Autorità di vigilanza sul mercato finanziario e diritto penale.

[Autom. eng. transl.] The volume analyzes the market abuse regulation and the enforcement activity carried out by the supervisory authorities on the financial markets. After analyzing the relevant Community legislation and explaining the penal and administrative rules aimed at preventing and suppressing the abuse of privileged information and market manipulation, the investigation examines Consob's prerogatives on this subject and describes it in detail the powers of detection, investigation and enforcement. Significant are the criticalities that emerge at the outcome of this examination, above all due to the excessive mingling of roles in the supervisory authority: these aporias, on the other hand, are not present in the model adopted within the British system and arise in much less problematic in the US model, which have been chosen, as part of the research, as privileged terms of comparison, given the particular importance of London and New York financial centers.