We have talked about it several times in recent months, updating you on the TAR’s decisions [inibitoria prima e rigetto dei ricorsi poi] and today we have reached yet another chapter of this troubled affair which concerns – as you will remember – the mandatory communication of the name of the Beneficial Owner to the Chambers of Commerce.
We also had the opportunity to give an account of the TAR’s sentences [Sediva News del 15 aprile 2024: “Il “ritorno” del Titolare Effettivo respinti i ricorsi al Tar”] who had rejected the appeals proposed, confirming the legitimacy of the structure of the MIMIT decree and in particular of the “generalized” access to information, which is also expressly limited to those with a “legitimate interest”.
Now the Council of State – with precautionary orders nos. 3366, 3367, 3532, 3522 and 3544 of 17 May 2024 – suspended the execution of the sentences until September 19th [quando verrà discusso il merito dei ricorsi].
The VI Section. of the CdS underlined that the central crux of the problem concerns the privacy and therefore the compatibility of both internal and European regulations on Beneficial Owner.
The appellants highlighted how the data access mechanism was permitted indiscriminately to third parties [come “Autorità, soggetti obbligati e pubblico”]involves significant risks.
This access system allows professionals and entities to access very sensitive corporate and asset data, without, however, guaranteeing adequate proportionality in access.
In practice, anyone could exploit a professional or organization to obtain a considerable amount of data recorded in Italy.
The Council of State – here we are at the point – highlighted in the provision the need for an in-depth analysis of the issues of internal regulatory compliance with EU law and opened up the possibility of a referral to the European Court of Justice.
While waiting for the next developments, the matter therefore remains open and subject to further developments.
(aldo montini)
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