The CFTC and the Commissione Nazionale per le Società e la Borsa (i.e., the Italian Companies and Exchange Commission) entered into a Memorandum of Understanding ("MOU") concerning the supervision and oversight of derivatives-related activities between the United States and Italy.

The MOU sets forth the terms for cooperation and the exchange of information, which are intended to support informal consultations and formal cooperation, as well as to facilitate the written exchange of non-public information. The MOU outlines, among other things, (i) the circumstances that would prompt event-triggered notifications, (ii) the type of information that falls under "request-based" information sharing, and (iii) potential discussion points for the periodic meetings between respective agency representatives.

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