Anlegerinformationen im europäisch determinierten Kapitalmarktrecht

Investor information is a focal point of capital market regulation under EU law, in particular the (mostly) fully harmonising Market in Financial Instruments Directive II (MiFID II). Based on the current state of research in economics, behavioural economics, and business psychology, this thesis demonstrates that capital market actors (laypersons and experts alike) are subject to heuristics and biases, meaning that they generally do not process information accurately. These findings are prepared for reception in (EU) law and are applied to present interpretations for the investor information requirements under MiFID II.