In compliance with the provisions of art. 36 of the OAM Internal Regulations, the Management Committee may dictate provisions aimed at implementing, clarifying or specifying the provisions of the Regulations themselves with regard to the organization, functions and activities carried out, as well as the financial management of the OAM. The Management Committee may also approve circulars regarding the matters attributed to the OAM's competence by laws or regulations.
The OAM circulars are listed below:
OAM: SET AT 8.300 EURO THE ONE-OFF CONTRIBUTION TO BE PAID BY OPERATORS IN VIRTUAL CURRENCIES WHO ARE LEGAL PERSONS FOR REGISTRATION IN THE RELEVANT REGISTER, 500 EURO FOR NATURAL PERSONS
As foreseen in the regulations, variable annual dues will subsequently be set according to the size of the members
A one-off contribution equal to 8.300 euro for legal persons and 500 euro for natural persons: this is what operators in virtual currencies who enrol in the relevant Register will have to pay. This has been decided by the Management Committee of the Organism which, with a circular, has determined the amount to be requested exclusively on the basis of covering the costs for the implementation of the management system of the Register.
A variable annual fee will then be established in consideration of the operational size of the members, to cover the recurring costs of the OAM structure, relating to the maintenance of the Register of operators in virtual currencies and the management and maintenance of the IT System for the transmission of data by the members themselves. As required by law, the revenues of the Body, which does not receive any contribution from the State, are made up of contributions from the categories enrolled in the Lists and Registers, strictly related to the activities specifically carried out for each category.
The circular, which retraces the rules laid down in the Decree of the Ministry of Economy and Finance of 13 January, recalls that registration in the special section of the Register of Currency Exchangers (providers of services relating to the use of virtual currency and / or digital wallet) is a prerequisite for operators to legally carry out their activities, including online, in Italy.
The same circular informs that the subjects interested in the registration in the special section of the Register must proceed, in advance, to register in the dedicated private area of the OAM portal, providing themselves with a certified electronic mail (PEC) and following the instructions indicated in the Operational Guide, already published on the OAM website. The registration will have to be carried out once the Register will be made available by 18 May. The circular recalls that the operators who already carry out the activity, also online, on the territory of the Republic, will have to provide for the registration within sixty days from its launch.
OAM: 2020 CONTRIBUTIONS SET. UNCHANGED FEES FOR OAM MEMBERS.
The registration fees for the Lists and Registers managed by the OAM (Body of Agents and Credit Brokers) remain unchanged. This has been established by the Management Committee of the Body, with two separate circulars which set 28 February 2020 as the date by which the relative payments must be made.
All those affected by the circulars who pay the contribution at the time of submission of the application for registration are not entitled to reimbursement in case of rejection or waiver of the application itself. Similarly, the contribution will not be refunded in the event of cancellation, even if made at the request of a party.
Financial agents; Financial agents providing exclusively payment services; Credit brokers
The circular clarifies that those subjects who indicate in the lists the wording "not authorized to operate" are also required to pay.
The contributions, both fixed and variable (the latter to be paid by Credit brokers and financial agents joint-stock companies), must be paid by those who will submit an application for registration starting from 1st January 2020 and by those who are registered in the lists as of 31st December 2019. On the other hand, those who were enrolled in the Directories after November 1, 2019 (having made the relative payments) or who present an application for cancellation from the Directories by February 28, 2020 will not have to pay anything.
Also for the coming year for Credit brokers and for Agents in financial activity limited companies it is foreseen, in addition to the payment of the fixed contribution, the payment of a variable contribution for each employee and collaborator that the member uses during the year 2020 for contact with the public. If during the year 2020 an employee or collaborator establishes a relationship with another person enrolled in the lists, the latter must communicate this to the Body and pay the relative variable contribution. On the other hand, the variable contribution does not have to be paid if the employee and/or collaborator was communicated to the Body after November 1, 2019 (paying the relative variable contribution) or if, by February 28, 2020, the Body is notified of the termination of the relationship.
OAM: 2020 CONTRIBUTIONS FIXED. UNCHANGED FEES FOR OAM MEMBERS.
The registration fees for the Lists and Registers managed by the OAM (Body of Agents and Credit Brokers) remain unchanged. This has been established by the Management Committee of the Body, with two separate circulars which set 28 February 2020 as the date by which the relative payments must be made.
All those affected by the circulars who pay the contribution at the time of submission of the application for registration are not entitled to reimbursement in case of rejection or waiver of the application itself. Similarly, the contribution will not be refunded in the event of cancellation, even if made at the request of a party.
