Best Structured Finance Lawyers in Velletri

1. About Structured Finance Law in Velletri, Italy

Structured finance in Velletri involves financing arrangements that pool assets and issue securities or notes backed by those assets. In Italy, these transactions are primarily governed by national financial laws and EU securitisation rules. The typical model uses a Special Purpose Vehicle (SPV) to isolate risk from originators and to issue notes to investors. In practice, an avvocato (lawyer) or legal counsel in Velletri coordinates between originators, servicers, rating agencies, and investors to ensure compliance and enforceability.

Italian law requires clear documentation, timely disclosures, and oversight by financial regulators. Local practitioners in Velletri frequently work with clients from Lazio and Rome to align SPV structures with both national rules and regional business considerations. For cross-border elements, you may encounter terms used in other jurisdictions, but the primary professional you will hire in Italy is an avvocato specialized in structured finance.

“Italian securitisation activity is shaped by the Testo Unico della Finanza and EU securitisation rules, with emphasis on transparency, due diligence, and risk retention.”

Consob and Banca d'Italia provide practical guidance on regulatory expectations for structured finance transactions in Italy, including securitisations and asset-backed securities.

2. Why You May Need a Lawyer

When pursuing structured finance in Velletri, enlisting a local avvocato is essential to navigate Italy's regulatory landscape and protect your interests. Below are real-world scenarios that illustrate concrete needs.

• You are an incoming business in Velletri seeking to securitize receivables from local suppliers. An avvocato helps design the SPV, assign assets correctly, and ensure the transfer complies with Legge 130/1999 and the TUF.
• You are a municipal or regional project sponsor financing a Lazio infrastructure program. A lawyer ensures debt covenants, public procurement rules, and cross-border financing documents stay compliant with Italian and EU standards.
• You are a bank issuing asset-backed securities to investors. An attorney reviews the prospectus, rating agency expectations, and regulatory reporting obligations under the EU Securitisation Regulation.
• You are an investor in structured notes offered in Italy. You need to understand risk disclosures, waterfall structures, and enforcement rights in the event of servicer failure.
• You are a servicer or originator in Velletri managing ongoing reporting and compliance. A lawyer helps with data privacy, AML controls, and contractual obligations with the SPV and investors.
• You anticipate cross-border elements with foreign counterparties. An avvocato coordinates with international counsel to align different jurisdictions and language requirements.

3. Local Laws Overview

Legge 130/1999 governs the securitisation of receivables in Italy, including SPV formation and asset transfers. It provides the framework for transferring assets to an SPV and issuing notes backed by those assets. This law remains a cornerstone for Italian cartolarizzazione arrangements.

Decreto Legislativo 58/1998 (TUF - Testo Unico della Finanza) regulates financial markets and instruments in Italy, including structured finance activities. It sets the regime for disclosure, prospectus requirements, and market conduct for securitisation transactions. The TUF forms the backbone of regulatory oversight in structured finance deals.

Regolamento Securitisation Regulation (EU) 2017/2402 with subsequent Italian implementation governs the European framework for securitisations. It emphasizes transparency, risk retention, and due diligence for securitised products. The regulation began to apply across member states in 2019 and continues to shape Italian securitisation practices.

Recent changes in practice reflect EU-level transparency and reporting expectations, with Italian regulators reinforcing compliance through CONSOB and Banca d'Italia guidance. Local Lazio and municipal projects in Velletri must align SPV structures with these standards to ensure market access and investor confidence. For ongoing matters, consult official regulator notices and sector guidance as part of your planning.

“Italy follows the EU Securitisation Regulation to enhance transparency, investor protections, and consistency across member states.”

Consob provides practical explanations on how securitisation issuances are regulated in Italy, including disclosure obligations and supervisory expectations. Banca d'Italia offers measurements and standards for supervising banks and securitisation activities within the country.

4. Frequently Asked Questions

What is structured finance in simple terms?

Structured finance pools assets and issues securities backed by those assets. It uses entities like SPVs to isolate risks and optimize financing terms.

How do I start a securitisation in Lazio?

Begin with an assessment of asset types, SPV structure, and regulatory compliance. Engage an avvocato to draft key documents and coordinate regulators.

What is an SPV and why is it used?

An SPV is a separate legal entity that isolates risk from the originator. It holds assets and issues notes to investors.

How much will legal costs likely be for a first securitisation?

Costs vary with complexity, but a basic securitisation in Italy often starts in the tens of thousands of euros for initial counsel and due diligence.

Do I need a local lawyer in Velletri?

Yes. A local avvocato understands Lazio regulations, regional contracting practices, and local market conventions.

What is the difference between securitisation and traditional lending?

Securitisation transfers assets to an SPV and raises funds from investors, whereas traditional lending relies on the balance sheet of the originator.

Can a small business securitize just a few receivables?

Yes, small businesses can securitize small portfolios, but scale considerations and costs must be weighed against benefits.

What are the main risks I should understand?

Risks include asset performance, servicing capability, regulatory changes, and the potential for conflicts of interest among participants.

What does due diligence involve in these deals?

Due diligence covers asset quality, legal transfers, contract documentation, and regulatory compliance checks.

Is cross-border counsel advisable for a Velletri deal?

It can be advisable if foreign counterparties or investors are involved, to harmonize legal standards across jurisdictions.

How long does a securitisation process take from start to close?

Typical timelines range from 3 to 9 months, depending on asset type, regulatory reviews, and investor demand.

What should I ask a lawyer before hiring for structured finance?

Ask about track record with SPV structures, experience with Italian securitisation law, and coordination with regulators and rating agencies.

5. Additional Resources

• Consob - Italian supervisory authority for the securities market; provides guidance on issuances, disclosures, and market conduct. https://www.consob.it
• Banca d'Italia - Central bank and financial regulator; offers oversight and technical guidance on securitisation and banking practices. https://www.bancaditalia.it
• Gazzetta Ufficiale - Official publication for Italian laws and regulations; essential for tracking amendments to securitisation frameworks. https://www.gazzettaufficiale.it

6. Next Steps

1. Define your securitisation objective and collect key documents (asset lists, contracts, and financial statements). Timeline: 1-2 weeks.
2. Identify and consult a local avvocato in Velletri with structured finance experience. Timeline: 1-2 weeks for initial contacts.
3. Request a preliminary assessment of SPV structure, eligible assets, and regulatory considerations. Timeline: 2-3 weeks.
4. Draft an initial term sheet and outline a project plan with milestones and regulatory approvals. Timeline: 2-4 weeks.
5. Prepare due diligence materials and engage regulators or auditors if required. Timeline: 4-6 weeks.
6. Negotiate and finalize key agreements, including SPV documents, servicing agreements, and investor disclosures. Timeline: 6-12 weeks.
7. Close the deal and implement ongoing compliance and reporting routines. Timeline: 2-4 weeks after signing.