Secretariat of the Interministerial Committee for Credit and Savings

The Minister of Economy and Finance

President of the Interministerial Committee for Credit and Savings 127

HAVING REGARD to Legislative Decree No. 385 of September 1, 1993, and subsequent amendments, containing the "Consolidated Act of Laws in Banking and Credit Matters" (TUB), and in particular:

a) Article 128-bis, pursuant to which the subjects referred to in Article 115 of the TUB adhere to out-of-court dispute resolution systems meeting the requirements regulated by the CICR, upon proposal by the Bank of Italy, in order to ensure that the adjudicating body is impartial and representative and that the procedures ensure speed, cost-effectiveness of dispute resolution, and effectiveness of protection;

b) Article 127, paragraph 1, pursuant to which the Bank of Italy, taking into account the transparency of contractual conditions and the correctness of relationships with customers, in conformity with the deliberations of the CICR, may also issue provisions regarding internal organization and controls;

c) Article 127, paragraph 2, pursuant to which the provisions of Title VI of the TUB apply to confidi (credit guarantee societies) registered in the list provided for in Article 112 of the TUB, as established by the CICR;

HAVING REGARD to Legislative Decree No. 206 of September 6, 2005, containing the "Consumer Code, pursuant to Article 7 of Law No. 229 of July 29, 2003";

HAVING REGARD to the CICR Deliberation of July 29, 2008, No. 275, containing the criteria for the conduct of out-of-court dispute resolution procedures and the composition of the adjudicating body;

HAVING REGARD to Legislative Decree No. 28 of March 4, 2010, implementing Article 60 of Law No. 69 of June 18, 2009, regarding mediation aimed at the conciliation of civil and commercial disputes and subsequent amendments;

HAVING REGARD to Legislative Decree No. 11 of January 27, 2010, which provides users of payment services with the right to avail themselves of out-of-court dispute resolution systems;

HAVING REGARD to Directive 2013/11/EU of the European Parliament and of the Council of May 21, 2013, on alternative dispute resolution for consumer disputes (hereinafter referred to as the "Consumer ADR Directive");

HAVING REGARD to Regulation (EU) No. 524/2013 of the European Parliament and of the Council of May 21, 2013, on online dispute resolution for consumer disputes (hereinafter referred to as the "Consumer ODR Regulation");

HAVING REGARD to Legislative Decree No. 130 of August 6, 2015, which implemented Directive 2013/11/EU on alternative dispute resolution for consumer disputes;

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2.

The Minister of Economy and Finance
President of the Interministerial Committee for Credit and Savings

CONSIDERING the need to increase the efficiency and functionality of out-of-court dispute resolution systems to offer a transparent, simple, rapid, and fair solution to disputes between customers and intermediaries;

ON PROPOSAL of the Bank of Italy, formulated in agreement with CONSOB, pursuant to Article 127, paragraph 3, of the TUB;

DEEMING it urgent to act, pursuant to and for the effects of Article 3, paragraph 2, of the TUB;

DECREES

Art. 1
Amendments to the Deliberation of July 29, 2008, No. 275

1. The following amendments are made to the Deliberation of July 29, 2008, No. 275:

a) In Article 1, paragraph 1, letter c) is replaced by the following:
"c) 'intermediaries', banks, financial intermediaries registered in the list referred to in Article 106 of the TUB, confidi registered in the list provided for in Article 112 of the TUB, electronic money institutions, Poste Italiane S.p.A. with regard to bancoposta activities, banks and foreign intermediaries carrying out operations and services regulated by Title VI of the TUB in Italy towards the public, payment institutions;"

b) The following amendments are made to Article 2:

• in paragraph 4, after the word "euro", the following are added: "or the higher value provided by the Bank of Italy";
• paragraph 6 is replaced by the following:
  "6. Except for the exceptions provided by law, appeals concerning disputes already submitted to the judicial authority, remitted to arbitral decision, or for which a conciliation or mediation attempt is pending under legal provisions promoted by the appellant or to which they have adhered, cannot be filed."
• paragraph 10 is replaced by the following:
  "10. The appeal is free for customers, except for the payment of an amount equal to 20 euros as a contribution to the costs of the procedure; the contribution is reimbursed by the intermediary if the appeal is accepted in whole or in part, except for the exceptions identified by the Bank of Italy to discourage any opportunistic behavior and thereby increase the effectiveness of initiatives aimed at achieving a more rapid resolution of disputes, as referred to in Article 7, paragraph 1. The Bank of Italy may review the amount of said contribution in light of practical experience."

