Consob regulation fifty years late

Abstract

The paper examines the phenomenon of the expansion of Consob's unnamed powers, endorsed by case law. In particular, it takes a position on the expansion of the authority's sphere of influence resulting from the recognition of its exercise of powers not expressly provided by law but justified by its institutional objectives. Therefore, address the issue of the quality of procedural guarantees to highlight their unfitness to be a real and effective compensating factor for the expansion of Consob's regulation.