Cleary Gottlieb associates Bernardo Massella Ducci Teri and Giulia Checcacci were extensively quoted in the article, “Right to Silence Before the Authority,” which appeared in Il Sole 24 Ore Plus.
The article reports that, with ruling 84/2021, the Italian Constitutional Court has established the constitutional illegitimacy of the rules that found it unconstitutional to not recognize the right of individuals, in the context of administrative proceedings, to refrain from answering questions that may indicate that they are responsible for an administrative offense punishable by “punitive” sanctions, such as the ones for market abuse governed by Legislative Decree no. 58 of 24.2.1998 (the “TUF”).
Bernardo and Giulia were quoted on how the ruling will have a major impact in enforcement proceedings before Consob and on potential further developments.
To read the article, click here.