Italy’s Consob, the Bank of Italy and Ivass have signed a memorandum of understanding on alternative dispute resolution, according to a notice on Consob’s website. The agreement is intended to strengthen cooperation among the three authorities and promote a more integrated and accessible system of customer protection that reflects market developments and users’ needs.
The protocol provides for information sharing, discussion of issues of common interest and joint initiatives to improve the efficiency and effectiveness of out-of-court dispute resolution tools.
These include the Banking and Financial Ombudsman, managed by the Bank of Italy; the Financial Disputes Arbitrator, established by Consob; and the Insurance Arbitrator, established by Ivass.
Sources: ANSA Economia.