Credit brokers may avail themselves of employees and collaborators to carry out their activity with the public (cf. art. 128-novies of the TUB).
These employees and collaborators are only natural persons and cannot carry out their activity at the same time in favour of more than one registered subject (see art. 128-octies, paragraph 2, of the TUB).
Credit brokers send to the OAM a list of their employees and collaborators.

These individuals must be in possession of the requirements of integrity and professionalism indicated in art. 128-septies, paragraph 1, letters d) and e), of the TUB (Consolidated Banking Act), with the exception of having passed the appropriate examination.

 

PROFESSIONAL REQUIREMENTS

• educational qualification not inferior to the upper secondary education diploma, issued following a five-year or four-year course, supplemented by the annual course provided for by law, or a foreign educational qualification deemed equivalent for all legal purposes (it should be noted that with Circular no. 10/13 the OAM has provided for and introduced the provisions relating to the continuation of the activity of financial agency and credit brokerage by persons enrolled in the previous lists kept by the Bank of Italy and lacking a five-year high school diploma);
• attendance of a professional training course in the relevant subjects in the exercise of financial agency activities.

 

Employees and collaborators of credit brokers do not have to pass the examination. They are, however, required to pass an assessment test (unless exempted as a result of the transitional regime, see below) whose contents are set out in OAM Circular no. 5/12.

 

Credit brokers are jointly and severally liable for damages caused in the exercise of their activity by the employees and collaborators they employ, also in relation to criminally sanctioned conduct.