91417 - Financial Markets Law

Learning outcomes

At the end of the course students know the legal regime governing EU financial markets and their key players, and the theoretical underpinnings supporting the major regulatory choices in the area. Students are able to identify the regulatory framework governing securities offerings and other financial transactions, the conduct of investment firms, investment funds and other major financial intermediaries, and securities trading on regulated markets, across all EU countries. Students are able to understand the rationale and the limitations of the rules governing financial markets and their legal and economic implications, to understand and apply the decisions of national and supra-national courts and supervisory authorities, to interpret laws and regulations, to solve specific legal problems, especially of an international nature, concerning the regulation and the functioning of financial markets and of financial institutions. Overall, students achieve an in-depth knowledge of the regulation of financial markets, mostly in its supra-national, transnational and comparative aspects, and of the behavioral and economic principles underpinning it, and the ability to solve the legal problems arising in the field.

Course contents

The course offers an overview of the structure and main features of EU financial regulation, along with an in-depth examination of some of its main pillars. Topics covered by the course are the regulation of securities offerings, investment firms and investment services, investment funds, securities markets, market abuse.

Readings/Bibliography

As a basis for the preparation of the exam, students may use the following textbooks:

- J. Armour et al, Principles of Financial Regulation, Oxford, OUP, 2016 (for the introductory part of the course)

- R. Veil, European Capital Markets Law, 3rd edn, Oxford, Hart, 2022

Further indications will be provided in class during the course.

 

Teaching methods

Class lectures held by the course teacher. Active class participation is strongly encouraged.

Assessment methods

Written in-class exam based on multiple-choice and open questions

 

Students with learning disorders and/or temporary or permanent disabilities: please contact the office responsible (https://site.unibo.it/studenti-con-disabilita-e-dsa/en/for-students) as soon as possible so that they can propose acceptable adjustments. The request for adaptation must be submitted in advance (15 days before the exam date) to the lecturer, who will assess the appropriateness of the adjustments, taking into account the teaching objectives.

Teaching tools

The teacher will use slides in support of the lecture. They will be made available to students via the "Virtuale" platform, usually shortly after the class.

Office hours

See the website of Sergio Gilotta