Some Selected Legal Aspects of the Activity Rules in Relation to the Financial Agent´s Clients

Abstract

The activities of financial agents deserve our attention as we can currently observe their growing share on the intermediation of financial services. The quantity of products and services offered by financial market segments requires a continuous education and the monitoring of the current legislation. Financial agents help their clients to find a financial product, which fulfills their specific needs. The client´s decision depends on the extent of the information a financial agent provides to him. The legislator imposes an obligation to act when performing financial intermediation in compliance with the principles of fair business relations, with professional care and in the interest of rights and legitimate interests of a client. However, the legislation does not define these terms. This paper aims to outline and analyze procedures in order to perform financial intermediation in accordance with regulatory requirements. Key wordsfinacial agent, professional care, fair business conduct, acting in accordance with the rights and legitimate interests of the client JEL Classification: K20, K23