Legal notice

The use of the information is carried out entirely under the responsibility of the user and under no circumstances shall Flavio Moretto, his associates and the persons working or collaborating in the preparation of the documents on the site (henceforth also referred to as “The Providers”) be held responsible for any loss or damage resulting from the use of the information contained on the site and the material made available. The material, compiled with the utmost diligence and care may contain errors, defects or omissions but in no form shall “The Providers” be held responsible for them.

Flavio Moretto does not guarantee that the information made available to users will reflect their needs and requirements. Flavio Moretto does not guarantee the accuracy, completeness or truthfulness of the information provided.

Due to the nature of the content on the site, Flavio Moretto recommends that it not be used for operational purposes, but only for information and technical insight. Anyone who uses the information reprocessed by Flavio Moretto for purposes other than cognitive purposes does so solely at his or her own risk. The information should never be used to buy or sell a financial instrument: authorized intermediaries and professionals should be consulted for further information.

Arbitration for financial disputes

The Client may appeal to the Arbitration for Financial Disputes (ACF), established at CONSOB, for the out-of-court settlement of disputes between investors (other than professional clients) and autonomous financial advisors and financial advisory firms referred to, respectively, in Articles 18-bis and 18-ter of the TUF, , relating to the latter’s violation of the obligations of diligence, fairness, information and transparency in the exercise of the activity regulated by Part II of the TUF, including disputes covered by Regulation (EU) No. 524/2013. Disputes involving the request for sums of money in an amount exceeding five hundred thousand euros do not fall within the scope of the Arbitrator’s operations. Excluded from the Arbitrator’s cognizance are damages that are not an immediate and direct consequence of the intermediary’s breach or violation of the obligations described above and those that are not pecuniary in nature.  The right to appeal to the ACF is unwaivable and always exercisable, even in the presence of clauses in the contract devolving disputes to other out-of-court settlement bodies.

For more information refer to the website

ESG Regulation


Regulation (EU) 2019/2088 of the European Parliament and of the Council of November 27, 2019, on sustainability disclosures in the financial services industry (hereinafter, the “ESG Regulation”) requires financial advisors to publish and update on their websites: (a) information indicating whether, taking due account of their size, the nature and scale of their activities, and the type of financial products on which they provide advice, they take into account the main adverse effects on sustainability factors in their investment advice; or (b) information as to why they do not take into account, in their investment or insurance advice, the adverse effects of investment decisions on sustainability factors and, where appropriate, information regarding whether and when they intend to take such adverse effects into account.

Sustainability risk means an environmental, social, or governance event or condition that, if it occurs, could cause a significant actual or potential negative impact on the value of the investment.

“Sustainability factors” include environmental, social and personnel issues, respect for human rights, and issues related to active and passive anti-corruption.

Pending the publication by the Community Authorities and the national legislature of the necessary regulatory provisions and clarifications regarding the correct application of the aforementioned ESG Regulation, Flavio Moretto has chosen at the moment not to consider in the provision of investment advisory services the negative effects of investment decisions on sustainability factors, without prejudice, however, to its commitment to take such effects into serious consideration as soon as the modalities of application of the ESG Regulation are definitively clarified.



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    OCF CFA iscr. n.1918 del 04.05.2022
    EFPA ESG Advisor Cert. Nr. IT202221936
    N° iscrizione RUI: B000609294
    FERMA Rimap Cert. n. 20200262