Regulatory Alerts2003-03-04
CICR and Urgent DM Deliberations - Deliberation of 4 March 2003, No. 286
The Interministerial Committee for Credit and Savings issued Deliberation No. 286 on 4 March 2003 to establish comprehensive transparency rules for the contractual conditions of banking and financial operations and services. The regulation mandates that intermediaries provide clear pre-contractual and contractual information, including summary documents and synthetic cost indicators, while strictly governing the communication of unfavorable contractual changes and periodic account statements. These provisions apply to banks, financial intermediaries, and other entities such as Poste Italiane and electronic money institutions, replacing previous transparency decrees and entering into force on 1 October 2003.
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