Espace Banque & Droit

Advocating an EU Charter
for the Protection of End Users
in Financial Markets

Créé le

07.02.2023

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Mis à jour le

17.02.2023

In a context where the sectoral approach still moulds EU financial legislation, one also witnesses a slow, albeit relentless, establishment of cross-sectoral rules aimed at protecting users of services, and products of different kinds. This offers the opportunity to identify, and to single out, a number of common core, general principles that address the issue of the protection of “users” of financial services across different sectors. There are sufficient grounds to envisage the drafting of an “EU Charter” to spell out such principles for the protection of end-users in the financial sector within the EU, with a high political value and significance.

Filippo Annunziata

Associate Professor of Financial Markets and Banking Law Bocconi University, Milan
Academic Member European Banking Institute, Frankfurt
Co-Director Unit Rules BAFFICAREFIN Research Centre
Professor of Musicology Universita degli Studi di Milano

The program, and the proposals, to be found in this paper, stem from various reflections elaborated during recent years on the approach that EU financial legislation follows in relation to the protection of “clients” in different contexts. Moving from the assumption that there is no single notion of “client” in the current state of the legislation across different sectors, and that the techniques that are employed by the architraves of EU financial legislative texts vary greatly from one field to the other, the purpose of this paper is to uphold the idea that there seems to be developing a core ...