Sul risarcimento del danno all'integrità del mercato. Una storia (legislativa) di buone intenzioni e strumenti impropri

The authors examine the application scope of Article 187 undecies of the Law Decree no. 58/1998, which empowers the judge to sentence the offender to the payment of a sum of money in favour of Consob, in case of insider dealing and market manipulation. After reconstructing the reasonable purpose of the law, the authors note that the institute, however it is considered, possesses a punitive nature that imposes on the operators a cautious use of the remedy, also in the light of the principle of ne bis in idem.