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3.

The Minister of Economy and Finance
President of the Interministerial Committee for Credit and Savings

c) The following amendments are made to Article 3:

• in paragraph 5, after the word "recusal", the following are added: ", or for operational needs of the adjudicating body's activity";
• paragraph 6 is replaced by the following:
  "6. In the event of absence, impediment, or recusal of the president, or for operational needs of the adjudicating body's activity, the respective functions are performed by the full members referred to in paragraph 1, letter a), in the capacity of vice-presidents."
• in paragraph 8, the words "only once" are replaced by the following: "in the cases and with the modalities provided by the Bank of Italy".

d) In Article 4, paragraph 3, the words "within thirty days from receipt of the complaint" are replaced by the following: "within the terms provided by the Provisions issued by the Bank of Italy in implementation of Title VI of the TUB".

e) The following amendments are made to Article 5:

• in paragraph 1:
  i. the words "giving timely notice to the intermediary," are eliminated; ii. after the word "complaint.", the following are added: "Timely notice of the appeal is given to the intermediary.";
• paragraph 2 is replaced by the following:
  "2. The appeal is addressed to the collegial body in whose territorial area of competence the customer has their seat or domicile at the respective technical secretariat, using the tools provided for this purpose."

f) The following amendments are made to Article 6:

• paragraph 1 is replaced by the following:
  "1. The collegial body rules within ninety days from the date on which the appeal file has been completed. In particularly complex disputes, this term may be extended for a period not exceeding 90 days in total. The technical secretariat conducts a preliminary investigation aimed at evaluating the existence of the prerequisites for submitting the appeal to the collegial body. The technical secretariat, within the tasks attributed to it by the Bank of Italy, may request further elements from the parties, setting a maximum deadline for their production.";
• in paragraph 4, the following words are eliminated: "The collegial body, ex officio or upon request of a party, declares the interruption of the proceedings if it emerges that a conciliation attempt has begun pursuant to legal provisions. If conciliation fails, the appeal may be re-filed without the need for a new complaint to the intermediary.";

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4.

The Minister of Economy and Finance
President of the Interministerial Committee for Credit and Savings

• in paragraph 5:
  i. the word "collected" is replaced by the following: "produced by the parties"; ii. the words are eliminated: "It may contain indications aimed at favoring relations between intermediaries and customers."
• in paragraph 6, the words ", or in the different term provided by the same" are replaced by the following: "complete with the reasoning";
• in paragraph 7, after the word "public", the following are inserted: "on the website of the ABF and the intermediary".

g) Article 7, paragraph 1 is replaced by the following:
"1. The Bank of Italy issues the implementing provisions of this Deliberation, providing, inter alia: characteristics and tasks of the technical secretariat and the associative bodies identified pursuant to Article 3, paragraph 2; suitability requirements for the members of the adjudicating body; the establishment of specific information flows; the widespread use of electronic communication tools; the faculty for the president of the adjudicating body to take initiatives aimed at achieving a more rapid resolution of disputes, also by accepting the appeal or by formulating a proposal for an early settlement of the dispute; the modulation of the costs of the procedure, with the introduction of appropriate incentive or disincentive mechanisms, in relation to the behavior of the parties; the adherence of systems to the Fin.Net network promoted by the European Commission and the cases in which intermediaries having their seat in another Member State of the European Union may, alternatively to what is provided pursuant to Article 2, paragraph 1, adhere to a system for out-of-court dispute resolution abroad that is part of the same Fin.Net network."

Art. 2
Entry into Force

1. This Decree is published in the Official Gazette of the Italian Republic and enters into force on the date of entry into force of the Bank of Italy Provisions implementing this Decree.

Rome, July 10, 2020

THE MINISTER
GUALTIERI ROBERTO
MINISTRY OF ECONOMY AND FINANCE
June 30, 2020
09:06:47 UTC

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5.

The Minister of Economy and Finance
President of the Interministerial Committee for Credit and Savings

HAVING REGARD

THE HEAD OF THE SECRETARIAT OF THE CICR

BERNASCONI FABIO
Digitally signed by BERNASCONI FABIO
Date: 2020.06.12 12:24:29 +02'00'

THE GENERAL DIRECTOR OF THE TREASURY - Secretary of the CICR

Digitally signed by: Alessandro Rivera
Organization: MEF/80415740580
Unit: DIP. TESORO - UCID
Date: 18/06/2020 16:29:14