| Popis: |
This chapter examines the dual role of investment firms in accountability through damages claims. It begins by looking at the opportunities to promote accountability for the investment firms themselves, focusing on the relevant passage in MiFID II (Article 69(2)(3)) and the conditions to be satisfied. The chapter then considers the opportunities for investment firms to act as agents for the rule of law by holding EU and national authorities accountable through actions for damages. The underlying theory in this presentation is that damages liability can contribute to accountability, and thereby to deterrence from infringements of MiFID II and MiFIR. Consequently, the chapter argues that damages liability should be promoted as an instrument of the rule of law in the financial markets. |
