Interview with Mr Marco Pasini, President of UNIREC (Italian Debt Collection Agencies Association) and with Scholar Giuseppe Roddi
Mr Pasini, according to you, which are the main changes in the debt collection market in Italy resulting from the Reform of Register pursuant to article 106?
M.P. In fact nothing is changing at allgiven that- as it was before-third party debt collection has to be performed exclusively by agencies licensed ex art. 115. In addition to this, I would like also to emphasize that debt collection agencies can legitimately perform sub-servicing
activities, in the framework of securitisation transactions, on the behalf of a master servicer (which will have to comply with all the supervisory and anti-money laundering regulations required in the legislation).
Mr Roddi, could you please explain which is the current regulatory framework, even in the light of the Reform of register pursuant to article 106?
G.R. As President Marco Pasini said, in Italy, third party debt collection activity has to be performed by agencies operating according to the authorization and under the control (prior and subsequent) of the Minister of Interior by means of local police headquarters which
are entitled to grant them the proper licence in accordance with art.115 of the Italian Consolidated Law on Public Security (TULPS).
Regarding financial intermediaries, the recent Circular No. 288, title I, chapter 3, section III of Bank of Italy- Bank of Italys Supervisory Instructions for financial intermediaries-that it is not addressed to debt collection agencies, provides that, in addition to the activity
reserved to them and for which is required a proper licence, entities entering in the register pursuant to article 106 , are authorised to perform instrumental and accessory activities connected with their core business (this principle applies also to banks).
Amongst these connected activities, if set by the objects of the company, there is also debt collection. By the way this activity is potential and optional if compared to the prevalent financial activity.
The Decree of the Minister of Economy and Finance No. 53 of 2 April 2015, Regulation with rules for financial intermediaries makes clear the distinction between the financial activities, subject to supervision, and other activities, such as the debt collection.
All in all, the analysis of the Italian legal system does not reveal any obligation for banks and financial intermediaries to assign the servicing activity only to entities entering in the new register ex art. 106 TUB.
Mr Roddi, the recent decree of the Minister of Economy and Finance No. 53-that you mentioned above- making a clear distinction between financial companies (106 TUB) and sub servicers (115 TULPS) broadens the activities performed by these latter ones and extends their scope also to the debt buying. Is it correct?
G.R. Its correct. The above-mentioned decree of the Minister of Economy and Finance No. 53 of 2 April 2015 Regulation with rules for financial intermediaries fulfilling art. 106 clause 3, art. 112 clause 3, and article 114 of the legislative decree No.385 of the 1 September 1993, and art. 7-ter clause 1-bis of the law No.130 of the 30 April 1999 created new business opportunities for debt collection agencies, under specific assets requirements.
In particular, art. 2 clause 3, letter b) of this ministerial decree, points out that debt buying activity-performed by debt collection agencies- in presence of specific conditions, does not represent loans granting activity, hence this form of debt buying is not a financial activity,
it is not an exclusive activity and entities performing it, in this case those entering in the register pursuant to article 115 TULPS, are not required to enter the register pursuant to article 106 TUB.
Mr Pasini, UNIREC, since its beginning, is a synonymous for best practice, professionalism and ethics. For this reason
UNIREC since 2004 has been concluding agreements with Consumers Associations.
Could you please explain which tools are used by UNIREC to ensure its commitment?
M.P. First of all, requests for admission to the Association are accepted only after a rigorously and attentive assessment.
Board of Arbitrators verifies both the maintenance of the required professionalism and integrity for members, either new or old ones.
In addition to this, UNIREC has among its principal objectives the dissemination of best practice in the industry, with the aim to promote high performances of provided services, the respect of the Consumers/Debtors and a proper image of the Client.
All the members are committed to observe the Regulations adopted by UNIREC, in particular the Code of Conduct subscribed by the FORUM UNIREC-CONSUMATORI.
Actually, this document provides debt collection agencies with clear, recognised and shared rules such as: telephone contact between officers of the Professional company and Consumers/ Debtors, postal or electronic communication, meetings between the Home
service representatives and Consumers/ Debtors, the which normally take place at the Consumers residence.
In addition to this, in 2014, the FORUM UNIREC-CONSUMATORI drew up the Protocol for Joint Settlement Procedures: an innovative system to settle with extra judicial procedure any disputes arising between the Professionals and the Consumers/ Debtor.
Finally, in order to promote the spreading and the knowledge of proper rules and procedures regulating the sector, we recently presented the 2016 training program for debt collection agencies: thanks to the partnership established with the University Unitelma La Sapienza
and through the use of advanced information technology such as the e-learning, our members will have the opportunity to develop and improve their professional skills.
Mr Pasini entities entering in the register pursuant to article 115 TULPS which are members of UNIREC, are not supervised by Bank of Italy but by the Minister of Interior, implemented by local police headquarters. UNIREC members have to report to local police headquarters also for getting their authorisation before employing new phone collection and home collection
operators. In addition to this, to become a member of UNIREC and to maintain the membership, they have to comply with strict requirements, to observe a Code of Conduct and to perform best practice.
Furthermore with UNIREC, debt collection agencies can have a structured dialogue with Consumers Associations and Regulation Authorities. Is it correct?
