TL;DRAbstract
Product regulation, the advice/sales process and product/firm disclosures are the major preoccupations of EC retail market policy, reflecting the shape of EC retail market investment. But the retail trading sector, which is strongly associated with direct equity and debt investments although retail investors also trade in listed collective investments, while small, remains significant for retail policy. Advances in technology mean that retail investors now have greater freedom to trade directly through low-cost execution channels. Online brokerage services, particularly those supplied by bank-based ‘financial supermarkets’, are growing. Before the financial crisis, share clubs had become increasingly popular mechanisms for accessing the markets in the UK, while, for a smaller subset of the retail market, online, execution-only dealing in contracts for differences was increasing. Retail market interests have also been highlighted in the high-profile debate on US/EC mutual recognition of
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Product regulation, the advice/sales process and product/firm disclosures are the major preoccupations of EC retail market policy, reflecting the shape of EC retail market investment. But the retail trading sector, which is strongly associated with direct equity and debt investments although retail investors also trade in listed collective investments, while small, remains significant for retail policy. Advances in technology mean that retail investors now have greater freedom to trade directly through low-cost execution channels. Online brokerage services, particularly those supplied by bank-based ‘financial supermarkets’, are growing. Before the financial crisis, share clubs had become increasingly popular mechanisms for accessing the markets in the UK, while, for a smaller subset of the retail market, online, execution-only dealing in contracts for differences was increasing. Retail market interests have also been highlighted in the high-profile debate on US/EC mutual recognition of
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