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Thursday, January 31, 2013
Independiente and Genoa fined by FIFA

ESPN staff

Serie A side Genoa and Argentina's Independiente have been fined 35,000 Swiss francs by FIFA for misuse of their electronic transfer system.

Independiente have been punished for charging Genoa a fee to provide an International Transfer Certificate (ITC), which should be issued free of charge, while the Italian side were charged with "failing to submit information and upload relevant documents into the Transfer Matching System (TMS) once the transfer contract had been signed".

The fines are related to the transfer of Julian Alberto Velazquez, a player who remains with Independiente because the transfer stalled. FIFA has claimed that Independiente could yet face further sanctions for failing to authorise the transfer.

"Conditioning the issuance of the ITC is a serious breach of the regulations," FIFA's disciplinary committee said when announcing the decision.

"(It) jeopardises the transparency of international transfers, stains the credibility of the entire transfer system and hinders the possibility of the football authorities to have a more effective monitoring of international transfers. Players' activities are hindered and prejudiced by such behaviour.

"The use of TMS is obligatory. Its purpose is to ensure that football authorities have clear details of the international transfers of players available, and thus improve credibility and transparency of the system."

All international transfers have to be processed through TMS, which was introduced in 2010 in order to provide greater transparency, eradicate money laundering and to halt third-party ownership of players.

The completion of a transfer via TMS requires entry of the move into the system including the transfer fee, the player's salary, the agent or lawyer involved and the length of the contract, and the money must be transferred from and to a bank account.

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