Riccardo Haupt

Today marks the entry into force of the Italian law on artificial intelligence (Law No. 132 of 23 September 2025). While many of its provisions reaffirm principles already enshrined in the EU AI Act, the legislation also provides specific measures addressing key aspects of the AI Act’s implementation - including in the areas of data protection, copyright, and criminal law - and establishes Italy’s national AI governance framework. I had the opportunity to comment on these developments and discuss how they align the Italian legal system with the EU framework on AI regulation together with Daniele Bellasio in this episode of the Macro podcast for Il Sole 24 Ore https://lnkd.in/d8Jqs4NA

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We are delighted to announce that Fiditalia S.p.A., a leading consumer credit company within the Société Générale Group, has chosen Park West for its new headquarter. Dils acted as advisor for the lease between Fiditalia and Park West Fund, bringing the occupancy rate to 75%. This milestone further underscores the project's strong appeal, already home to renowned companies. Park West is an innovative office hub in Milan's south-west quadrant, developed by DeA Capital Real Estate SGR, with Orion European Real Estate Fund V as the fund's investor. Designed by Mario Cucinella Architects (MCA), it features over 35,000 sqm across three buildings and surrounded by the Fontanili Park; the complex has been conceived to enhance employee well-being and sustainability with large welcoming common areas, a restaurant, an auditorium, a gym, a childcare facility achieving certifications such as LEED Platinum, WELL, and Fitwel. Its strategic location ensures excellent public and private transport connectivity, adjacent to M1 Bisceglie metro terminal, in proximity to the M4 San Cristoforo station, a network of pedestrian and cycle paths, not to mention Milan’s western ring road. Discover more: https://lnkd.in/dAjjGP-7 #Dils #RealEstate #Sustainability #ParkWest #Milan #Innovation #OfficeSpace

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The Italian Transport Regulation Authority just published the #report on Vertical Separation in Railways produced by the Professors in their #AdvisoryBoard Luigi dell'Olio, Rosário Macario and myself Juan Montero. We analise the existing #academicliterature, #currentpractices across the European Union and beyond, the existing EU #regulatoryframework and we end up with some conclusions and proposals. #Conclusion 1:  Absent ownership separation, there will always be incentives for infrastructure managers to discriminate, independently of whether there is more separation (ei Spain) or less (Germany, France, Italy). It is therefore important to enforce the principles and obligations in the Recast Directive: (1) No Dual Appointments; (2) Independent Management Incentives; (3) Management of human resources; (4) Protection of sensitive Information; (5) Impartial Decision-Making; and (6) Transparency and non-discriminatory practices. It is the role of the Regulatory Body to enforce these measures.  #Conclusion 2: Coordination of the fragmented ecosystem is a loophole in the regulatory framework not only in railways but across other network industries. Closer coordination between the infrastructure manager and #ALL the railway undertakings is necessary to overcome the #efficiencylosses derived from the existing separation rules. The informal communication procedures within the traditional fully integrated incumbent need to be substituted though formal communications on equal footing with all railway undertakings. This is the scope of instruments as the #networkstatement and the procedure for the #annualallocationofcapacity. However, #furtherinstruments are necessary to coordinate temporary capacity restrictions, long-term capacity allocations of capacity, traffic management. #Planning and #consultations are instruments that reduce the efficiency losses derived from separation. Looking forward to the new capacity regulation! Looking forward to working on new projects with the new members of the Advisory Board: Aurore Laget-Annamayer and Antoine Frémont

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Our "Turnaround & Restructuring" event was the opportunity to bring together Andersen in Italy partners Stefano Uglietti, Natascia Alesiani, Gianclaudio Fischetti and Alessandra Nodari and other experts Giannicola Rocca, Tommaso Longo, Giuseppe Acciaro and Riccardo Bonivento to explore concrete strategies for overcoming business crises and restoring companies stability.   Main takeways from the discussion: ✔️Types of financing and corporate operations that companies can pursue. Turnaround funds, supported by specialized advisors, can inject essential financial resources and structure operations - including acquisitions - to restore profitability. ✔️The need for companies of a structured governance. Establishing robust organizational, administrative, and accounting structures is important to monitor and prevent crises proactively. ✔️Negotiated settlement of a crisis as a strategic tool: as the first out-of-court restructuring instrument, it allows businesses to reorganize debt and restore financial stability. However, to secure external financing and demonstrate the credibility of recovery plans, businesses must equip themselves with robust reporting frameworks that reassure potential investors.   The current challenge is to help Italian SMEs recognize and appreciate the importance of these structures, which are crucial for fostering business stability and growth. Andrea Ferrandi, Maricla Pennesi, Cesare Conti Marta Pasqui, Beatrice Gragnoli

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