RTPR has obtained the clarification of the consumer concept for the unprofessional investors trading on financial instruments platforms. Following a request for a preliminary ruling from a national court in a litigation conducted by RTPR, the Court of Justice of the European Union (CJEU) set clear criteria to distinguish between the individual investors and the professional investors. The European Court has ruled that the unprofessional investor is seen as consumer regardless of the volume, value and frequency of the transactions carried out, as long as it operates without a professional title – it is not certified and does not provide investment consultancy or services.

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