Law

Financial analysts, investment advisors, and financial journalists play a key role in shaping the financial opinions of private investors and are therefore subject to legal requirements. In light of the growing influence of financial influencers, the question arises as to how they should be classified from a regulatory perspective.

In a German-Italian comparative perspective, Luca Silvani presents the judicial referral as a flexible instrument of constitutional adjudication that reflects the differing functional conditions and strategies of the Federal Constitutional Court and the Constitutional Court of Italy.

We live in an algorithm-driven and digitalized world in which human behavior is increasingly replaced by information and communication technology. This trend toward digitalization also affects capital markets, where algorithmic trading and its regulation is a prime example of the shift from human behavior to full automation.

Constitutional court standards shape constitutional law. But how abstract or context-specific should we interpret them? Drawing on pragmatist theories, Simon Pielhoff proposes a method of interpreting standards that navigates between historicization and abstraction.