Consumer protection under MiFID II, MiFIR and the competence of EU institutions and EU Member States in the financial literacy of the society

Abstract

The main purpose of this research is to analyze – how the consumer is protected under the MiFID II, MIFIR and ESMA Guidelines and how are the EU institutions and EU Member states involved in the financial literacy of the society. The author will provide the answer to the research question by looking at the case studies, as well as the scholarly materials, author will analyze legal articles of MiFID II, MIFIR and ESMA Guidelines that are protecting the Consumer, as well as author will look at the competencies of EU, its institutions and the Member States and their involvement in the financial literacy of the society. The doctrinal method is used in this research to analyze and identify the lates issues relating to the above mentioned issues. Furthermore, this research sets out also additional loopholes and further essential research in this area.