Sui rapporti tra assicurazione e mercati finanziari: il caso delle polizze linked

[EN] The configuration issue of insurance companies as financial intermediaries, as well as their related financial regulations, is widely discussed. This paper aims to examine the internal and european discipline applicable to the insurance-based investment products, a prototype of which is constituted by the unit or index linked policies, and to outline what margins are offered to the application of the securities regulation, without compromising the essential characteristics of the insurance contracts, and expecially their consideration.