ComplaintsIn the event that a dispute arises between a Client and the Company concerning financial products, investment services or ancillary services, the Client may file a complaint with the Company.
This case includes disputes regarding the placement and distribution of financial products issued by insurance companies (Class III, Class V policies).
The complaint can be submitted by registered letter with return receipt or electronically, also through the PEC, addressed to:
Valori Asset Management SA
Boulevard Joseph II 43, L-1840 – Lussemburgo
The Company must respond within 30 days of receipt.
In the event that a dispute arises between the Client and the Company concerning the provision of investment services, before applying to the Court, the Client has the possibility to use the following dispute resolution here below reported.
The Client may contact the Arbitrator in Financial Disputes (ACF) free of charge for the resolution of disputes that have arisen with the Company regarding the obligations of diligence, fairness, information and transparency to be provided to investors (in the exercise of the activities regulated in Part II of Legislative Decree No. 58/98, including cross-border disputes and disputes subject to EU Regulation No. 524/2013). With reference to the Luxembourg regulatory framework, please refer to the CSSF circular 17/671 and CSSF regulation 16-07 (Luxembourg Supervisory Commission) provided that the Client is not among the investors classified as qualified counterparties or among the professional clients pursuant to the same Legislative Decree no. 58/98. The form to be filled in for any complaints to the CSSF can be downloaded from the website http://www.cssf.lu/en/consumer/complaints/ or from Consob website: http://www.consob.it/web/investor-education/l-invio-di-esposti
Some damages are excluded from ACF filing if they are not an immediate and direct consequence of the non-fulfilment of the Company’ obligations ; those which have not capital privileges and disputes that involve the request for sums of money for an amount greater than 500,000 euros.
The right to appeal to the ACF cannot exclude the possibility for the Client to appeal to other out-of-court resolution bodies included in the contracts. The Customer can contact the ACF provided that: i) he has previously submitted a complaint to the Company on the same facts to which an express response has been provided or more than 30 days have elapsed from its presentation without the Company has communicated to the Customer its own comments; ii) no more than one year has elapsed since the date of complaint submission to the Company; iii) other out-of-court dispute resolution procedures on the same facts are not pending; iv) the appeal is personally submitted by the Customer or through an association which represents the interests of consumers or by an attorney.
The possibility to appeal to the Court (judicial authority) remains unaffected. Before appealing to the Judicial Authority, even in the absence of prior complaint, the Customer and/or the Company must activate, as a condition of admissibility, a mediation procedure, - aiming to find an agreement - to “Organismo Conciliazione Bancaria” (Banking Conciliation Body) in accordance to art. 5 paragraph 1 bis Legislative Decree 4 March 2010 n. 28. For more information of the new Regulation, visit the website www.conciliatorebancario.it or other mediation bodies, specialized in banking and financial topics, which are registered in the appropriate Register kept by the Ministry of Justice.
Recourse to the ACF also fulfills the aforementioned condition of admissibility. The ACF has been operating since January 9, 2017.
For disputes regarding the placement and distribution of financial products issued by insurance companies - class III and V policies - (e.g.: incomplete information on the contracts while it has been placed, product not suitable according to the customer's risk profile, product life inconsistent with the life expectancy of the subscriber, etc.) the customer can contact the Arbiter for Financial Disputes (ACF) or access to other forms of out-of-court settlement of disputes. The competence of the Insurance Supervisory Institute (IVASS) remains valid for all other issues such as: calculation of returns; failure to report; settlement of policies.
Detailed information how to submit a written complaint to IVASS with the relative forms, are available on the website www.ivass.it. In the event that a dispute arises between the Customer and the Company relating to the placement and distribution of the Class I insurance policies, the Customer may lodge a complaint with the Company.
After submitting a complaint regarding insurance brokerage, if unsatisfied with the outcome or if 45 days have elapsed without a response from the Company, the customer can contact:
- IVASS - Institute for Insurance Supervision; how to submit a complaint to IVASS, and the related forms, are available on the website www.ivass.it.
- to another specialized body registered in the appropriate register kept by the Ministry of Justice. The list of mediation bodies is available on the website www.giustizia.it.