1) Knowledge and understanding. Students must demonstrate to have acquired a basic knowledge of the fundamental principles of Financial Law and Antitrust Law and their relationship with the European framework on sustainable development. 2) Application capacity. Students must demonstrate to have acquired the ability to select, interpret and apply argumentatively the relevant bodies of laws to specific cases. 3) Making judgments. Students should be able to understand the scope and role of institutions subject of the course and to have acquired the ability to draw conclusions on the issues raised on the basis of a reasoned analysis. 4) Skill in communication. Students must demonstrate the ability to express their knowledge with property of language.
This section of the course aims at illustrating the general principles of the Community framework of financial law, in its various sectors (banking, finance and insurance). The main profiles treated will be the bodies of law relating to financial operators, the relationship between them and the customer and the supervision by the independent authorities, with particular attention to the processes of centralized surveillance systems at European level. The course will present the scenarios of development of the discipline, which revolves around prudential principles of capitalization and corporate governance, giving account of the wide ranging discussion. The course will also address major problems that emerged from the financial crisis, which led to the emergence of market failures and inefficiencies of the discipline, with special emphasis, on the one hand, on the issue of de-specialization of financial intermediaries (and the emersion of financial conglomerates and multi-functional groups), and, on the other hand, the increasing opacity of financial products.
Module II - Antitrust Law (3 credits)
This section of the course will address the various interactions between antitrust law and the European legal framework concerning sustainable development. To this aim, a general overview of the substantive EU antitrust rules will be provided (on restrictive agreements, abuses of dominant positions and mergers) and the basic enforcement mechanisms. The course will illustrate the issue of balancing the interests of consumers and those of undertakings in applying antitrust rules, both in general and with specific regard to the criteria set forth by art. 101.3 TFUE. It will then address the relationship between the specific goals of protecting competition and wider public interest goals in the interpretation of antitrust law. An account will also be provided of the historical development of the legal analysis of the relationship between the antitrust provisions of the European Treaties and the fundamental aims of the Union, that include environmental protection and sustainable development. The following main topics, in such a framework, will be illustrated: the so-called consumer welfare and the total welfare tests; antitrust, efficiency and progress; consumers' freedom of choice as a goal of antitrust; dynamic vs status analysis of consumers interest. Throughout the course case studies will be carried out, on matters that address the balancing exercise between consumers' interests and competition, posing issues involving sustainable development.
Prerequisiti e modalità di esame
The examination consists solely of a written test at the end of the course.
Class attendance is mandatory.
Materiale didattico e bibliografia
The detailed course programme will be available at the beginning of the course.Reading material will be distributed during the lessons.