The course deals with the fundamental principles of European regulation of capital markets, focusing on the main chapters of securities markets, issuers and financial intermediaries.
The course covers the institutional aspects (EU legislative framework and processes, EU and national supervisory authorities), the public law regulation strategies (e.g., access to markets, disclosure, sanctions) and the private law elements of regulation (e.g., rules of conduct, corporate governance, private enforcement), with the aim to provide students with a background on the following main topics: (i) functioning of the EU market infrastructures; (ii) law and economics of information theory and market abuses; (iii) access of issuers to capital markets; (iv) regulation of investment services; (v) regulation of investment funds; (vi) financial regulation on crypto-assets; (vii) sustainability issues in capital markets regulation.
The course covers the institutional aspects (EU legislative framework and processes, EU and national supervisory authorities), the public law regulation strategies (e.g., access to markets, disclosure, sanctions) and the private law elements of regulation (e.g., rules of conduct, corporate governance, private enforcement), with the aim to provide students with a background on the following main topics: (i) functioning of the EU market infrastructures; (ii) law and economics of information theory and market abuses; (iii) access of issuers to capital markets; (iv) regulation of investment services; (v) regulation of investment funds; (vi) financial regulation on crypto-assets; (vii) sustainability issues in capital markets regulation.
teacher profile teaching materials
o R. Veil (ed), European Capital Markets Law (3rd edition, 2022), Hart Publishing
In addition, supplementary materials such as legislative texts, ECJ rulings, academic articles, and policy papers will be distributed and commented on during the classes.
Programme
Course Description: The course provides an in-depth analysis of the legal framework governing capital markets in Europe. It covers the regulatory environment, key institutions, and significant legal instruments that shape the functioning of capital markets within the European Union. The course aims to equip students with a comprehensive understanding of the principles, rules, and practices that underpin European capital markets law.Core Documentation
o N. Moloney, EU Securities and Financial Markets Regulation (4th edition, 2023), Oxford EU Law Library, or in alternativeo R. Veil (ed), European Capital Markets Law (3rd edition, 2022), Hart Publishing
In addition, supplementary materials such as legislative texts, ECJ rulings, academic articles, and policy papers will be distributed and commented on during the classes.
Attendance
In-presence attendance.Type of evaluation
Students will be tested thorough a final oral exam, in presence. Active participation to class discussion will be taken into account for grade purposes.