Teaching plan for the course unit



Catalā Castellano English Close imatge de maquetació




General information


Course unit name: Tax Law, Banking and Capital Markets

Course unit code: 568965

Academic year: 2021-2022

Coordinator: Joaquin Viola Comabella

Department: Department of Private Law

Credits: 5

Single program: S



Estimated learning time

Total number of hours 125


Face-to-face and/or online activities



-  Lecture with practical component




Supervised project


Independent learning




Competences to be gained during study


— Capacity to analyse, design and assess actuarial and financial products.

— Capacity to understand the specific business, legal and accounting conditions of insurance and financial entities.

— Ability to act professionally in the actuarial and financial field, with a considerable degree of independence.


— Capacity to apply the acquired knowledge to problem-solving in new or relatively unknown environments within broader (or multidisciplinary) contexts related to the field of study.





Learning objectives


Referring to knowledge

— Learn the main legal rules governing the operation of financial markets and the people and entities that work in them.

— Recognise the people and entities that operate and act as intermediaries in the financial markets and, more specifically, in the debt and equity markets, as well as the functions of each one.

— Identify the mechanisms of supervision, monitoring and control in financial markets, as well as the standards of behaviour governing the people and entities that work in them.

— Recognise the main direct taxes that are currently in force in the Spanish tax system and their impact on transactions in the financial markets.


Referring to abilities, skills

— Understand the main contracts and transactions made in debt and financial markets.

— Analyse the main systems and mechanisms of contracting and transactions used in the primary and secondary markets.

— Identify the entities responsible for supervision, monitoring and control in the banking market and the equity market, as well as their ties to other similar bodies at supra-state and international level.

— Understand the taxation of savings products and investments in financial assets and, in general, the tax system for contracts and transactions in financial markets.


Referring to attitudes, values and norms

— Learn to understand the legal and tax implications of management decisions in financial, capitalisation and savings entities.

— Lean to ensure that bank, stock market and insurance entities comply with their obligation to provide information for administrative authorities and public control and supervision bodies.

— Gain an introduction to research in areas relating to the structure and organisation of debt, equity and insurance markets.



Teaching blocks


1. Financial institutions

1.1. Holding entities and credit institutions

1.2. Investment service companies

2. Mechanisms of supervision in financial markets

2.1. Supervision of debt markets and the Single Supervisory Mechanism

2.2. The National Securities Market Commission (CNMV) and supervision of the equity market

2.3. Restructuring of financial institutions and the Single Resolution Mechanism

2.4. The deposit insurance fund

3. Contracts and financial transactions

3.1. The current account contract

3.2. The deposit contract

3.3. Credit and loan contracts

3.4. Buying and selling of stocks and shares

3.5. Public offerings (PO)

3.6. The contract for discretionary management of investment portfolios

4. The equity markets

4.1. The primary market

4.2. The secondary market

4.3. Multilateral negotiation systems (MNS)

4.4. Systematic internalisers

5. The Spanish tax system

5.1. Spanish personal income tax (IRPF)

5.2. Spanish business tax (IS)

5.3. Spanish tax on non-residents’ income (IRNR)

6. The taxation of financial transactions

6.1. Taxation of passive banking operations

6.2. Taxation of investment operations

6.3. The tax system that is applicable to collective investment undertakings

6.4. Taxation of credit and financial institutions



Teaching methods and general organization


The course is taught through weekly lectures, in which students are expected to participate having read the relevant material provided beforehand. The focus of classes is mainly practical, as topics are presented through real case studies in which the aspects of the teaching plan that are studied in each class are particularly relevant.



Official assessment of learning outcomes


Continuous assessment consists of three exercises, handed in to students at the end of each of the three parts of the subject.

To pass the subject, students must submit and obtain a Pass grade in each exercise.


Examination-based assessment

Single assessment consists of a final examination.

The criterion for repeat assessment is the same as for single assessment.



Reading and study resources

Consulteu la disponibilitat a CERCABIB


Bataller Grau, J., Latorre Chiner, N., Olavarria Iglesia, J., Derecho de los Seguros Privados, (darrera edició).

Catāleg UB  Enllaç

Gonzalo Gonzalez, L., Sistema impositivo español: estatal, autonómico y local, (darrera edició).

Catāleg UB  Enllaç

Parejo, J.A., Cuervo, A., Calvo, A., Rodríguez, L., Manual del Sistema Financiero Español, (darrera edició).

Catāleg UB  Enllaç

Pedrós Abello, A., Manual bàsic del sistema fiscal espanyol, (darrera edició).

Catāleg UB  Enllaç

Pérez Cristóbal, J., Quintas Bermúdez, J., Sánchez Revenga, J., Introducción al sistema tributario español, (darrera edició).

Catāleg UB  Enllaç

Sánchez Calero, Fernando, Instituciones de Derecho Mercantil (2 vol), (darrera edició):

Catāleg UB  Enllaç

Sánchez Fernández de Valderrama, José L., Curso de Bolsa y Mercados Financieros, (darrera edició).

Catāleg UB  Enllaç

Tapia Hermida, Alberto J., Derecho Bancario, (darrera edició).

Catāleg UB  Enllaç

Tapia Hermida, Alberto J., Derecho del Mercado de Valores, (darrera edició).

Catāleg UB  Enllaç

Tapia Hermida, Alberto J., Derecho de Seguros y Fondos de Pensiones, (darrera edició).

Catāleg UB  Enllaç

Uria, Rodrigo/ Menéndez, Antonio, Curso de Derecho Mercnatil (2 vol), (darrera edició).

Catāleg UB  Enllaç

Vega Serrano, J.M., La regulación bancaria, (darrera edició).

Catāleg UB  Enllaç

Zunzunegui, Fernando, Derecho del Mercado Financiero, (darrera edició).

Catāleg UB  Enllaç

Zunzunegui, Fernando (dir), Derecho Bancario y Bursátil, (darrera edició).

Catāleg UB  Enllaç

“Contrato de seguro. Introducción a la Ley 50/1980”, ROY PEREZ, Cristina, Juruá, 2017

"Sistema financiero español. Manual pràctico”, GIL SALDAÑA, Alberto, Thomson Reuters, 2020

“Los Mercados financieros”, CAMPUZANO LAGUILLO, Ana Belen (et alia), Tirant lo Blanch, 2017

“Tributación de operaciones y productos financieros”, RESCALVO SANTIAGO, José Maria, Thomson Reuters, 2015

"Guia Financiera”, DOMINGUEZ, José Maria / CORRAL, Sergio, Edufinet, 2018