DI STEFANO ZOCCALI

Abstract – Value confiscation is a legal device that aims to prevent the economic use of assets of criminal origin from allowing the offender to secure an advantage that was the specific object of the criminal design. The paper aims to analyze some problems, starting from confiscation in general, concernig the extension to tax crimes, the administrative liability of the institutions and the regulation of market abuse, focusing on the guarantees regognized by the ECHR and the Italian Constitution regarding principles of proportionality and retroactivity. Through the references to the jurisprudence – internal and supranational – and to the recent interventions made by the legislator in order to adapt to the regulations and directives of the European Union, the contribution focuses on the definitions of product and profit, proposing some conclusions about the polyform nature of the confiscation.

Keywords – European Court of Human Rights, Court of Justice of the European Union, confiscation, principle of retroactivity, Article 7 ECHR, insider trading

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