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EU Securities and Financial Markets Regulation, 3rd Edition by Moloney, Niamh (23rd October 2014)

IX The Retail Markets

From: EU Securities and Financial Markets Regulation (3rd Edition)

Niamh Moloney

European Securities and Markets Authority (ESMA) — Investment business
Retail market-orientated 1 regulation in the securities and markets sphere can be associated with two objectives: the traditional objective of protecting investors and the objective of promoting long-term household saving through the markets, which is more recent in origin. With respect to the first objective, investor protection-directed regulation in the retail markets has long been concerned with addressing market failures arising from the wide information asymmetry between retail investors and professional market actors, and from the related risks and costs. 2...
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