Regulatory Alerts2011-06-12
Operational Guidelines for Ministerial Decree No. 29 of 17 February 2009 on Financial Intermediaries
The Bank of Italy issued operational guidelines implementing Ministerial Decree No. 29 of 17 February 2009, which revises secondary legislation for financial intermediaries under the Banking Consolidation Law. The decree introduces stricter capital adequacy requirements for intermediaries in special lists, redefines the scope of guarantee issuance and factoring activities, and significantly increases minimum capital for money brokers. It also mandates specific registration, reporting, and deregistration procedures for various intermediary categories to ensure compliance with updated prudential standards.
Share