Agents in financial activities; Agents in financial activities that provide exclusively payment services; Credit brokers
The circular clarifies that those subjects who indicate in the lists the wording "not authorized to operate" are also required to pay.
The contributions, both fixed and variable (the latter to be paid by Credit brokers and financial agents joint-stock companies), must be paid by those who will submit an application for registration starting from 1st January 2020 and by those who are registered in the lists as of 31st December 2019. On the other hand, those who were enrolled in the Directories after November 1, 2019 (having made the relative payments) or who present an application for cancellation from the Directories by February 28, 2020 will not have to pay anything.
Also for the coming year for Credit brokers and for Agents in financial activity limited companies it is foreseen, in addition to the payment of the fixed contribution, the payment of a variable contribution for each employee and collaborator that the member uses during the year 2020 for contact with the public. If during the year 2020 an employee or collaborator establishes a relationship with another person enrolled in the lists, the latter must communicate this to the Body and pay the relative variable contribution. On the other hand, the variable contribution does not have to be paid if the employee and/or collaborator was communicated to the Body after November 1, 2019 (paying the relative variable contribution) or if, by February 28, 2020, the Body is notified of the termination of the relationship.
2019 DUES SET FOR GOLD BUYERS REGISTERED AS OF DECEMBER 31, 2018. THE FEES MUST BE PAID FROM JULY 15 AND BY SEPTEMBER 30
Those who must enroll must instead pay the first registration fee already provided by Circular No. 30/18
Compro oro (gold buyers) enrolled in the OAM Register on December 31, 2018 will have to pay, starting next July 15 and by September 30 of this year, the fees for the second semester of 2019.
This is established by an OAM Circular that has set the contribution for 2019 confirming the criteria for determining the contribution itself: fixed fee, differentiated according to the legal nature of the operator and the exclusivity or otherwise of the activity, and variable fee related to the number of operating sites.
Those registered on December 31, 2018 who have submitted to the OAM a request for cancellation by June 30, 2019, or for whom a cancellation procedure is in progress on the same date, will not have to pay the contribution. Similarly, the variable contribution will not have to be paid for the operating office/point of sale for which a request for data variation due to closure of the same has been submitted within this deadline.
Regardless of the payment of the 2019 contribution, the operator who transfers or opens new operating offices must communicate the change and pay the relative variable fee of 70 euros provided for by Circular no. 30. The transfer of the only operating headquarters is exempt from payment.
If the secondary activity becomes prevalent it must be communicated to the OAM and the difference of 20 euros must be paid.
Operators who will be enrolled for the first time in 2019 will instead have to pay the contribution for the first registration provided for by OAM Circular No. 30; therefore, gold buyers who are enrolled between January 1, 2019 and June 16, 2019 are not required to pay further contributions for the current year, except for any changes in the operating site/point of sale or the transformation of the activity from secondary to prevalent according to the provisions of Circular No. 30/18 (https://www.organismo-am.it/documenti/Circolari/Circolare_n_30.pdf).
The contribution for the years following 2019 will also be determined by the Body in relation to the total number of members and in proportion to their size.
OAM LEAVES REGISTRATION FEES UNCHANGED FOR 2019.
THEY WILL BE PAID BY FEBRUARY 28 OF NEXT YEAR
OAM registration fees are unchanged for Agents, Credit Brokers and Moneychangers in 2019: this has been decided by the OAM which, after the reduction deliberated for 2018, has confirmed at the same level the contributions to be paid by 28 February next year. For those not yet enrolled, the contributions will instead be paid at the time of submission of the application for registration.
The circular clarifies that the contributions will also have to be paid by those registered but temporarily not authorized to operate, while those who have been registered in the lists after November 1, 2018 will be exempt from payment, making the relative payments, and those who present an application for cancellation from the lists by February 28, 2019.
With the same circular, the Body set the registration fees for the Register of Moneychangers, which are also unchanged from 2018.
GOLD BUYERS: THE REGISTER OF OPERATORS IS OPERATIVE FROM 3 SEPTEMBER. OAM ESTABLISHES THE CONTRIBUTION FOR REGISTRATION PROVIDED FOR BY THE ANTI-MONEY LAUNDERING LAW
An amount proportionate to the size and legal nature of the operator
The Register of Gold Buyers will be operational from 3 September next: this is communicated by the OAM, the Body of Agents in Financial Activity and Credit Brokers, which has decided with Circular No. 30/18 the size of the contribution, required by law, which must be paid by operators for registration in the Register.
