Disclosures are among the most common techniques introduced. The purpose of such regulation is to correct, for the benefit of the potential retail investor, information asymmetries relating to the characteristics of the financial products and the motivations of the intermediary advisor. The devil is in the detail, however, and it has become apparent that disclosing without assessing “how” to disclose may create unexpected and harmful side-effects. For this reason, there is a need for a research agenda centered on the limits deriving from motivation in the use of financial information and in good decision- making. This research design would disentangle connections between financial law and emotions and, in particular, financial law and happiness as well as financial law and altruism.
HELLERINGER, G. (2015). Retail Investors and Disclosure Requirements. In: European Perspectives on Behavioural Law and Economics. 1st ed. Springer, pp. 193-209.