Sulla configurabilità di un dovere fiduciario del socio investitore istituzionale nei confronti delle società partecipate

The growing (and disruptive) presence of institutional investors in the share cap- ital of listed companies and their consequent – potential, but undisputed – ability to influence the choices of the companies in which they invest have prompted the rise of theories suggesting that institutional investors owe fiduciary duties to their in- vestee companies. This article examines whether such duties are compatible with the duties, defined by European financial markets law, that institutional investors owe to their clients and, secondly, with the rules of Italian company law.