Banking, Insurance, and Financial Markets Law

A.Y. 2021/2022
Overall hours
Learning objectives
Knowledge and Understanding. The student must demonstrate that he/she has acquired a basic knowledge of the fundamental institutes of banking law, insurance law and the specific aspects of financial market regulations which will be dealt with during the course. 2) Application skills. The student must demonstrate that he/she has acquired the analytical ability to select, interpret and apply, in a reasoned and legally sustainable way, the institutions covered by the course to actual cases inspired by events and practical cases. 3) Autonomy of Judgment. The student must demonstrate that he/she understands the scope and function of the institutions covered by the course and that he/she has acquired the ability to draw conclusions about the issues raised on the basis of reasoned and legally sustainable analysis. 4) Communication Skills. The student must demonstrate the ability to express the knowledge acquired with argumentative coherence, systematic rigor, and ownership of language. 5) Ability to Learn. The student must demonstrate that he/she has developed learning skills suitable to continue his/her studies with a high degree of autonomy.
Expected learning outcomes
At the end of the course the student who has profitably learned the subject will have a thorough knowledge of the topics of the course, with the acquisition of a method of reasoning suitable to deal with specific and complex legal issues in banking law, insurance and financial markets.
Course syllabus and organization

Single session

Lesson period
More specific information on the delivery mode of training activities for the academic year 2021/22 will be provided in the coming months, based on the evolution of the public health situation.
Course syllabus
The course aims to provide a general framework on the principles and foundations of banking law, insurance and financial markets, through, in particular, the examination of the issues and aspects, strictly topical in doctrine and jurisprudence, relating to bank contracts and insurance and the distribution of financial products to customers.
The first part of the course will be dedicated to a general introduction of banking, insurance and financial activities, in which, after a quick examination of the rules of banking, insurance and financial companies (reference Supervisory Authority; authorization regimes; ownership structures, governance, etc.), particular attention will be paid to supervisory measures aimed at ensuring, with reference to banking and insurance companies, sound and prudent management (capital adequacy, liquidity ratios, technical reserves, own funds, SCR, MCR, etc. .).
The second part of the course will focus on the general discipline of banking, insurance and financial contracts (transparency and general terms and conditions, information obligations, etc.), as well as on insurance distribution and financial intermediation (investment services).
In addition to a wide and complete recognition of the secondary regulations of the Bank of Italy, Consob and Ivass, the analysis will be conducted with a case-by-case approach, examining the main decisions of the Banking Financial Arbitrator (ABF) and the Arbitrator for disputes financial institutions (ACF) and the most recent interventions of the jurisprudence of merit and legitimacy.
Prerequisites for admission
As per the learning regulation of the degree course; in particular, Institutions of Private Law and Constitutional Law are preparatory.
A good knowledge of Institutions of Corporate Law is required.
Teaching methods
The course is structured in lectures, with the attendance of experts as speakers (insurance and banking companies; Supervisory Authority).
Teaching Resources
The reference texts for the exam are the following:
1) P. SFAMENI, A. GIANNELLI, Diritto degli intermediari e dei mercati finanziari, Egea, 2018 (the whole volume but parr. 8.5, 8.6 e 8.7 of chapter 10).
2) G. CAVALLI, M. CALLEGARI, Lezioni sui contratti bancari, Zanichelli, 2011 (the whole volume but chapters 9, 10 and 11).
3) A. Donati-G. Volpe Putzolu, Manuale di diritto delle assicurazioni, Giuffrè, 2019.
Further materials (case law and other sources) will be given and discussed in class.
Assessment methods and Criteria
The exam consists only of an oral test; there are no written tests. The oral test aims to verify, in addition to the knowledge of the notions, the ability to critically address and solve legal issues through the re-elaboration of the acquired knowledge and the understanding and evaluation ability of the cases addressed.
IUS/04 - BUSINESS LAW - University credits: 15
Lessons: 105 hours
Monday, 14:15
Dipartimento di Diritto Privato e Storia del Diritto - 1° floor