BREXIT: The Ministry of Economy and Finance announces transition measure in the event of no deal

Category

Undertakings, Intermediaries, Other

Description

The Ministry of Economy and Finance published a press release (only in Italian) announcing the measures which the Italian Government intends to take in order to avoid a cliff-edge effect on financial activity in the event of a no-deal Brexit.

For further information about the initiatives taken by the EU bodies concerning preparations for Brexit, see the links below:

• European Commission: https://ec.europa.eu/social/main.jsp?catId=89&furtherNews=yes&newsId=9342&langId=en
• European Insurance and Occupational Pensions Authority (EIOPA): https://www.eiopa.europa.eu/media/news/eiopa-calls-immediate-action-ensure-service-continuity-cross-border-insurance_en; https://register.eiopa.europa.eu/Publications/Opinions/2017-12-21%20EIOPA-BoS-17-389_Opinion_on_service_continuity.pdf; https://www.eiopa.europa.eu/sites/default/files/publications/opinions/eiopa-bos-18-119-opinion_on_disclosure.pdf
• European Banking Authority: https://www.eba.europa.eu/eba-publishes-opinion-to-hasten-the-preparations-of-financial-institutions-for-brexit; https://www.eba.europa.eu/eba-provides-guidance-to-authorities-and-institutions-on-brexit-relocations
• European Securities and Markets Authority: https://www.esma.europa.eu/document/esma-statement-recognition-uk-ccps-and-csd-in-no-deal-brexit; https://www.esma.europa.eu/document/brexit-statement-information-clients
• European Central Bank: https://www.bankingsupervision.europa.eu/banking/relocating/html/index.en.html
• Single Resolution Board: https://srb.europa.eu/en/node/679

issue date

25 January 2019