Carlo Comporti's keynote speech at the 13th Joint ESAs Consumer Protection Day, 4 November 2026
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First public speech by Carlo Comporti as the new ESMA Chair (he took office that same week), at the ESAs' Consumer Protection Day in Rome. He sets out his approach to investor protection.
Key points
- Substantive protection rather than formal compliance: handing over documents or ticking boxes is not enough; more information is not better information.
- Simplify the 'investor journey' without lowering safeguards; attention to the design of digital platforms (rankings, notifications, speed of execution).
- Supervision based on real outcomes: data analysis, behavioural studies, consumer testing and mystery shopping.
- The three ESAs will soon publish a joint repository of financial education initiatives; ESMA-EIOPA cooperation on the Retail Investment Strategy.
Who is affected
Retail investment distributors and platforms, asset managers, national supervisors.
Plain-language version
Carlo Comporti, the new chair of ESMA, the EU watchdog for stock markets and investment products, gave his first speech, focused on protecting small investors. He says handing you a pile of documents is not enough: more information is not better information. He also wants to look at how investing apps design rankings, notifications and fast trading, because they shape your decisions.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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