Presidential Legislative Decree No. 5/19, of 2 May 2019, recently approved the Legal Regime governing Guarantee Funds for Management Entities of Regulated Markets, Clearing Houses, Central Counterparties  and Centralized Securities Systems. These Funds are aimed at compensating non-institutional investors for potential losses resulting from the action of intermediary market agents, other than the inherent investment risks involved.

Presidential Legislative Decree No. 5/19 entered into force on 2 May 2019.

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