Supervisory instructions of the Bank of Italy for financial intermediaries: Circular No. 288 of 3rd April 2015

Supervisory instructions of the Bank of Italy for financial intermediaries: Circular No. 288 of 3rd April 2015

The TUB Code provides that the public exercise of the granting of loans under any form is restricted to only authorized financial intermediaries, registered in a special registry held by the Bank of Italy ("financial intermediaries"). These present provisions regulate: I) the conditions and procedures of the authorisation to perform the activity of granting loans or the collection of transferred loans or cash and payment services as part of securitisation transactions (so-called servicing) (1); II) cases of forfeiture and revocation of the same authorisation; III) authorisation to provide investment services by financial intermediaries.

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