titoli di massa
English translation: publicly held securities
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| 10:11 Aug 24, 2020 |
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| Italian to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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|  Selected response from: Mark Pleas Japan Local time: 17:30 | ||||||
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| Summary of answers provided | ||||
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| 5 | securities |
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| 3 +1 | publicly held securities |
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| 3 | hybrid security |
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| Discussion entries: 2 | |
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Answers
17 mins confidence: 
securities Explanation: This is just an alternative to "valori mobiliari", i.e. securities which can then be debt/debenture securities (bonds) or equity securities (stocks/shares). |
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1 hr confidence: 
| titolo di massa hybrid security Explanation: privately issued to reflect Mark P's no-public prospectus scenario. I don't recall this AmE term from my City of London law-firm days but certainly the cognate idea of hybrid finance. Example sentence(s):
Reference: http://it.wikipedia.org/wiki/Titoli_di_credito Reference: http://en.wikipedia.org/wiki/Hybrid_security |
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3 hrs confidence: peer agreement (net): +1
peer agreement (net): +1publicly held securities Explanation: Borsa Italiana, in its GLOSSARIO FINANZIARIO under the term GESTIONE ACCENTRATA (https://www.borsaitaliana.it/borsa/glossario/gestione-accent... defines the term in passing in this way: "...La gestione accentrata dei titoli di massa (ossia degli strumenti finanziari diffusi presso un numero elevato di soggetti) nasce per risolvere le problematiche connesse alle modalità di circolazione e trasferimento degli stessi sostituendo il trasferimento di proprietà mednte [sic] vera e propria consegna del certificato con un mero giro contabile." In addition, Treccani (http://www.treccani.it/enciclopedia/titoli-atipici_(Enciclop... classifies "titoli di massa" as a type of "titoli atipici", seems to imply that they are always marketed to the general public (i.e., private offerings would not qualify as "titoli di massa"), and states that they go beyond just stocks and bonds to include such items as commercial paper (cambiali finanziarie), investment certificates, (certificati d'investimento), and real estate certificates (certificati immobiliari). I am unable to find any place in the Codice Civile where the term is defined, and it does not even seem to be mentioned in the Testo Unico Bancario (https://www.bancaditalia.it/compiti/vigilanza/intermediari/T... The TUIR (Testo Unico delle Imposte sui Redditi, https://www.altalex.com/documents/leggi/2014/07/17/tuir-tito... does not seem to define the term, but in art. 44 it seems to use "titoli di massa" as a sub-category of "certificati di massa". |
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