91417 - Financial Markets Law

Learning outcomes

At the end of the course unit, students: - possess an in-depth knowledge about the legal regime applicable to financial operators and relevant swap transactions, against the background of the applicable international and supranational legal instruments; - are thus able to understand financial operators’ behaviour in a given political and economic context, and to envisage its impact on the regulatory framework concerning the functioning of financial markets.

Course contents

This course is structured in such a way as to allow the student to have knowledge of the fundamental principles on the subject.
After a brief review of the architecture of financial institutions and European supervisory authorities like ESMA and BCE, the sources of financial law will be investigated by comparing, in the wake of the efficient market theory, rules of regulatory production with respect to standards and rules and the role of the so-called self-regulation. Particular attention will be paid to the principles relating to the provision of investment services as provided by the MIFID 1 and MIFID 2 Directives. The topic of the 2008 financial crisis will be addressed to understand how European regulations have intensified investor protection, transparency of markets until reaching forms of protection through the standardization of products. The course will focus on IPO and takeover bids discipline. The fundamental institutes of the matter will be explored also through legal cases.

Readings/Bibliography

the texts will be communicated before the course

Teaching methods

This is a one-semester course. It will be held in the second semester of the academic year.

Assessment methods

Oral examination at the end of the course.

Teaching tools

Can also be used slides, videos, judgements and measures taken by public authorities.

Office hours

See the website of Edgardo Ricciardiello