"Despite opinions to the contrary even authoritative" posted 55 min ago by APCOM
Milan, March 11 (AP) - Stay in Milan on trial for attempting to climb to Antonveneta by BPI BPL then Giampiero Fiorani where among the defendants are the former Bank of Italy governor Antonio Fazio, the PDL Senator Luigi Grillo and former top Unipol Gianni Consorte and Ivano Sacchetti, accused of insider trading. The courts have decided the Second Criminal Chamber of the Court of Milan rejecting the exceptions made by the defense of territorial jurisdiction for the benefit of the judicial authorities of Lodi or Bologna. The judiciary does not give in Milan, after the resounding decision of the Supreme Court who had recently moved to Bologna, place de facto limitation, the trial Consorte and Sacchetti, convicted in Milan to 6 months in jail converted into a fine for insider trading.
And that ruling of the Supreme Court judges make implicit reference to page 2 of their order when they write: "I'm known to this Court also authoritative opinions to the contrary." For the second panel of the Criminal Division chaired by Gabriella Manfrin "must be considered made market manipulative conduct when the conduct described have been accepted by the market itself, and then when to their inherently diffuse and are made available through public means that the legislation provides for the financial negotiations. "
" Otherwise it could not even be capable of causing real danger that a disturbance in the course of prices is taken as a typical effect of the relevant criminal conduct "is the reasoning of judges according to which" the order received by the intermediary in order to reach the target must then be communicated through the electronic system operated at the time (2005 ed) the stock exchange based in Milan to be able to physically cross with an offer of opposite sign and thereby complete the transaction that is simultaneously communicated to the operators and the public became from that moment capable of constituting a news 'price sensitive'. "
In other words" the mere expression of will to through a purchase order can not still be considered a purchase but as a preliminary, preparatory to it. "The board also explains how his decision" is far from appearing as 'unreasonable' as it would centralize in one location legal disputes relating to those matters concerning certain financial transactions related to the one the stock exchange. "The choice but" seems rather respond to a criterion of rationality dictated by the need to identify which court has jurisdiction based on predetermined criteria according to the constitutional principle that inspires our legal case. "The courts have also rejected challenges to the admissibility of evidence on the invalidity of the accident in the interrogation of Fiorani and other defendants before the investigating judge and that of the decree ordering the proceedings to indeterminacy of the head of charge. The process continued with a presentation of the test subjects by Eugenio Fusco and Gaetano pm Ruta. The defenders say their the next hearing on March 25.
0 comments:
Post a Comment