The Duty to Inform and Voidable Investment Orders

by Maddalena Semeraro

The definition of the relationship between framework contracts and individual investment orders has always been the subject of debate both in legal scholarship and in case law, as it is functional to the solution of various application issues. One of these is the identification of a remedy available to a client in the event of the intermediary’s non-compliance with the obligations to obtain information. Once again, the Supreme Court has ruled on this question in a way that differs from previous perspectives, by opening itself up to considering the economic operation as a whole in procedural terms, which is particularly useful in clarifying the position of the intermediary in the light of the duty to protect the best interests of the client, as prescribed by Art 21 of the TUF (Financial Services Act).

DOI 10.23815/2421-2156.ITALJ           ISSN 2421-2156

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