Abstract

This chapter discusses the regulation of financial services contracts in European Union (EU) law. It examines the economic rationales for regulating retail financial markets (market failures and behavioural) and their impact on EU financial services regulation. It outlines and reviews the main legal instruments adopted by the EU to protect consumers of financial services (i.e. ‘status’ regulation, ‘product’ regulation, regulatory requirements and private law). It shows that the Court of Justice of the European Union (‘CJEU’)’s functional interpretation of the Treaties’s rules on free movement and internal market was key to develop consumer and financial services regulation.

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