EU FINANCIAL MARKETS LAW

Degree course: 
Corso di Second cycle degree in ECONOMICS, FINANCE AND BUSINESS LAW
Academic year when starting the degree: 
2019/2020
Year: 
1
Academic year in which the course will be held: 
2019/2020
Course type: 
Compulsory subjects, characteristic of the class
Language: 
Italian
Credits: 
6
Period: 
Second semester
Standard lectures hours: 
40
Detail of lecture’s hours: 
Lesson (40 hours)
Requirements: 

none

Final Examination: 
Orale

Examinations are written, will be evaluated the presentation in group during the course. The written examination will take one hour, will include 4 short essay questions, the student is required to answer only 3 questions. The vote is in thirtieths. The exam will be considered passed with a minimum grade of 18/30. The commission reserves the right to award the laude to comprehensive answers and characterized by a personal elaboration.

Assessment: 
Voto Finale

The course has the purpose of illustrating the Italian regulatory system in the European context, with particular reference to the regulation of companies quoted on the stock exchange. TThe student will acquire the knowledge of the financial markets regulations and will improve the ability to recognize the facts under regulation also with the help of the concrete events' description

After a short introduction there will be a presentation of the European Constitutional Economic Law, the sources of the Financial Markets Law, the control and supervision on Financial Markets, and the regulation and financial supervision at European level (about 2 lessons). Then, there will be a detailed explanation of the Consob’s supervisory functions on the information and governance of listed companies. The discipline of the ownership structure and the shares of listed companies, the government and the organization of the same among laws, regulations and self-regulatory codes, with particular attention to the implementation of the principles of European derivation, will be dealt with in detail (about 4 lessons). Some lessons will be dedicated to the specificities of the assembly of listed companies, with a focus on the rights of the shareholders. The board of directors and the internal audit will also be analyzed, with particular attention to special regulations (about 4 lessons). The last part of the course will be dedicated to the capital in listed companies and to the takeover bid’s regulation, as well as to banking, insurance and financial companies (about 2 lessons).
During the lessons students' interventions will be solicited, also with reference to the concrete events that involve the discipline and the principles under study. For this reason, presentations in group will be organized by the students who, after having framed specific events related to the topics of the course, also using specialized journalistic sources, will expose the applicable regulations, identifying the most relevant issues and interests in play (about 2 lessons).

M. Cera, Le società con azioni quotate nei mercati, Zanichelli, 2018 (pp. 1 - 224)

Updated texts of Legislative Decree 58/1998 and Consob Regulations.

Convenzionale

Lectures; e-learning. The lectures will permit a direct interaction with the students and the possibility to ask insights and study together concrete events.

Professors