Circular No. 29/17 - containing provisions relating to the payment of contributions and other sums due for the year 2018 by members and applicants for registration in the Lists and Register managed by the OAM. Please pay the utmost attention to the IBAN codes of the bank accounts in the name of the OAM for the payment of contributions and other sums due, as contained in this notice.
Circular n. 28/16 - containing provisions regarding the payment of contributions and other amounts due for the year 2017 by members and applicants for registration in the Lists and Register managed by the OAM.
Circular No. 27/16 - containing the identification of the terms and organizational units responsible for the procedures within the competence of the Body for the management of the lists of agents in financial activities and credit brokers and for the maintenance of the register of money changers, approved by resolution of July 28, 2016.
Circular no. 26/15 - containing provisions relating to the payment of contributions and other sums due for the year 2016 by members and applicants for registration in the lists of agents in financial activities and credit brokers and in the special section of the list of agents in financial activities.
Circular n. 25/15 - containing provisions relating to the payment of contributions and other sums due by subjects exercising the activity of money changers.
Circular no. 24/15 - containing provisions relating to the procedures for transmitting information to the OAM as well as the contributions and other sums due by persons engaged in the activity of money changers in accordance with art. 17-bis of Legislative Decree no. 141 of 13 August 2010.
Circular no. 23/15 - containing provisions relating to the procedures for verifying the fulfilment of the conditions set out in articles 128-quinquies, paragraph 1-bis and 128-septies, paragraph 1-ter, of Legislative Decree no. 385 of 1 September 1993, pursuant to article 16, paragraph 1, of Legislative Decree no. 141 of 13 August 2010.
Circular 22/15 updated and amended on 25/05/2016 - containing provisions relating to the assessment test pursuant to art. 128-novies, paragraph 1, of Legislative Decree no. 385 of September 1, 1993.
Circular No. 21/14 - containing provisions relating to the payment of contributions and other sums due for the year 2015 by members and applicants for registration in the Lists.
Circular n. 20/14 - containing provisions relating to the obligations of training and professional updating for financial agents who provide exclusively payment services.
Circular n. 19/14 updated and amended as of 30/10/2019 - containing provisions relating to the obligations of training and professional updating for financial agents and credit brokers.
Circular no. 18/14 - containing application provisions pursuant to art. 128-quater, paragraph 7 of Legislative Decree no. 385 of 1 September 1993 and art. 20, paragraph 1-bis, of Legislative Decree no. 141 of 13 August 2010 (relating to agents who provide payment services in the territory of the Italian Republic on behalf of electronic money institutions or EU payment institutions).
Circular no. 17/14 - containing application provisions pursuant to Ministry of Economy and Finance Decree no. 31 of 22 January 2014 (organizational requirements for registration in the list of credit brokers).
Circular No. 16/13 - containing provisions regarding the payment of contributions and other sums due for the year 2014 by members and applicants for registration in the Lists.
Circular n. 13/13 - Procedures and modalities of operation of the List management system pursuant to article 13 of the OAM Regulations.
Circular n. 12/13 containing provisions relating to the obligations of training and professional updating for agents in financial activities who provide exclusively payment services.
Circular no. 11/13 containing provisions relating to the payment of contributions for registration in the special section of the list of agents in financial activities by agents who provide exclusively payment services.
Circular n. 10/13 containing provisions relating to the continuation of the activity of financial agency and credit mediation by persons without a five-year high school diploma.
Circular n. 9/12 - Provisions regarding the registration of subjects enrolled in the Register of Financial Advisors in the List of Financial Activity Agents.
Circular n. 8/12 - Provisions regarding the payment of registration contributions by Financial Advisors, Insurance Agents, Insurance Brokers and Financial Consultants.
Circular n. 7/12 - Provisions regarding the payment of registration fees for the lists of financial agents and credit brokers for the year 2013.
Circular n. 6/12 - Provisions regarding obligations of professional updating for financial agents and credit brokers.
Circular n. 5/12 - Contents and modalities of carrying out the Assessment Test for employees and collaborators whose agents and brokers use for contact with the public.
Circular n. 4/12 - Criteria for verifying the adequacy of professional experience gained regarding the transitional regime and exemption from the examination.
Circular n. 3/12 - Products and services for which it is possible to receive mandates.
Circular no. 2/12 - Fees for registration in the lists, for the year 2012, for Agents in Financial Activities and Credit Brokers.
Circular n. 1/12 - Ceilings of the insurance policy for civil responsibility for damages caused in the exercise of the activity.