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THE CONCILIATION PROCEDURE FOR PARMALAT SHARES HAS BEEN EXTENDED TO CUSTOMERS OF THE FORMER SANPAOLO IMI GROUP 

  • More than 24,000 customers can submit applications from 7 April this year.  
  • The procedure is based on transparency and shared criteria already used with the customers of the former Banca Intesa

Roma, 20 February – A meeting was held today between the representatives of Intesa Sanpaolo and Consumers’ Associations.
During the meeting the Managing Director and the CEO of Intesa Sanpaolo Corrado Passera presented, to all the representative Consumers’ Associations at national level (*), a proposal to initiate a free Conciliation Procedure for the customers of the former Sanpaolo IMI who had bought Parmalat shares.

The initiative is based on the positive experience gained during recent years with the conciliation procedure carried out for former customers of Banca Intesa Group holding Parmalat bonds - this led to examination of 12,000 applications of which around 50% were reimbursed, with joint committees being established between the firm and the associations.

The extended procedure will cover around 24,000 customers of the former Sanpaolo IMI Group who had purchased Parmalat bonds now converted to Parmalat shares and warrants.  As from 7 April customers can apply for admission to the conciliation procedure.

This time again the evaluations will be carried out by 5 joint committees divided according to regional responsibilities with offices in Turin (North East and North West), Milan (Lombardy) and Rome (Centre and South). Each committee will consist of one representative of the associations and one from the bank.  They will examine applications received from customers, case by case. The committee will base their judgment on the transparency and shared criteria already used in the previous case (ability and experience with investments, consistency between the risk profile and the amount of the investment, the role played by the bank, ratings or lack of, information supplied).

In the proposal the Bank undertakes to communicate the initiative to all customers who may potentially have access to the conciliation and to make available the regulatory documents containing all information relating to access to the procedure through the Subsidiaries, the offices of the Consumers’ Associations and the Internet site of the Bank
 www.intesasanpaolo.com.

(*) Consumers’Associations:
Acu, Adiconsum, Adoc, Adusbef, Altroconsumo, Assoutenti, Casa del Consumatore, Centro Tutela Consumatori Utenti, Cittadinanzattiva, Codacons, Codici, Confconsumatori, Federconsumatori, Lega Consumatori, Movimento Consumatori, Movimento Difesa del Cittadino, Unione Nazionale Consumatori.

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