Newsalert: Double Jeopardy under New Scrutiny by the Italian Supreme Court in Market Abuse Case

Double Jeopardy under New Scrutiny by the Italian Supreme Court in Market Abuse Case: Supreme Court (Criminal Section V), 21 June 2018 – dep. 10 October 2018, no. 45829

The Italian Supreme Court issued a new decision on the ne bis in idem principle, on the wave of recent renowned decisions of the European Court of Justice and the European Court of Human Rights on the dual sanctioning regime in the areas of tax and market abuse.

Three individuals turned to the Supreme Court after having been held liable for the criminal offense of market abuse, despite having already been fined in an administrative setting for the same conduct by a final decision of the National Companies and the Stock Exchange Commission (Consob).

After outlining to the European case-law, the judges of Supreme Court has clarified the matter. 
 

For detailed analysis, download the Newsalert developed by our White Collar Crime and Business Integrity Business Unit.