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 Under Delegated Regulation (EU) No. 2018/1108 on anti-money laundering (AML) obligations, payment service providers (PSPs) and electronic money institutions (EMIs) with their registered office in one EU Member State that operate in another Member State may, under certain conditions, be considered established in the host country even in the absence of a physical branch.
In such cases, these institutions are required to comply with the AML/CFT framework of the host Member State.

The host State may require PSPs and EMIs to appoint a Central Contact Point (CCP), in accordance with the conditions set out in Delegated Regulation (EU) 2018/1108.
The CCP is entrusted with a series of functions defined by the Regulation, including facilitating compliance with AML/CFT obligations, ensuring effective communication with supervisory authorities, and supporting reporting activities on behalf of the institution.

In line with the European framework, the Italian AML legislation has:

i) extended the scope of Italian AML requirements to PSPs and EMIs whose registered office and central administration are located in another EU Member State, when they operate in Italy through one or more agents or affiliated distributors;

ii) imposed on such entities the obligation to establish a Central Contact Point in Italy.

Pursuant to Article 43(4) of Legislative Decree No. 231/2007, the Bank of Italy is empowered to issue provisions concerning the requirements, procedures, internal controls, and functions of the CCP, in alignment with Delegated Regulation (EU) 2018/1108.

The Bank of Italy exercised this authority by issuing its dedicated regulatory provisions through the Measure of 27 March 2019, which sets out in detail the operational obligations, governance expectations, and reporting requirements applicable to CCPs operating in Italy.