The Peculiar Administrative Sanctioning System for the Italian Financial Markets

Elisabetta Bani

Chapter 5 in Italian Banking and Financial Law, 2015, pp 103-130 from Palgrave Macmillan

Abstract: Abstract Sanctions are an essential element to ensure the effectiveness of the legal system1 as they are second level legal precepts aimed to promote adherence to primary legal precepts (those that define the conduct) through the provision of negative consequences for the offender; therefore, they have the purposes of prevention and repression of illegal behaviours. The recent financial crisis has led to reflection on a few aspects of the financial markets regulation including the adequacy of the regulatory framework of sanctions. Historically, there is a natural trend to tighten sanction regimes as a result of exceptional events, since the South Sea Bubble (terrorism, environmental alarms, financial scandals).2

Keywords: Financial Market; Credit Institution; Criminal Sanction; Supervisory Authority; European Banking Authority (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-50762-4_5

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DOI: 10.1057/9781137507624_5

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