The Client may appeal to the Financial Disputes Arbitrator (Arbitro per le Controversie Finanziarie - ACF), established at CONSOB, for the extrajudicial resolution of disputes between investors (other than professional clients) and independent financial advisors and financial consultancy firms referred to, respectively, in Articles 18-bis and 18-ter of the TUF, relating to the violation by the latter of the obligations of diligence, correctness, information and transparency in the exercise of the activity governed by Part II of the TUF, including disputes covered by Regulation (EU) no. 524/2013.

Disputes involving requests for sums of money exceeding five hundred thousand Euros do not fall within the scope of the Arbitrator's operations.

The Arbitrator's jurisdiction does not cover damages that are not an immediate and direct consequence of the intermediary's failure to fulfill or violate the obligations described above and those that are not of a patrimonial nature.

The right to appeal to the ACF is inalienable and can always be exercised even in the presence of clauses regarding the devolution of disputes to other extrajudicial resolution bodies contained in the contract.

For further information please refer to the website: https://www.acf.consob.it/