Italy: urgent financial measures in the event of the Hard Brexit scenario

Written on 28 Mar 2019

The attached Guidance Note seeks to provide some guidance on the urgent measures adopted by the Italian Government in order to ensure the financial stability in the event of the withdrawal of the United Kingdom from the European Union in a no-deal scenario.

In particular, this Note outlines the provisions of Italian Decree No 22 dated 25 March 2019 (“Italian Brexit Decree”) concerning the rules applicable to the UK payment service providers operating in Italy at the date of the withdrawal.

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