Private and Public Enforcement of EU Investor Protection Regulation

Overtime, some of the core provisions that traditionally identify, in the context of MiFID, the investors’ protection regime, have become a template for the protection of consumers and “end-users” of financial services and products in other areas of EU Legislation. Those same provisions – whose pivot are the overreaching rules on the duty of care, suitability, conflicts of interest, inducements, best execution – gradually evolved from being specific to the investment services regime, to becoming widespread standards that inspire EU Legislation in other sectors. This paper will show, first of all, how this phenomenon actually evolved, and how MiFID standards are effectively challenging the still prevailing sectoral approach followed, in the EU, with regards to financial markets regulation. Some of the main consequences of the expansion of the MiFID regime will also be discussed, including those that relate to enforcement and judicial protection; ultimately, some conclusions will be drawn, and a few suggestions will be set out for future analysis