Eu Financial Law: Institutional Framework 2022

Academic Year 2022-2023

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Spring Semester (March 1 - May 31, 2023)

Course

Prof. Concetta Brescia Morra

7 CFUs - ECTS
Monday 12.00-14.00; Tuesday 12:00-14:00; Wednesday 12:00-14:00

Course description:

The course aims at introducing students to the European regulation of the financial sector. The first part of the course intends to provide students with an understanding of the functions of the financial system and institutions through which these functions are performed; an understanding of the core principles and objectives which govern financial regulation; an understanding of the regulatory goals such as the safety and soundness of financial institutions, the investor protection, and the promotion of financial stability. The second part will focus on the evolution of the harmonisation process of laws in the financial sector and on the institutional architecture for Financial regulation in Europe. Lastly, we will take a deep dive into the institutional architecture of the Banking Union.

Course Learning Objectives

Knowledge of substance of the financial regulation
Ability to engage in legal analysis, including the analysis of case law and regulation, and in legal research
Ability to communicate effectively in the legal context, orally and in writing
Ability to engage in critical thinking and to formulate positions using the conventions and the rhetoric of legal arguments

Course Learning Activities

reading the assigned materials before coming to class
small group work through seminars or cooperative learning groups
prepare for and participate in moot court exercises or mock trials
write briefs
make oral presentations

Assessment tools

Take-home exam or oral exam

Attendance policy

Attendance in class is compulsory

Course materials

D. Llewellyn, The Economic Rationale for Financial Regulation, 1999, available at: (PDF) The Economic Rationale for Financial Regulation (researchgate.net)

F. Recine, P. Teixeira, The new financial stability architecture in the EU, 2009, available at: The New Financial Stability Architecture in the EU by Fabio Recine, Pedro Gustavo Teixeira :: SSRN

B. Haar, Financial Regulation in the EU – cross-border capital flows, systemic risk and the European Banking Union as reference points for EU financial market integration, 2014, available at: Financial Regulation in the EU – Cross-Border Capital Flows, Systemic Risk and the European Banking Union as Reference Points for EU Financial Market Integration by Brigitte Haar :: SSRN

Law and Practice of the Banking Union and of its governing Institutions (Cases and Materials), edited by Raffaele D’Ambrosio, 2020, Quaderni della Consulenza legale della Banca d’Italia, available at: Banca d'Italia - N. 88 - Law and Practice of the Banking Union and of its governing Institutions (Cases and Materials) (bancaditalia.it);

Course Schedule

Class	Topic and/or Activity
1. Wed 1 March	Introduction to Financial System and Financial services
2. Mon 6 March	Banks and Financial Markets: differences and common features
3. Tue 7 March	Intermediaries and financial products: banks, investment firms, investment funds, pension funds, insurance companies
4. Wed 8 March	The Goals and Strategies of Financial Regulation
5. Mon 13 March	Training exercise: Regulatory Architecture. What Matters?
6. Tue 14 March	Why Regulate Banks: Financial crisis and Financial Contagion
7. Wed 15 March	The Evolution of Banking Regulation
8. Mon 20 March	Crises Management of Banks: The Bank Recovery and Resolution Directive (BRRD)
9. Tue 21 March	Theory of Financial Markets : the role of Disclosure
10. Wed 22 March	Investor protection and MIFID
11. Mon 27 March	Training exercise: Trading and Market Integrity (case Marus Gelt v Daimler EU:C:2012:397)
12. Tue 28 March	The Common Market for Financial Services and the Harmonization process
13. Wed 29 March	The Financial Services Authorities in Europe
14. Mon 3 April	The Financial services authorities post global crisis
15. Tue 4 April	Training Exercise: Case C-270/12 of 22 January 2014, United Kingdom v Parliament and Council (the Regulatory Powers of European Agencies)
16. Wed 5 April	The Banking Union
17. Wed 12 April	The Single Supervisory Mechanism
18. Mon 17 April	Training Exercise: Case T-122/15 of 16 May 2017 Landeskreditbank Baden-Württemberg v ECB
19. Tue 18 April	The Single Resolution Mechanism
20. Wed 19 April	The Resolution of banks: case studies
21. Wed 26 April	Training Exercise: Case C-526/2014 of July 2016, Tadej Kotnik and others v Državni zbor Republike Slovenije
22 Tue 2 May	Training Exercise: Case C-105/15, of 20 September 2016, Konstantinos Mallis and others v European Commission and European Central Bank.
23. Wed 3 May	State Aids and Resolution for Banks
24. Mon 8 May	Training exercise: Judgment of the General Court T-98/16 Tercas Italian Republic and Others v European Commission
25. Tue 9 May	The administrative and judicial review of the decisions taken within the SSM and the SRM
26. Wed 10 May	Training exercise: the ECJ C-219/17 Fininvest and Berlusconi
27. Mon 15 May	Training exercise T-712/15 and T-52/16, Joined Cases C-152/18 P and C-153/18 P, Crédit Mutuel Arkéa
28. Tue 16 May End of the Course	Training exercise: Case T-733/16, Banque Postale v ECB; Case T-745/16, BPCE v ECB


To Be Announced (TBA) or Date, if known	FINAL EXAM

Full course information on the Law Department site

COURSES AND SEMINARS (ES) COURSES (GLS) COURSES (MD)

Academic Year 2022-2023

Info Contacts:

Eu Financial Law: Institutional Framework 2022

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