PROTOCOL OF UNDERSTANDING BANK OF ITALY - AGCM
PRESS RELEASE
BANK OF ITALY ITALIAN COMPETITION AUTHORITY
PRESS RELEASE
The Bank of Italy and the Italian Competition Authority today signed a Protocol dealing in particular with the definition of procedures to be applied in the exchange of information relating to merger and acquisition activities which affect the banking industry.
The Protocol implements Articles 19 (Paragraph 11), 20 and 21 of Law no. 262 of 28 December 2005 called “Measures for the protection of investors and the regulation of financial markets”, as amended. It specifies the manner in which the two Authorities consult with each other and exchange information in order to facilitate the exercise of their respective institutional functions, with the aim of reducing the burden on companies subject to regulation.
(The text of the Protocol may be viewed on the websites of the Bank of Italy (www.bancaditalia.it) and of the Italian Competition Authority (www.agcm.it).
Rome, 2 April 2007