Abstract
Mis-selling is a serious problem disrupting trust of investors in financial markets. As behavioural research gradually exposed, mis-selling is inextricably linked to mental weakness(es) in the decision-making process that have not been sufficiently reflected in the European financial service legislation. The recent set of legislation indicates a change in the regulatory approach to financial product distribution (FPD) and introduces new legal instruments poised to cope with mental weaknesses through a more robust and elaborate investor protection regime. This paper offers a critical review of the selected legislative amendments and surveys whether they improve the quality of investor protection; finally, it analyzes implications of Brexit for FPD.
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