For a little over a decade, the figure of the credit broker has gradually acquired more and more importance, that is, since a specific regulation has intervened to define its characteristics and limits (art.2 of the DPR 28 July 2000 n.287, issued after art. 16 of Law 108 of 7 March 1996). It is only since 2010, however, with Legislative Decree 141 (and then subsequently with Legislative Decree 169 of 2012), that access to the profession has become more rigid, and higher profiles.
Let’s see what are the requirements to become a credit broker and what are the expectations for those who carry out such a job, regardless of the areas in which it operates (from Rome to Milan, or for a Tuscan or Ligurian place, etc.).
What does he do?
A credit broker is a professional in all respects (complete with a register) who places himself between the customer and the banks, trying to identify the financial product that best suits the needs of each specific customer (loans, mortgages, etc.). This means that a credit broker is in constant contact with all financial institutions, but will not be able to collect payments in place of the bank or close contracts in place of the client (in this he differs from the commercial agent).
The requirements to enter the profession: society and not people
The requirements to become a credit broker are not so relevant to specific university qualifications (the high school diploma is however mandatory and obviously if you have a degree in law or economics all the better), but to certain characteristics determined by the aforementioned D 141 of 2010. These characteristics are also linked to the company that you want to set up.
In fact, it is no longer possible to practice the profession as a natural person, but only as a corporate form, of which the legal and administrative headquarters must be located in Italy. The company created will also have to deal (as a corporate object) exclusively with credit mediation and not with other matters as well.
Professionalism, integrity and social capital
In addition to these basic requirements, it will also be necessary to possess professionalism and integrity requirements. In the first case, it will be necessary to demonstrate that you have a qualification obtained by passing a specific exam and that you have at least three years (five for the presidents) of experience in business administration.
As regards the integrity requirements, on the other hand, it is necessary to demonstrate that you are not ineligibility or forfeiture and that you have not been sentenced to prison terms or subjected to preventive measures. Finally, it will be necessary to take out a civil liability insurance policy for the exercise of a business and to pay the share capital.