COMPLAINTS

In case a dispute arises between the Client and the Company regarding financial products and services or investment and/or ancillary services, the Client may submit a complaint to the Company.
The complaint may be submitted by registered letter with return receipt or electronically, including through PEC, addressed to:
Valori Asset Management SA

Boulevard Joseph II 43, L-1840 – Lussemburgo
Email: carlo.tutucci@valam.lu

The Company must respond within 30 days of receipt.

If a dispute arises between the Client and the Company relating to or otherwise connected with the provision of investment services and activities, before taking the matter to the Judicial Authority, the Client has the option of using the dispute resolution tools set forth below.
The Client may turn free of charge to the Arbitrator for Financial Disputes (ACF) for the resolution of disputes that have arisen with the Company in relation to the obligations of diligence, fairness, information and transparency 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 covered by EU Regulation No. 524/2013), and with reference to the Luxembourg regulatory framework, please refer to CSSF Circular 17/671 and CSSF Regulation 16-07 (Luxembourg Supervisory Commission) provided that the Client is not among investors classified as eligible counterparties or among professional clients under the same Legislative Decree No. 58/98. The form to be completed for any complaints to the CSSF can be downloaded from www.cssf.lu or from Consob’s website: www.consob.it

Excluded from the ACF’s cognizance are damages that are not an immediate and direct consequence of the Company’s breach or violation of the obligations referred to in the preceding paragraph, those that are not pecuniary in nature, and disputes involving claims for sums of money exceeding 500,000 euros.

The right of recourse to the ACF cannot be waived by the Client and is always exercisable, even in the presence of clauses on the devolution of disputes to other out-of-court settlement bodies contained in contracts.

The Client may appeal to the ACF provided that: (i) he/she has previously submitted a complaint on the same facts to the Company to which an express response has been provided, or more than 30 days have elapsed since its submission without the Company informing the Client of its determinations; (ii) no more than one year has elapsed since the date of submission of the complaint to the SIM, or, if the complaint was submitted prior to the date of commencement of the operation of the ACF, within one year from that date iii) no other out-of-court dispute resolution procedures on the same facts are pending, including at the initiative of the Company to which the Customer has joined; iv) the complaint is brought personally by the Customer or through an association representing consumer interests or attorney.
The possibility of recourse to the Judicial Authority remains unaffected.

In order to settle any disputes out of court, before resorting to the Judicial Authority, even in the absence of a prior complaint, the Client and/or the Company must activate, as a condition of procedability, a mediation procedure, – aimed at attempting to find an agreement – by resorting, pursuant to Article 5 paragraph 1 bis Legislative Decree No. 28 of March 4, 2010, to the Banking Conciliation Body established by the Conciliatore Bancario Finanziario – Association for the resolution of banking, financial and corporate disputes – ADR. More information can be found at www.conciliatorebancario.it where the relevant Regulations are available or at one of the other Mediation Bodies, specialized in banking and financial matters, registered in the appropriate Register of Bodies kept by the Ministry of Justice.

Recourse to the ACF also fulfills the procedural condition mentioned above.
The ACF has been operational since January 9, 2017.
More information about ACF can be found at
http://www.cssf.lu/en/consumer/complaints/
https://www.acf.consob.it/