Κατεύθυνση Εταιρείες και Χρηματοδότηση
Library of the School of Law

2020-01-14

2020

Simantira Aikaterini

ΙΑΚΩΒΟΣ ΒΕΝΙΕΡΗΣ ΕΠΙΚΟΥΡΟΣ ΚΑΘΗΓΗΤΗΣ Β'ΙΔΙΩΤΙΚΟΥ ΔΙΚΑΙΟΥ ΕΚΠΑ

Η έννοια του επενδυτή καταναλωτή και η ευθύνη των Α.Ε.Π.Ε.Υ. έναντι του

Greek

The concept of investor consumer and the responsibility of investment firms

The main core of this paper consists of the explanation of the term ‘consumer investor’ as it is shaped based on the European and Greek legal system, especially after the amendments to Law 2251/1994. Every investor is not necessarily a consumer due to the fact that the investors are separated into different categories but he must have specific characteristics, which justify more favourable treatment. The term ‘consumer investor’ can only be attributed ad hoc after investigating all the particular circumstances of each situation.
At the same time, this paper analyses the responsibility of the Α.Ε.Π.Ε.Υ. (a company which provides investment services) towards the investors as defined in the field of Private Law. The latest Regulations are written right from the introduction in such a way as to give the impression that the consumer’s protection and the protection of the financial market are two separate and equal goals. Consequently, this reinforces the opinion which agrees with the position of the Courts that the rules of professional behaviour as stated in the Law 4514/2018 do not only have administrational character but also affect the relationship between an investor (consumer) and Α.Ε.Π.Ε.Υ. Specifically, the main goal of these provisions is the protection of the investors, having a direct effect on Private Law. Also, these provisions are a useful guide on which investigations can be based as to whether the non-specific term of ‘good faith’ regarding all the legal relationships, has been observed or not.
As a result, it seems necessary to examine the rules of professional behaviour combined with the term of ‘good faith’, which has a transformative function and leads to the responsibility of Α.Ε.Π.Ε.Υ. to be activated towards the consumer investor if they are violated. However, except for the responsibility based on Civil Law, when the investor also has the characteristics of a consumer, the provisions of Law 2251/1994, which constitute a suitable vehicle for rehabilitation, are provided.

Law and Legislation

Commercial Law
Company law

investor, consumer, investment firms, responsibility

No

0

No

65

110

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https://pergamos.lib.uoa.gr/uoa/dl/object/2887599