Abstract

In the wake of the British and German recent reforms, it is now highly debated also in Italy whether the Authorities supervising the financial markets should be reshaped to adequately face the new challenges (and threats) posed by the markets. This article briefly examines the bills currently under discussion in the Italian Parliament in the light of the most remarkable comparative experiences and of the European principles governing the subject matter and provides some thoughtful recommendations - particularly on "governance" and "due process" - aimed at increasing the independency and impartiality of the regulatory action performed by forthcoming "new" supervisory authorities.