The Bank of Italy and the Australian Securities and Investments Commission (ASIC) signed a Memorandum of Understanding (MoU)

The Bank of Italy and the Australian Securities and Investments Commission (ASIC) signed a Memorandum of Understanding (MoU) to facilitate the performance of their respective functions on supervised entities.

This agreement, though not legally binding, provides for a framework of effective cooperation and information exchange between the two authorities for supervisory purposes, including, among other things, procedures for conducting on-site inspections on the premises of supervised entities physically located in the other authority's jurisdiction.