Kapitalmarktinvestmentprodukte: Horizontaler Privatanlegerschutz im Lichte der MiFID II

The concept of EU retail investor protection faces far-reaching changes. Doubts about the notion of unlimited information efficiency challenge the information model of Capital Market Law. Instead, the EU legislator relies on instruments with paternalistic tendencies and regulates investment products and suppliers increasingly. The regulation of retail investment products is based on a uniform approach for a variety of products and fields of law in order to harmonize hitherto disparate regulatory regimes. Against this background the question arises in how far there is a regulatory change from a merely market-complementary to a market-compensatory approach. In the light of recent case law and the financial markets directive MiFID II, this dissertation identifies dogmatic principles and regulatory instruments and analyzes the convergence of retail investor and consumer protection law.