In the wake of the global financial crisis, investors have suffered significant losses as a result of breaches of conduct of business rules in the distribution of financial instruments. MiFID II introduced new disclosure, distribution and product governance rules to strengthen the protection of investors but, like MiFID I, did not harmonise the civil law consequences for their violation. This book asks whether, in spite of the silence of the EU legislators, the MiFID II conduct of business rules may produce civil law effects, enabling investors to enforce them against investment firms before national courts and alternative dispute resolution (ADR) mechanisms. Building on the case law of the CJEU, the book shows the conditions under which the breach of MiFID II conduct of business rules should give rise to a private law remedy, and what remedies would be compatible with EU law. MiFID II and Private Law is an essential contribution to academic research in EU and financial law and will be a key text for policy-makers and legal practitioners working in the field of investor protection regulation and mis-selling litigation.

In the wake of the 2008 Global Financial Crisis, misconduct and unfair contract terms in financial services contracts triggered a wave of litigation before national courts. Litigation did not remain a national law issue but soon became an EU law issue. National courts sought, through the preliminary reference procedure, the Court of Justice of the European Union (CJEU)'s guidance to interpret EU financial services legislation and determine the scope of consumers' rights and private law remedies vis-à-vis financial service providers (FSPs). The high number of CJEU's rulings have significantly innovated numerous EU and national private law rules on financial services contracts. The CJEU has often expanded consumers' private law remedies, based on general principles of EU law, beyond the letter of the law, thus 'creating' new private law principles for these contracts. This book provides the first comprehensive and systematic analysis of the rapidly evolving and complex CJEU case law on retail credit, payment, and investment services contracts. It extensively discusses the rationales of the CJEU's judgments and gives guidance on the role of general principles of EU law in the CJEU's reasoning. This volume identifies emerging principles of private law which should apply across credit, payment, and investment services contracts. Building on this analysis, the work provides an assessment of the significant legal and policy implications of the CJEU case law on national and EU private law.

In the wake of the global financial crisis, investors have suffered significant losses as a result of breaches of conduct of business rules in the distribution of financial instruments. MiFID II introduced new disclosure, distribution and product governance rules to strengthen the protection of investors but, like MiFID I, did not harmonise the civil law consequences for their violation. This book asks whether, in spite of the silence of the EU legislators, the MiFID II conduct of business rules may produce civil law effects, enabling investors to enforce them against investment firms before national courts and alternative dispute resolution (ADR) mechanisms. Building on the case law of the CJEU, the book shows the conditions under which the breach of MiFID II conduct of business rules should give rise to a private law remedy, and what remedies would be compatible with EU law. MiFID II and Private Law is an essential contribution to academic research in EU and financial law and will be a key text for policy-makers and legal practitioners working in the field of investor protection regulation and mis-selling litigation.