Employees and consultants of intermediaries supervised by the Bank of Italy or other individuals can report regulatory violations or management misconduct by following a few simple rules.
Internal whistleblowing
Employees or consultants of a bank or other intermediary supervised by the Bank of Italy can use the whistleblowing channel to report possible regulatory violations or management misconduct in such organizations. The Bank of Italy guarantees the confidentiality of the whistleblower's personal data, also to protect them from any possible reprisals, according to the applicable privacy laws (Article 52-ter of the Consolidated Law on Banking (TUB), Article 4-duodecies of the Consolidated on Finance (TUF) and Law 179/2017).
External whistleblowing
Individuals who are not employees or consultants of intermediaries supervised by the Bank of Italy can also report possible regulatory violations or alleged management misconduct within these organizations. The information provided is processed by the Bank of Italy in such a way as to guarantee the privacy of the reporting party.
Please note
Internal and external whistleblowing are not the right channels for reporting facts or disputes concerning the employment relationship of the reporting party with the intermediary or issues of a business nature (see 'Useful information').
How to send a report to the Bank of Italy
An internal whistleblowing report can be sent:
- using the 'Online services' platform; select the 'Send a report' box;
- by regular mail; send the 'Whistleblowing report' form to Banca d'Italia, Via Nazionale 91 - 00184 Roma, for the attention of the Directorate General for Financial Supervision and Regulation - Supervisory Institutional Relations Directorate - External Relations Support Division (the envelope must be marked 'Confidential').
An external whistleblowing report can be sent:
- by using the 'Online services' platform; select the 'Send a report' box;
- by regular mail; send the 'Whistleblowing report' form to Banca d'Italia, Via Nazionale 91 - 00184 Roma.
What the Bank of Italy does when it receives a report
The Bank of Italy draws information from these reports that is useful for its supervisory functions and, where necessary, activates the appropriate supervisory tools in coordination with the European Central Bank when a 'significant' bank is involved.
The Bank of Italy does not usually respond to the reports it receives, but it reserves the right to contact the reporting party if it needs further information or clarification.
The Bank of Italy cannot divulge the results of its investigations or any initiatives adopted following reports concerning supervised intermediaries, in line with its professional secrecy obligations, which cover all data and any information acquired in the course of its supervisory activities (Article 7 of the Consolidated Law on Banking).
It is useful to know that
Internal and external whistleblowing reports are important tools for improving supervisory activities. Customers wishing to complain about their business relationship with an intermediary can use different tools, specifically designed to protect users of banking and financial services, such as customer complaint procedures and recourse to the Banking and Financial Ombudsman (ABF). To find out about these two options, please click here.
To summarize
If you are an employee or consultant of a financial intermediary supervised by the Bank of Italy and you want to report regulatory violations and/or managerial misconduct,
you can submit an internal whistleblowing report:
- by using the 'Online services' platform; select the 'Send a report' box;
- by regular mail; send the 'Whistleblowing report' form to: Banca d'Italia, Via Nazionale 91 - 00184 Roma, for the attention of the Directorate General Financial Supervision and Regulation - Supervisory Institutional Relations Directorate - External Relations Support Division (the envelope must be marked 'Confidential'.
If you are another party (not an employee or consultant) and you want to report regulatory violations and/or management misconduct involving a bank or financial intermediary supervised by the Bank of Italy,
you can submit an external whistleblowing report
- by using the 'Online services' platform; select the 'Send a report' box;
- by regular mail, sending the 'Whistleblowing report' form to the Bank of Italy, Via Nazionale, 91 - 00184 Rome.
If you are a customer of a bank or financial intermediary supervise by the Bank of Italy and you want to report problems in your business relationship with that bank or intermediary,
you can
Appeal to the Banking and Financial Ombudsman
Submitting complaints