This Italian FTT Derivatives Protocol* has been published by the Association for Financial Markets in Europe (AFME). Its purpose is to allow parties to adhere to a set of standard provisions as to the allocation of payment and reporting responsibilities and obligations in circumstances where transactions in certain equity derivatives are subject to the taxation on financial transactions under article 1, paragraph 492, of the Italian Law 228 of 24 December 2012 (the Law 228) and articles from 7 to 11 of the Decree of the Minister of Economy and Finance dated 21 February 2013 (the Treasury Decree).A party intending to adhere to the Protocol should follow the process set out in clause 2.2 of the Protocol and send to AFME: (a) hardcopy of the manually signed Adherence Letter (b) hardcopy of the conformed Adherence Letter (ie. with the printed or typewritten name of each signatory in place of each signature) (c) scanned pdf copies of (a) and (b).
Please send in scanned pdf copies of both the signed original and a conformed copy (ie. a copy with the printed or typewritten name of each signatory in place of each signature) to [email protected]
The Protocol, accompanying exhibits and completed forms that have been submitted to AFME can be found below:
*The Italian FTT Derivatives Protocol is a legal document and parties intending to adhere to the Protocol should take their own legal advice on its terms and the legal effect of adhering to the Protocol.