Trust and the (EU) Capital Market

Over the last three decades, capital market law in Europe has become genuine EU law—practically all-encompassing at the level of standard-setting and rule-making itself (including implementing acts), (somewhat) weaker at other relevant levels, namely liability issues. Mads Andenas is a true European citizen, navigating from Oslo to Sicily, Oxford to Berlin and back to London. More than virtually all other company and capital market lawyers, he, in his heart and his writings, is as well a genuine fundamental rights and values expert. Therefore, revisiting an allegedly exclusively efficiency driven European capital market law may be a particularly good topic for him—asking as its core question whether there may not be other values as well that this area of the law already de lege lata wants to further or at least de lege ferenda could further. This is namely trust and thereby as well a new mesotes between an efficiency paradigm and a paradigm of truly empowering household investment—a thrust still rather in its infancy in European capital market thinking.