Adiconsum Sardegna filed an «ad opponendum» intervention with the Lazio Regional Administrative Court against the appeal filed by Poste Italiane asking for the annulment of the 1.4 million euro fine imposed by the Antitrust for the matter relating to the prescription of postal savings bonds . The authority had recognized the misleading nature of the information provided to investors regarding the expiry and limitation periods of the securities.
"Poste Italiane wants to place itself above the law and with its appeal to the TAR in which it requests the annulment of the Antitrust sanction, claims that it is not subject to compliance with the Consumer Code, but not only - explained the president Giorgio Vargiu - . The company's thesis is also that savers are not consumers , and therefore cannot enjoy the protections provided by the Code. Circumstance that would render the Authority's sanctioning measure illegitimate».
Adiconsum Sardegna then filed a formal intervention with the Tar to ask the judges to reject the requests of Poste Italiane. "By placing securities to small savers, Poste Italiane is to all intents and purposes an intermediary company in the distribution of banking products that exploits its widespread territorial presence and the trust it has acquired with consumers to sell financial instruments - added the president of the association -. Activity that must be carried out in full compliance with the principles of correctness, transparency and competition established by the Consumer Code, rules to which Poste Italiane is subject also in consideration of the fact that the abundant jurisprudence of the Arbitrator for banking disputes of the Bank of Italy and Consob equates the figure of the investor/saver to that of the consumer, with the consequence that in the event of violations and irregularities in terms of savings and investments, the Consumer Code also finds full application".
(Unioneonline/F)