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4 - Retail Investor Protection and Empowerment: Reflections from the European Union

from Part I - Institutionalization and Investor Protection

Published online by Cambridge University Press:  20 October 2022

By
Niamh Moloney
Edited by
Arthur B. Laby
Arthur B. Laby
Affiliation:
Rutgers University, New Jersey School of Law
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Summary

Resolution of the conundrum of how to protect retail investors while supporting their access to the capital markets is one of the most intractable problems in modern financial regulation.1 Regulation must grapple with multiple and longstanding market failures2 as well as with the distinct, exacerbating behavioral challenges of retail market investment.3 Further, while significant welfare losses can follow from sub-optimal levels of market participation,4 regulatory transaction costs can be high and protection can quickly become obstruction.5

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The Cambridge Handbook of Investor Protection , pp. 76 - 94
Publisher: Cambridge University Press
Print publication year: 2022

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