On January 17, 2007, the Rome office authored an Alert Memorandum entitled, “Italy Repeals Requirement for Prior Bank of Italy Authorization for the Placement of Non-Standard Securities.” The Alert discusses the Italian Government’s adoption of Legislative Decree no. 303 (“Legislative Decree No. 303”), which will come into effect on January 25, 2007. Legislative Decree No. 303 repeals the requirement for prior Bank of Italy “Article 129” authorization for placements of non-standard securities. The Alert briefly summarizes the key points of this decree.