Italy

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Italy announces a temporary regime for Italian-UK provision of banking, financial and insurance services

On 24 January 2019, the Ministry of Economic and Finance issued a press release to inform the market that the Italian Government is preparing the necessary measures to ensure the continuity of markets and intermediary business should a hard Brexit occur (i.e. exit with no deal). The press release is available at this link (in … Continue Reading

ESMA statement on UK CCPs’ and CSDs’ recognition applications for a no-deal Brexit scenario

On 20 December 2018, European Securities and Markets Authority (ESMA) issued a public statement stating that it is ready to review UK central counterparties’ (CCPs) and Central Securities Depositories’ (CSDs) recognition applications for a no-deal Brexit scenario. ESMA states that it aims to recognise UK CCPs in a timely manner, where the four recognition conditions … Continue Reading

Markus Ferber elected EPP’s new whip in ECON committee

Markus Ferber, a German MEP, has been elected the new whip for the European People’s Party in the European Parliament’s Committee on Economic and Monetary Affairs (ECON). Mr Ferber previously was the first vice chair of the ECON committee and succeeds Burkhard Balz who is leaving the Parliament to join the board of German Bundesbank … Continue Reading

Basel Committee consults on the implications of Fintech for the financial sector

The Basel Committee on Banking Supervision (Basel Committee) has published a consultative document that is intended to provide a forward-looking perspective on Fintech and its potential impact on the banking industry. The consultative document combines historical research, analysis of current media and industry periodicals, surveys on Basel Committee members’ activities, Fintech product analysis and scenario … Continue Reading
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