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Archive » February 2018 » The assessment of violations and sanctions in the legal procedures in Italy

The assessment of violations and sanctions in the legal procedures in Italy

Fabio Bassan
February 2018 - n. 2
Jel codes: G21, G28, K40

Between the Italian and European legal systems, in relation to the banking sector, there is a misalignment in terms of distribution of competences (functional in Italy, sectoral in Europe) as regards the sanctions. The consequences of this diversity of approach on the regulation of financial and banking markets are particularly evident as the violations are ascertained. Since this complex system of division between the Ecb and national authorities (for Italy Consob and the Bank of Italy) may compromise the effectiveness of enforcement actions, it could be useful to revisit the existing agreements between authorities or to define a new cooperation framework.

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