FINANCIAL MARKETS LAW

The course aims to provide students with a systematic knowledge of financial markets law through the study of the main legal institutions governing the securities market and the banking market. It will examine the role of regulation and supervision, the subjects operating in the markets, the relevant assets and transactions, as well as the legal framework governing investment services, public offerings and market abuse. The course will also explore the main features of banking undertakings, banking activity, supervision and banking crises, together with the most significant banking contracts and the related transparency rules. The course also aims to develop students’ ability to read legal sources critically, to connect European rules with domestic law, and to apply the legal categories studied to concrete cases.

Knowledge of private law, business law and European Union law.

- Knowledge and understanding of the main legal institutions: students will acquire a solid knowledge of the main legal institutions that characterise financial markets law, with particular reference to the structure and functioning of the securities market and the banking market, the role of regulation and supervision, the subjects operating in the markets, the relevant assets and transactions, as well as the main features of investment services and banking contracts. - Ability to apply knowledge and understanding of legal institutions: students will demonstrate a sound understanding of the relevant legal institutions and a marked ability to apply the legal tools and concepts examined during the course to case law and practical cases analysed in seminars and class exercises. - Autonomy of judgment: thanks to the methodologies acquired during the course, students will be able to identify and collect case law and legislative materials within the multi-level framework of financial markets law and to assess such materials critically and independently in order to identify appropriate solutions to concrete cases submitted to their attention. - Communication skills: through active participation in the course, its teaching activities and related exercises, students will be able to use correctly the terminology and technical legal language specific to the subject. They will thus acquire communication skills that may be used in different professional contexts after graduation. - Learning skills: the body of knowledge acquired during the course and the understanding of the fundamental principles of the subject will enable students to deepen further the topics covered by the course and to update their knowledge independently in post-graduate professional contexts.

The course examines the legal framework of the financial market and the banking market. It will examine the general profiles of the financial market, the role of regulation and supervision, the relevant market actors, assets and transactions, with particular attention to investment services, public offerings and market abuse. Part of the course will also be devoted to the banking market, public controls over banking activity, the main features of banking undertakings, supervision and banking crises, as well as the principal banking contracts and the transparency rules governing relations with clients.

Lener R. – Corrias P. (a cura di), Manuale di Diritto dell’Economia, Giappichelli, 2024. ISBN: 9791221110265 Limited to Part I and Part II (pp. 1-256).

Lectures – class exercises – group work.

The examination consists of an oral interview in which students must demonstrate knowledge and understanding of the legal institutions and principles of financial markets law and banking law, as well as the ability to apply them to practical cases submitted by the lecturer through concrete examples. Students must also be able to analyse independently the relevant legal sources and interpretative approaches relating to the topics covered by the course and to use correctly the technical legal language of the subject, thereby demonstrating that they have acquired the study method and learning skills necessary to continue deepening their knowledge independently after the course. For the purpose of awarding marks out of thirty, the following assessment criteria will be taken into account: - knowledge and understanding of the legal institutions and principles of the subject, and ability to apply them to concrete cases (60%); - participation in the class exercises carried out during the course (20%); - active and regular participation in lectures (20%). Gaps in the knowledge of one or more legal institutions or principles will result in an insufficient mark even where a basic knowledge of the subject is otherwise demonstrated.

Attendance of the course and successful completion of the examination.