The European Directive on Markets in Financial Instruments and its implementing Directive impose on investment firms among others rules of conduct that have to be respected when providing investment services to their clients. The aim of these rules is to preserve the investors' interests. Several of these rules of conduct create the obligation for the investment firm to provide the investor with information as well as the obligation to obtain information from the investor. The aim of this paper is to discuss and evaluate these information requirements. More specifically, the article aims at investigating whether these rules will be effective in protecting private investors.