Putting Financial Regulation to Work: Using Simplification and Visualization for Consumer-Friendly Information

in Erich Schweighofer et al. (Eds.), Networks. Proceedings of the 19th International Legal Informatics Symposium IRIS 2016. Österreichische Computer Gesellschaft OCG, Wien 2016, pp. 399–406 (ISBN 978-3-903035-09-6), and in Jusletter IT, 25 February 2016

8 Pages Posted: 27 Mar 2017

See all articles by Marika Salo

Marika Salo

University of Vaasa

Helena Haapio

University of Vaasa, Department of Economics and Business Law ; Lexpert Ltd

Stefania Passera

Aalto University School of Science

Date Written: February 25, 2016

Abstract

Financial regulation and investment products have become more and more complex. Informa-tion disclosures tend to be off-puttingly long and densely texted documents. Investor behavior studies indicate that investors often skip and skim information – and even worse, sometimes they do not read it at all. Investors’ abilities to comprehend and use financial information give no reason to cheer, either. Fortunately, we have tools to overcome complexity. Build-ing on our previous work where we have applied simplification and visualization to improve the communication of contracts, this paper explores the use of these approaches to financial communication.

Keywords: Communicating complex financial information, key information documents (KIDs), proactive/preventive investor protection, simplification, visualization

Suggested Citation

Salo, Marika and Haapio, Helena and Passera, Stefania, Putting Financial Regulation to Work: Using Simplification and Visualization for Consumer-Friendly Information (February 25, 2016). in Erich Schweighofer et al. (Eds.), Networks. Proceedings of the 19th International Legal Informatics Symposium IRIS 2016. Österreichische Computer Gesellschaft OCG, Wien 2016, pp. 399–406 (ISBN 978-3-903035-09-6), and in Jusletter IT, 25 February 2016 . Available at SSRN: https://ssrn.com/abstract=2941456 or http://dx.doi.org/10.2139/ssrn.2941456

Marika Salo

University of Vaasa ( email )

P.O. Box 700
P.O. Box 700
Vaasa, FI-65101
Finland

Helena Haapio (Contact Author)

University of Vaasa, Department of Economics and Business Law ( email )

P.O. Box 700
Wolffintie 34
Vaasa, FI-65101
Finland

Lexpert Ltd ( email )

Pohjoisranta 20
Helsinki, FI-00170
Finland

HOME PAGE: http://www.lexpert.com

Stefania Passera

Aalto University School of Science ( email )

P.O. BOX 17700
Espoo, Aalto FI-00076
Finland

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