European Protection of Retail Investors in Insurance-Based Investment Products: Product Interventions under PRIIPs

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11220%2F21%3A10429399" target="_blank" >RIV/00216208:11220/21:10429399 - isvavai.cz</a>

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=cIM63ZSaJS" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=cIM63ZSaJS</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

European Protection of Retail Investors in Insurance-Based Investment Products: Product Interventions under PRIIPs

Popis výsledku v původním jazyce

The main goal of the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs) is to enhance investor protection standards for retail investors, in particular enabling them to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a short and consumer-friendly Key Information Document (KID). The regulation does not regulate advertisement information and does not aim to intervene in the measures associated with particular products otherways than in connection with the investment component. However, it contains authorisation for both EIOPA and the national regulators to set up remediation measures and restrict the distribution of particular products with investment component or particular types of financial activities. PRIIPs thus presents a kind of negative regulation of product development. The envisaged intervention mechanism is similar to those established in the framework of MiFID II and MiFIR. The authors mainly use the research methods of legal comparison, critical analysis, synthesis and deduction. The objective of the study is to clarify the impact of the above-mentioned rights of the regulatory bodies to the autonomy of will and the freedom of contract. The result of this study implies that the restrictive measures envisaged by PRIIPs may be applied only ultima ratio and are associated with private law liability.

Název v anglickém jazyce

European Protection of Retail Investors in Insurance-Based Investment Products: Product Interventions under PRIIPs

Popis výsledku anglicky

The main goal of the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs) is to enhance investor protection standards for retail investors, in particular enabling them to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a short and consumer-friendly Key Information Document (KID). The regulation does not regulate advertisement information and does not aim to intervene in the measures associated with particular products otherways than in connection with the investment component. However, it contains authorisation for both EIOPA and the national regulators to set up remediation measures and restrict the distribution of particular products with investment component or particular types of financial activities. PRIIPs thus presents a kind of negative regulation of product development. The envisaged intervention mechanism is similar to those established in the framework of MiFID II and MiFIR. The authors mainly use the research methods of legal comparison, critical analysis, synthesis and deduction. The objective of the study is to clarify the impact of the above-mentioned rights of the regulatory bodies to the autonomy of will and the freedom of contract. The result of this study implies that the restrictive measures envisaged by PRIIPs may be applied only ultima ratio and are associated with private law liability.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50501 - Law

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Investment Law Journal [online]

ISSN

2734-8830

e-ISSN

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Svazek periodika

1

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

RO - Rumunsko

Počet stran výsledku

9

Strana od-do

115-123

Kód UT WoS článku

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EID výsledku v databázi Scopus

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