ECO0430 - REGULATION AND TAXATION OF FINANCIAL ACTIVITIES AND PRODUCTS

courses

ID:

ECO0430

Duration (hours):

40

CFU:

Year:

2025

Date/time interval

Primo Semestre (15/09/2025 - 12/12/2025)

Course Objectives

The course aims to provide students with knowledge of the principles and rules governing, on the one hand, private law relationships between financial intermediaries and clients and, on the other, the taxation of financial instruments. At the end of the course, students will be familiar with the main dynamics of financial taxation. With regard to private law, students will learn about the main conduct obligations of financial intermediaries and the main instruments for protecting clients. In addition, students will be able to apply the knowledge acquired in the search for solutions to new or more complex problems, but still related to the logical-legal frameworks learned.

Course Prerequisites

No prerequisites are required. However, prior knowledge of the fundamentals of private law and tax law is recommended.

Teaching Methods

The course, which totals 40 hours, will consist of lectures and, where appropriate, seminars on specific topics of interest within the course, with the possible involvement of professionals who are experts in the field. Students have the opportunity to follow no more than two-thirds of the course lessons remotely, in synchronous mode. The aim of the lectures is to facilitate interaction with the students, who, following the teacher's explanation, can ask questions related to the topic covered and make observations and critical comments. Attendance at the course is strongly recommended. Non-attending students must agree with the teachers on some readings for the purpose of preparing for the exam. For the tax part, it should be noted that in-depth materials will be made available to students on the e-learning platform to replace institutional textbooks. For the private law part, it should be noted that the exam text is indicated on Leganto; additional teaching materials may be provided on the e-learning platform.

Assessment Methods

The exam will be oral. With regard to the tax law section, candidates must demonstrate that they have correctly understood the peculiarities of the taxation regime for financial activities. To this end, the examination will focus mainly on the topics covered in class, as well as on the supporting materials provided by the lecturer. With regard to the private law section, candidates must demonstrate that they have correctly understood the topics covered in the programme, discussed in class and in the teaching materials indicated.

With regard to taxation, the course will focus on the following topics: - Financial taxation and its categories: the distinction between capital income and other income of a financial nature and its overcoming as provided for by the enabling law for tax reform. - The tax treatment of the main financial products: debt instruments and equity instruments. - The tax treatment of crypto-assets. - The withholding agent: withholding tax and advance tax. - The declaratory regime, the administered savings regime and the managed savings regime. - Tax monitoring and exchange of information between different jurisdictions. With regard to private law regulation, the course will focus on the following topics: - Constitutional protection of savings. - Regulatory principles of the financial market. - Transparency in financial intermediation. - Regulatory segmentation by customer segment. - Adequacy, appropriateness and execution-only regimes. - Contractual rules in financial intermediation. - Private remedies in the event of a breach of the rules of conduct.