Regulations on the transparency of bank and financial transactions

Transparency regulations

Regulations on the transparency of financial transactions and services envisage clearly informing the Customer of the basic elements of the contract drawn up with a financial broker as well as any changes made during the life of the said contract, thus facilitating competition in the financial market.
The provisions issued by the Bank of Italy envisage:
 
publicising rates, prices, contractual conditions and means of protection envisaged for Customers;
 

• requirements regarding the form and content of contracts;
• the protection of Customers in the event of an unfavourable change in contractual conditions and periodic communications to be sent to Customers containing adequate information on the contract;

 
Bank of Italy regulations
 
The means by which contractual conditions and transactions/services can be publicised are:

• Notices of principal transparency regulations;
• Information sheets:

a) Real estate_January 2009  
b) Consumer goods_January 2009   
c) Nautical_January 2009   
d) Loans with mortgage_January 2009   
e) Loans without mortgage_January 2009  
f) Capital goods_January 2009  
g) Aircraft_January 2009  
h) Furniture_Art_January 2009   
i) nterest rates from 1 January to 31 March 2009
 

Periodic communications

Transparency Regulations envisage that financial brokers send Customers written communications, on expiry of the contract and at least once a year, to provide detailed information on the existing contract and an updated statement of the applicable conditions. 
This periodic communication comprises a statement and a summary document illustrating contractual conditions.

UniCredit Leasing has promptly revised its internal procedures in order to provide Customers with the periodic communication as envisaged by current regulations: Customers with contracts signed prior to 1 October 2003, will receive the statement only, while Customers with contracts signed after said date will receive both the statement and the summary document.
 
UniCredit Leasing has set up an on-line service where its Customers can consult Periodic Communications, which can be accessed from the Reserved Area.
For further information, please send an e-mail to trasparenza@unicreditleasing.eu