Arbiter for Financial Disputes

The 2020 Annual Report of the Arbiter for Financial Disputes (ACF), the entity established at Consob in 2016 for alternative dispute resolution between retail investors and intermediaries authorised to provide investment services, in the event of a breach by the latter of their obligations of diligence, transparency, integrity and information, has been published.The number of applications increased by 5.6% in 2020 compared to 2019. In 2020, ACF received claims for damages that came close to €100 million in total. As in the 2019, the majority of applications came from the south (45%), followed by the north (37%) and centre (18%) of Italy.