Supervisory Authorities’ liability in the “Capital Act”

The aim of this paper is to examine the legal framework of the supervisory Authorities’ omissive liability in light of the new paragraph 6-ter of Article 24 of Law No. 262 of 28 December 2005, introduced by Article 20 of Law No. 21 of 5 March 2024 (“Capital Act”). In particular, the author questions the actual innovative scope of the provision, noting that, on a purely legal point of view, it merely reiterates well-established principles on the subject of causation in private law. However, a critical note is made of the “political” connotation of the provision, which seems to reflect a broader legislative trend aimed at protecting the supervisory Authorities by progressively delimiting the scope of their liability.