I contratti ibridi nei mercati finanziari

[Machine translation] The recent evolutionary path of the banking, financial and insurance sectors is characterized by their increasing integration and marked by the emergence of contractual cases with hybrid functional attitudes (savings, financing, investment and pension). This path leads to the overlapping of operational contexts governed by autonomously structured and apparently non-communicating regulatory sources, such as the two single banking and financial texts and the Private Insurance Code. The consequence is a scenario characterized by significant interpretative uncertainties and by recurring problems of qualification and selection of the discipline actually applicable. In the face of complex figures proposed by practice, the idea of the inadequacy of the current architecture of the financial sensu side is looming on many sides, the affinity of the negotiating structures and the commonality of principles is highlighted, and the time is ripe for a regulatory review of the system in a unified sense. The analysis of the functional characteristics exhibited by hybrid relationships shows, however, that the configuration of the current system retains its own value and finds its reasonableness in the inhomogeneity of the guaranteed interests, from time to time, of customers, investors and insured persons.