Article 1, paragraph 343, of the 2006 Finance Act (no. 266 of 23 December 2005) established, at the MEF, from 2006, a special Fund to compensate investors who, victims of financial frauds, suffered unjust damages, and would otherwise not be compensated.
The Fund is nourished with amounts coming from dormant current accounts and bank accounts within the banking, insurance, and financial systems (article 1, paragraph 345, of the 2006 Finance Act), as well as from amounts of uncashed banker's drafts, expired life insurances and uncollected interest bearing post office notes (article 1, paragraphs 345-ter, 345-quater, 345-quinquies, of the 2006 Finance Act).
The subsequent Implementation Regulation, issued with the Decree of the President of the Republic (DPR) no. 116 of 22 June 2007, defined the methods to identify the above mentioned accounts and relationships. Moreover, newsletters were sent with operating instructions for payments by brokers and ways to compensate amounts paid to the mentioned Fund.
The Instructions and the Newsletter of 3 November 2010 established the compensation methods of the sums paid to the Fund for the holders of deposits, banker's drafts, life insurance contracts, and non-expired interest bearing post office notes.
The Newsletter of 3 March 2011, completed by the Newsletter of 2 March 2012 and by the following Newsletter of 6 June 2014, provided new instructions on how financial brokers should fulfil communication obligations regarding dormant accounts. The first newsletter annexed the record layout to be used to communicate Dormant Accounts.
The Newsletter of 25 October 2011, aimed at the brokers mentioned in article 1, letter a) of DPR no. 116/2007, listed the criteria to be applied with regards to the cost of publishing the data regarding dormant accounts in national newspapers.
Compensation requests are to be addressed to: Consap S.p.A.- Re. Dormant Accounts - Via Yser, 14 - 00198 Rome; or sent via email to firstname.lastname@example.org
Call centre: 06/85796444 (operating on business days from Monday to Thursday from 9 am to 5 pm and on Fridays from 9 am to 1 pm).