The Italian Council of State indicates that the regulation of the unfair commercial practices perpetrated in the financial sector falls within the jurisdiction of the financial regulator

Following a request filed by the Italian Competition Authority (ICA), the Council of State (CoS), the Italian higher administrative court, has given an opinion on the alleged conflict of jurisdiction between the ICA and the Italian financial regulator (Consob) on the regulation of unfair commercial practices carried out by financial intermediaries. By the opinion the CoS states that the above conducts fall within the jurisdiction of the Consob and the scope of application of financial law. The current regime for unfair commercial practices in the financial sector The conflict of jurisdiction between the ICA and Consob arises because under the Italian legal system two legal instruments appear to concurrently apply to regulate unfair commercial practices carried out by financial

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Michele Giannino, The Italian Council of State indicates that the regulation of the unfair commercial practices perpetrated in the financial sector falls within the jurisdiction of the financial regulator, 3 December 2008, e-Competitions Bulletin December 2008, Art. N° 26450

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