Servizi d'investimento e tutela dell'investitore

While playing a central role in capital markets regulation, investor protection is often more predicated than analyzed in its actual content. Focusing on European Union law, this Article discusses the different paradigms underlying investor protection in investment services and their implications. After critically describing the evolution of the EU legal system from the traditional disclosure-based paradigm to a model featuring an additional focus on the quality of the service, the Article presents and evaluates the current regime from both a legal and an economic perspective.