Francesco P Crocenzi 

Partner, Studio Legale Cieri Crocenzi (Italy)

Financial and Securities Law



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Francesco Paolo Crocenzi is a founding partner of Studio Legale Cieri Crocenzi, an Italian law firm with offices in Rome and Milan. Before founding his own firm Francesco worked in two leading Italian law firms practising international law.


Francesco has a LLM. (Licence Spéciale en Droit Européen - Free University of Brussels) on EU law, and from 1992 to 2002 he taught EU law at the Law School of the LUISS Guido Carli University of Rome.


He is an international lawyer practising corporate law with a focus on financial law, securities regulations and EU laws and regulations. He advises international clients on several matters related to the issue and the placement of securities in Italy, including units of collective investment schemes, and on investment services. In particular, Francesco assists non Italian funds and asset managers in their relationship with Italian institutional clients (such as investment funds, banks, insurance companies and pension funds). He represents foreign asset managers in administrative proceedings related to clearances or authorisations for their business in Italy, and, in particular, collective investment schemes in relation to the obtaining of any clearance for the marketing of their shares/units in Italy, as well as foreign entities seeking authorisation for Italian fund manager companies (“SGRs”) established by these foreign entities. He also assists Luxembourg, Irish and French ETFs, along with Jersey ETCs, in the procedures for listing on Borsa Italiana. In this context, Francesco currently assists more than 50% (by AUM) of the ETF listed on Borsa Italiana and has assisted the entirety of the ETC currently listed on the same exchange. 


Francesco published various contributions on the Italian securities regulations in a number of newsletters and books, including the section on Italy of International Securities Regulations (Yorkhill Law Publishing, from 1992, updated yearly). He also prepared the section on Italy of a multi-national research made by Harvard University on the responsibilities arising from issuing a prospectus and he regularly gives presentations in French on the developments in the Italian securities law at the French Association of Managing Companies (AFG-ASSFI).  Finally, he wrote and updates yearly the chapter on Italy of a multi-national survey on hedge funds (“Comparative Jurisdiction Guide – where to set up and, perhaps, manage a hedge fund”) published by ISI Publications.


He also published in 1997 two essays (i) on the different interpretation of the EC competition law in Italy and in the EU, as well as (ii) on the consistency of the Italian law on the protection of large companies in crisis with the EC rules on state aids, being respectively: (i) “L'articolo 1, 4° comma, della L. 287/90: ortodossia e eterodossia dell'Autorità garante rispetto l'antitrust comunitario”, and (ii), written with Professoressa Maria Martellini of the University of Milan, "Legge Prodi" e articolo 92 del Trattato europeo, both in Concorrenza e Mercato, no. 5/1997 Giuffrè editore. 


Finally, Francesco published two books in Italian, the first on the reform of the UN Security Council, and the second on the role of Italy in the world trade and finance .


Francesco’s mother tongue is the Italian, and he also speaks English, French and Spanish.