With resolution no. 19602 of 4 May 2016, CONSOB instituted the Arbiter for Financial Controversies (hereinafter “Arbitrer”) and adopted the regulation implementing Article2.5-bis and 2.5ter of Legislative Decree no. 1791 of 8 October 2007, which establishes the procedure for the extrajudicial resolution of controversies through the Arbiter and specifies the criteria for the composition of the arbitral panel (hereinafter “the Regulation”).
The Resolution also attributes to CONSOB the task of adopting measures for implementing the Regulation, governing the organization and functioning of the Arbiter and determining the date it becomes effective and also lays down transitional and final provisions to permit “replacement” of the Chamber of Conciliation and Arbitration with Arbiter.
For additional information and details, please visit the Arbiter website: www.acf.consob.it