Vigilanza di tutela e trasparenza

PROTECTION SUPERVISION AND TRANSPARENCY. The aim of this article is to provide a critical and actual overview of the transparency principle, through the analysis of title VI and, in particular, of article 127 of the Consolidated Italian Banking Code (T.u.b.). The first issue deriving from the study of sectorial legislation deals with the recognition of the aims of protection rules and supervision. Therefore, the regulation of transparency, as well as the following intervention of sectorial authority, seemed to tend to an efficient synthesis between systemic goals – market competition – and protection ones, concerning the safeguard of the costumer position. The transparency of the contractual conditions and the fairness of the relations with customers, included among the aims of credit authorities’ supervision, have finally allowed to address a further profile, connected to the dimension of the remedies. The renewed remedial approach, inspired by the public enforcement of private law, has identified the Banca d’Italia (Bank of Italy) as the main safeguard for the protection of the costumer’s subjective right. In this sense, the restitution remedy provided for by article 128-ter – enough problematic from the point of view of private law analysis – represents an emblematic response both from the perspective of protection, as well as that of the impact of public power on contractual relationship.