Introduction section Stability and financial resilience: further details on the measures on the “No-Deal Brexit” approved by the Cabinet March 20th, 2019
Stability and financial resilience: further details on the measures on the “No-Deal Brexit” approved by the Cabinet March 20th, 2019
On 20 March 2019, the Council of Ministers approved the “Stability LD”, which includes urgent financial and investment stability measures in the event of No-Deal Brexit.
These measures are introduced to protect the stability of Italy’s financial, banking and insurance system, as well as to ensure the integrity of the markets and the protection of investors, customers and policyholders, in the event that the United Kingdom of Great Britain and Northern Ireland do not ratify the agreement for withdrawal from the European Union Treaty by the upcoming 29 March. Unless this deadline is extended at the very last minute, this body of rules shall govern the consequences that the United Kingdom's exit from the EUwithout agreement will produce on UK intermediaries and markets doing business in Italy and vice versa, providing for the procedure that will allow them to continue their activities or the methods that will allow them to stop doing business in an orderly manner.
Download Chapter II, Section I, of Decree Law 22/2019 of 25 March 2019 in English, about transitional measures to ensure the operational continuity of intermediaries and markets also in the event of a no-deal Brexit.