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ECONOMIC LAW

CODE 103980
ACADEMIC YEAR 2023/2024
CREDITS
  • 6 cfu during the 3nd year of 11122 DIRITTO ED ECONOMIA DELLE IMPRESE(L-18) - LA SPEZIA
  • 6 cfu during the 3nd year of 11122 DIRITTO ED ECONOMIA DELLE IMPRESE(L-14) - LA SPEZIA
    		•
    SCIENTIFIC DISCIPLINARY SECTOR IUS/05
    LANGUAGE Italian
    TEACHING LOCATION
  • LA SPEZIA
    		•
    SEMESTER 2° Semester
    PREREQUISITES
    Prerequisites
    You can take the exam for this unit if you passed the following exam(s):
    • LAW AND BUSINESS ADMINISTRATION 11122 (coorte 2021/2022)
    • LAW OF OBLIGATIONS AND CONTRACTS 103723
    • CONSTITUTIONAL SYSTEM AND FUNDAMENTAL RIGHTS 103725
    TEACHING MATERIALS AULAWEB

    OVERVIEW

    The course aims at providing students with adequate instruments to understand and critically analyze the financial sector from the legal point of view. We will examine prudential regulation, conduct of business rules and the main contracts, taking into account recent developments and scientific debates within the sector, both nationally and internationally, and using seminars to analyze the most interesting and relevant to banking law cases, while developing research and critical analysis skills. 

    AIMS AND CONTENT

    AIMS AND LEARNING OUTCOMES

    • Knowledge and understanding: the students will acquire adequate knowledge and understanding of the main concepts and rules in the area of banking law, capital markets and competition (with particular regard to TUB, TUF and EU law) (advanced alphabetic-functional competence)
    • Ability to apply knowledge and understanding. The students will be able to apply the knowledge to practical cases, conduct research and understand and solve technical issues emerging in practice in deploying technology to the financial sector
    • Critical and autonomous thinking. The students will develop the ability to use and apply their knowledge from a theoretical and practical point of view in different contexts, with autonomous critical thinking (advanced personal compentence)
    • Communication skills. The students will acquire the ability to use the technical language used by lawyers and by the financial sector to communicate with professionals, experts but also the general public; thanks to the participation to the seminars and work groups, students will develop soft skills (presentation, communication, team work: advanced social competence; creative competence)
    • Learning skills. The students will develop learning skills which will allow them to keep deepen independently new issues and future applications in the area of financial markets and to adequately deal with the challenges that might emerge in their future working context (advanced learn how to learn competence).

    TEACHING METHODS

    Lessons (with active participation of students; instant pools, case-based learning) and seminars (with presentations by students; project-based and case-based teaching; team based learning, debate, etc.). 

     

    SYLLABUS/CONTENT

    Part I: Introduction and basic notions

    1. The financial sector in historical perspective. Principles and structure of financial regulation and supervision 
    2. The legal notion of bank and banking activity.
      1. Bank and banking activity in the law. Authorisation
      2. Specialty of banks after the financial crisis
      3. Non-bank financial institutions: 106 TUB, payment institutions, e-money institutions and others (taking into account PSD 2 reform).
      4. Types of activities reserved to banks, of bank permissible activities, prohibited activities.
    3. Financial market and investment services
      1. Notion of financial product, financial instruments and investment services
      2. Activity reserved to investment firms and authorisation
    4. Supervisory Architecture:
      1. Italian financial Authorities
      2. Recent developments in European Financial Regulation and Supervision: Lamfalussy and the European passport; ESRB, ESAs and the Banking Union (and the role of the ECB in banking supervision); Capital Markets Union
      3. Other authorities and division of competences
      4. International authorities: Basel Committee on Banking Supervision, FSB, etc.

    Part II: Regulation of financial intermediaries. Prudential regulation

    1. Rules and instruments of prudential regulation and supervision.
      1. Sources of law
      2. groups; crises and resolutions
      3. Deposit guarantee schemes and investor protection systems

    Part III: Regulation of financial intermediaries: conduct rules and contracts 

    1. Applicable law.
    2. General regimes (banking, investment)
    3. Special regimes 
    4. Cosumer protection and special regimes (consumer credit and residential mortgages)
    5. Aspects of competition law

    The course will be complemented by seminars prepared by group of students (on a voluntary basis, obtaining additional points) addressing practical cases or certain topics deserving special attention to better understand banking regulation, such as: microcredit, peer-to-peer lending and investment-based crowdfunding, virtual currencies, crypto-assets and stablecoin, online banking, fintech banks, Antonveneta, Monte dei Paschi di Siena, Carige, Fortis-Dexia, 'four banks' cases, islamic finance, Brexit, Big tech, Amazon lending, Gamestop, Wirecard, etc..

     

    RECOMMENDED READING/BIBLIOGRAPHY

    Please see the course's page on Aulaweb for updated information.

    TEACHERS AND EXAM BOARD

    Exam Board

    EUGENIA MACCHIAVELLO (President)

    MATTEO GARGANTINI

    CHRISTIAN MEZZANO (Substitute)

    LUISA NENCI (Substitute)

    CHIARA VALENTI (Substitute)

    LESSONS

    Class schedule

    All class schedules are posted on the EasyAcademy portal.

    EXAMS

    Exam schedule

    Date Time Location Type Notes