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| Tekijä: | Cherednychenko, O. |
| Otsikko: | The regulation of retail investment services in the EU: Towards the improvement of investor rights? |
| Lehti: | Journal of Consumer Policy
2010 : DEC, VOL. 33:4, p. 403-424 |
| Asiasana: | European Union regulations law financial services investments securities investor protection rights issues |
| Kieli: | eng |
| Tiivistelmä: | In the European Union (EU), the retail investment (henceforth as: r-invmt.) services and products markets stay fragmented despite the amount of existing European Community (EC) law to protect retail investors (here as: r-invts). In addition, the recent financial crisis has decreased investor confidence in financial markets, especially the 'packaged' r-invmt. products (PRIP), e.g. investment funds or life insurance policies. In order to rebuild r-invts. confidence in PRIP, the EU Commission proposed in 2009 to extend the provisions of the 2004 Markets in Financial Instruments Directive (MiFID) to PRIP. Does the MiFID, however, fit for this purpose? This paper explores to what extent the MiFID actually allows rights on r-invts., empowering them to make use of these rights. It is concluded that investor rights and remedies should be taken more seriously when making European financial services law. |
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