Evaluarea caracterului adecvat şi corespunzător al serviciilor de investiţii în lumina MiFID II

Mihaela GHERGHE^*

* Avocat, Baroul Bucureşti.

Motto: “The most valuable commodity I know of is information.”

ABSTRACT

The capital market is in a permanent (un-)balance between the consequences of (industry-specific) rapid development and regulatory efforts, which are often reactions to certain shocks felt at a market level. This articles reviews the obligations of investment firms to assess the suitability and appropriateness of the investment services provided to their clients. To this effect, we have analysed the recent history of the regulation, starting with the year 1993 and up to the present, in order to identify the deficiencies that the recent legislative modifications are attempting to remedy. Starting from this historical review, we have attempted to summarize the current legal framework regarding investment services, emphasizing the information gathering obligations and possible...