content, and the text referred to for this article should be considered as the closest to the one that will be voted on by the EU Parliament. footnote that companies should be aware of in order to prepare for the implementing regulation.
07/02/2024
CMS Expert Guide to Crypto Regulation in Italy
Disclaimer: This chapter was last updated on 5 September 2023 and does not reflect any subsequent developments. The information provided is intended for general informational purposes and should not be...
Comparable
14/07/2023
Pre-pack procedure in Italy: legislation gaps and possible applications
The European Commission proposal for the directive published on 7 December 2022 (the “Proposed Directive”) seeks to increase harmonisation of insolvency legislation of EU member states, providing...
07/04/2023
Digital Finance Strategy: implementation continues
On 16 March, in Italy was approved the law-decree (“Law-De­cree”) that introduces specific provisions for the issuance and circulation of financial instruments in digital form and simplifies ex­per­i­ment­a­tion...
21/12/2022
May Crypto-cur­ren­cies be qualified as investment product?
The Italian Supreme Court has recently (decision no. 44378 of 22 November 2022) stated that, under certain circumstances, cryptocurrencies must be considered “investment instruments”, and as such...
01/12/2021
E-signatures in finance and NPL transactions in Italy
1. E-con­tract­ing, e-statements and e-signatures in banking & finance transaction contracts and legal statements 1.1 Which are the typical documents (contracts, legal statements, etc.) where written...
08/10/2021
Regulatory sandbox: the first timeslot for the experimentation of FinTech...
Decree No. 100 of the Ministry of Economy and Finance of 30 April 2021 has approved the Regulation governing the procedures for carrying out the experimentation in Italy of FinTech activities, defined...
18/02/2021
Limits to the operation in Italy of UK banks and investment companies after...
Starting from 1st January 2021, the provision of banking, financial investment services in Italy by British banks, electronic money institutions, and investment firms shall be deemed to be abusive, unless...
12/02/2021
Limits to the operation in Italy of UK banks and investment companies after...
Starting from 1st January 2021, the provision of banking, financial investment services in Italy by British banks, electronic money institutions, and investment firms shall be deemed to be abusive, unless...
04/01/2021
Law and regulation of Covid-19 loan moratoriums in Italy
1. Description of the legislation 1.1 Is there a moratorium on loans legislation implemented in your jurisdiction? Yes. 1.2 If no: Are there any ongoing discussions regarding a potential introduction...
Comparable
10/04/2020
New measures of the “Restore Liquidity” Decree on new loans, state guarantees...
Through the so-called “Liquidity” law-decree (no. 23 of 8 April 2020), the Italian Government has taken a series of measures which, together with the previously issued law-decree no. 18 of 17 March...
27/03/2020
The main liquidity and financial measures addressed to enterprises in the...
The Law Decree no. 18 of 17 March 2020 (hereinafter, the “Decree”) is, at this point, a well-known legislative tool also to the audience of non-experts, considering that it aims at adopting measures...