Ateneo - UPO

Financial market law.
Investors, issuers and financial intermediaries.
Collective investment management and schemes.
The main directives related to financial market regulation.

The study materials will be indicated during the lessons and made available on the Moodle page of the course.

The Class aim is providing students with instruments to understand EU company law, and financial markets law, with a specific focus on the rules about intermediaries, markets and issuers

Students must be registered to the examination and must have passed exams as provided in Department rules.

The course includes a series of lectures, each dedicated to one or more institutions and declined in its illustration, followed - where appropriate - by the presentation of case law of particular importance

Written examination.

Introduction to financial market law.
Financial market infrastructures.
Secondary market and trading venues.
FinTech, crypto-assets and ICOs.
Investment services: from ISD to MiFID II. Key elements and structure of MiFID. The conduct of business regime, conflict of interests.
Investors, issuers and financial intermediaries.
Collective investment management and schemes.
Rationale and limits of the disclosure paradigm.
Disclosure and capital raising: the Prospectus regulation, regulatory concepts, sanctions.
On-going and periodic disclosure: the Transparency Directive and the Market Abuse Regime.
Periodic disclosure and the disclosure of inside information; insider trading and market manipulation. Shareholders’ rights and disclosure.
Disclosure and takeover: transparency requirements and the obligation to disclose bids.

KNOWLEDGE AND UNDERSTANDING: the students should gain knowledge and understanding on the current rules of company law We hope thand financial markets law
APPLYING KNOWLEDGE AND UNDERSTANDING: the students should be able to properly apply the institutions of financial markets law to cases and works hypothesis
INDEPENDENT JUDGEMENT: the students should gain critical skills in evaluating the answers/solutions provided to the main financial markets law issues