Newsalert - Market abuse reform in Italy: compatibility issues with the European ne bis in idem principle

Newsalert - Market abuse reform in Italy: compatibility issues with the European ne bis in idem principle

[Note on decision of Italian Supreme Court (Civil) Tax Section, 30 October 2018, no. 27564]

In the last five years, certain decisions of the European Courts have brought to light issues of compatibility between national laws providing for a dual sanctioning regime and the European principle of ne bis in idem. Some of these cases have concerned the Italian legal system, which since 2005 provides for the parallel application of administrative and criminal sanctions for the offences of market manipulation and insider dealing.

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