PRESS RELEASE

PROFESSIONAL ORDERS: ANTITRUST, THE BOARDS OF NOTARIES IN MILAN, BARI AND VERONA RESTRICT COMPETITION THROUGH AGREEMENTS AIMED AT REINTRODUCING REPEALED TARIFFS

The Boards of Notaries in Milan, Bari and Verona with their deliberations tried to limit the autonomy in the determination of individual notaries’ remunerations. In order to make the professionals line up with the indicated tariffs, said Boards threatened to use the tool of disciplinary measures against those who would not conform themselves. At the end of three different preliminary investigations, the Authority imposed sanctions calculated on the basis of membership fees.

The Boards of Notaries in Milan, Bari and Verona entered into three different restrictive competition agreements aimed at reintroducing repealed tariffs as reference for determining remunerations, threatening disciplinary measures in case of non-adjustment. At the end of its preliminary investigations, in a meeting on 30^th May, the Autorità Garante della Concorrenza e del Mercato resolved to warn the Boards involved against carrying out said behaviours. The sanctions were calculated on the basis of the membership fees of notaries belonging to the districts of reference. Said sanctions amounted to 99,403 Euros for the Board of Notaries in Milan, 10,227 Euros for the Board of Notaries in Bari, and 20,445 Euros for the Board of Notaries in Verona.

According to the Antitrust Authority, although through different modalities, the three Boards basically tried to thwart the legislator’s liberalizing intervention by means of the ‘Cresci Italia’ Decree-Law. On the basis of the principle of remuneration adjustment for the professional service provided, the Boards’ request was essentially to anchor the tariffs applied to the ministerial tariffs repealed by the legislator. In order to guarantee homogenous price behaviours of all the professionals of the district, the Boards threatened to apply disciplinary measures.

During the preliminary investigations launched by the Antitrust Authority, the three Boards revoked the acts aimed at reintroducing said tariffs.

Rome, 13^th June 2013