The Italian Communications Authority (AGCOM) will be enforcing new rules on YouTube and similar sites that provide video content alongside advertising in 2011.
The new rules impose the following:
• 500€ tax
• Restricted inappropriate content for children being shown at certain times of the day
• An obligation to publish "corrections" of video content within 48 hours if requested by an alleged slander victim
• Potential liability for any and all copyright content appearing on the site
This is all I was able to translate from the original Italian source ;)