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Case C-537/16: Judgment of the Court (Grand Chamber) of 20 March 2018 (request for a preliminary ruling from the Corte suprema di cassazione — Italy) — Garlsson Real Estate SA, in liquidation, Stefano Ricucci, Magiste International SA v Commissione Nazionale per le Società e la Borsa (Consob) (Reference for a preliminary ruling — Directive 2003/6/EC — Market manipulation — Penalties — National legislation which provides for an administrative penalty and a criminal penalty for the same acts — Charter of Fundamental Rights of the European Union — Article 50 — Ne bis in idem principle — Criminal nature of the administrative penalties — Existence of the same offence — Article 52(1) — Limitations to the ne bis in idem principle — Conditions)
ECLI:EU:UNKNOWN:62016CA0537
62016CA0537
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14.5.2018
Official Journal of the European Union
C 166/12
(Case C-537/16) (<span class="super note-tag">1</span>)
((Reference for a preliminary ruling - Directive 2003/6/EC - Market manipulation - Penalties - National legislation which provides for an administrative penalty and a criminal penalty for the same acts - Charter of Fundamental Rights of the European Union - Article 50 - Ne bis in idem principle - Criminal nature of the administrative penalties - Existence of the same offence - Article 52(1) - Limitations to the ne bis in idem principle - Conditions))
(2018/C 166/14)
Language of the case: Italian
Referring court
Parties to the main proceedings
Applicants: Garlsson Real Estate SA, in liquidation, Stefano Ricucci, Magiste International SA
Defendant: Commissione Nazionale per le Società e la Borsa (Consob)
Operative part of the judgment
1.Article 50 of the Charter of Fundamental Rights of the European Union must be interpreted as precluding national legislation which permits the possibility of bringing administrative proceedings against a person in respect of unlawful conduct consisting in market manipulation for which the same person has already been finally convicted, in so far as that conviction is, given the harm caused to the company by the offence committed, such as to punish that offence in an effective, proportionate and dissuasive manner.
2.The ne bis in idem principle guaranteed by Article 50 of the Charter of Fundamental Rights of the European Union confers on individuals a right which is directly applicable in the context of a dispute such as that at issue in the main proceedings.
(<span class="note"> <a id="ntr1-C_2018166EN.01001201-E0001" href="#ntc1-C_2018166EN.01001201-E0001">*1</a> </span>) OJ C 22, 23.1.2017.