L’impugnazione delle sanzioni irrogate dalla Banca d’Italia e dalla Consob: l’insoddisfacente qualificazione dei vizi attinenti alla motivazione del provvedimento nella prospettiva giurisprudenziale del giudizio sul rapporto = The appeal against punitive measures adopted by the Bank of Italy and the Consob: the unsatisfactory classification of flaws concerning the statement of reasons within the judicial perspective based on the so-called “legal relationship” review

This paper aims at examining the role of the statement of reasons with specific reference to punitive measures adopted by the Bank of Italy and the Consob. Given the established case-law of the Italian Supreme Court, systematically debasing the relevance of the statement of reasons as a means of determining the illegitimacy of the punitive measures issued by the mentioned Authorities, the Author, in his critical examination of such case-law, underlines the need to emphasize the relevance of the statement of reasons as a general principle of Italian Ad-ministrative Law, pointing out the nature of \u201cadministrative acts\u201d of the said puni-tive measures. This consequently leads, in accordance with the standards of admin-istrative proceedings, to the necessary valorization of flaws concerning the state-ment of reasons, as well as of their attitude to be considered as a substantial ground of appeal before the Courts