M.P. I confirm, this is correct
Autore: Credit Village Magazine Newsroom
Fonte:
Credit Village Magazine n°1
register persuant to article 106 – italian debt collection agencies association – debt collection – reform
Interview with Mr Marco Pasini, President of UNIREC (Italian Debt Collection Agencies Association) and with Scholar Giuseppe Roddi
Mr Pasini, according to you, which are the main changes in the debt collection market in Italy resulting from the Reform of Register pursuant to article 106?
M.P. In fact nothing is changing at allgiven that- as it was before-third party debt collection has to be performed exclusively by agencies licensed ex art. 115. In addition to this, I would like also to emphasize that debt collection agencies can legitimately perform sub-servicing
activities, in the framework of securitisation transactions, on the behalf of a master servicer (which will have to comply with all the supervisory and anti-money laundering regulations required in the legislation).
Mr Roddi, could you please explain which is the current regulatory framework, even in the light of the Reform of register pursuant to article 106?
G.R. As President Marco Pasini said, in Italy, third party debt collection activity has to be performed by agencies operating according to the authorization and under the control (prior and subsequent) of the Minister of Interior by means of local police headquarters which
are entitled to grant them the proper licence in accordance with art.115 of the Italian Consolidated Law on Public Security (TULPS).
Regarding financial intermediaries, the recent Circular No. 288, title I, chapter 3, section III of Bank of Italy- Bank of Italys Supervisory Instructions for financial intermediaries-that it is not addressed to debt collection agencies, provides that, in addition to the activity
reserved to them and for which is required a proper licence, entities entering in the register pursuant to article 106 , are authorised to perform instrumental and accessory activities connected with their core business (this principle applies also to banks).
Amongst these connected activities, if set by the objects of the company, there is also debt collection. By the way this activity is potential and optional if compared to the prevalent financial activity.
The Decree of the Minister of Economy and Finance No. 53 of 2 April 2015, Regulation with rules for financial intermediaries makes clear the distinction between the financial activities, subject to supervision, and other activities, such as the debt collection.
All in all, the analysis of the Italian legal system does not reveal any obligation for banks and financial intermediaries to assign the servicing activity only to entities entering in the new register ex art. 106 TUB.
Mr Roddi, the recent decree of the Minister of Economy and Finance No. 53-that you mentioned above- making a clear distinction between financial companies (106 TUB) and sub servicers (115 TULPS) broadens the activities performed by these latter ones and extends their scope also to the debt buying. Is it correct?
G.R. Its correct. The above-mentioned decree of the Minister of Economy and Finance No. 53 of 2 April 2015 Regulation with rules for financial intermediaries fulfilling art. 106 clause 3, art. 112 clause 3, and article 114 of the legislative decree No.385 of the 1 September 1993, and art. 7-ter clause 1-bis of the law No.130 of the 30 April 1999 created new business opportunities for debt collection agencies, under specific assets requirements.
In particular, art. 2 clause 3, letter b) of this ministerial decree, points out that debt buying activity-performed by debt collection agencies- in presence of specific conditions, does not represent loans granting activity, hence this form of debt buying is not a financial activity,
it is not an exclusive activity and entities performing it, in this case those entering in the register pursuant to article 115 TULPS, are not required to enter the register pursuant to article 106 TUB.
Mr Pasini, UNIREC, since its beginning, is a synonymous for best practice, professionalism and ethics. For this reason
UNIREC since 2004 has been concluding agreements with Consumers Associations.
Could you please explain which tools are used by UNIREC to ensure its commitment?
M.P. First of all, requests for admission to the Association are accepted only after a rigorously and attentive assessment.
Board of Arbitrators verifies both the maintenance of the required professionalism and integrity for members, either new or old ones.
In addition to this, UNIREC has among its principal objectives the dissemination of best practice in the industry, with the aim to promote high performances of provided services, the respect of the Consumers/Debtors and a proper image of the Client.
All the members are committed to observe the Regulations adopted by UNIREC, in particular the Code of Conduct subscribed by the FORUM UNIREC-CONSUMATORI.
Actually, this document provides debt collection agencies with clear, recognised and shared rules such as: telephone contact between officers of the Professional company and Consumers/ Debtors, postal or electronic communication, meetings between the Home
service representatives and Consumers/ Debtors, the which normally take place at the Consumers residence.
In addition to this, in 2014, the FORUM UNIREC-CONSUMATORI drew up the Protocol for Joint Settlement Procedures: an innovative system to settle with extra judicial procedure any disputes arising between the Professionals and the Consumers/ Debtor.
Finally, in order to promote the spreading and the knowledge of proper rules and procedures regulating the sector, we recently presented the 2016 training program for debt collection agencies: thanks to the partnership established with the University Unitelma La Sapienza
and through the use of advanced information technology such as the e-learning, our members will have the opportunity to develop and improve their professional skills.
Mr Pasini entities entering in the register pursuant to article 115 TULPS which are members of UNIREC, are not supervised by Bank of Italy but by the Minister of Interior, implemented by local police headquarters. UNIREC members have to report to local police headquarters also for getting their authorisation before employing new phone collection and home collection
operators. In addition to this, to become a member of UNIREC and to maintain the membership, they have to comply with strict requirements, to observe a Code of Conduct and to perform best practice.
Furthermore with UNIREC, debt collection agencies can have a structured dialogue with Consumers Associations and Regulation Authorities. Is it correct?
M.P. I confirm, this is correct
Autore: Credit Village Magazine Newsroom
Fonte:
Credit Village Magazine n°1
register persuant to article 106 – italian debt collection agencies association – debt collection – reform