ABSTRACT
When the subject of the regulation of finance and its necessity is raised in discussion, the first thought that comes to the wider public's mind is that of battling against behaviours characterised by various forms of excess or irrationality. This chapter attempts to describe the investor's point of view in financial regulation, what it means, where it comes from and what it implies. It looks at the development of a taxpayer's point of view, related to a particular acceptation of the notion of systemic risk. The chapter draws out what could be the investee's point of view. Legal and natural persons are not just last resort decision-makers on financial markets, which are the case when they are considered as consumers, as entities that make consumer choices that just have to be clearly informed, rationalised, protected from deception, etc. They also are entities which bear the consequences of judgements produced by these same markets.
