The purpose of this article is to reflect about the nex topics:

Financial products issued by insurance companies and banks. Exclusion of the regulation of solicitation to the public procedures envisaged in the 1998 Con- solidated Law (“T.U.F.”) providing for matters relating to financial intermedia- tion.

Partial extension of the regulation of investment services and of solicitation to the public in the 2005 Law for the protection of savings. Provisions for the obligation to inform and for rules of conduct for insurance brokers in the 2005 Insurance Code. Further extension of the regulation and the definition of the so-called insurance financial products of index and unit-linked life assurance policies and of capitalization operations in the supplemental legislative decree of 2006.

Changes in the legal nature and in the distribution features of index and unit- linked life assurance policies.

The financial investment contract. The non-essentiality of the security function in relation to the life risk and to the randomness of benefits. The legal relevance of antitrust regulations.

Changes in the regulation of the liability of issuers and brokers.

Conclusions on aspects of contractual and extra-contractual liability.