{"id":143062,"date":"2023-10-25T03:00:23","date_gmt":"2023-10-25T01:00:23","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=143062"},"modified":"2023-10-24T10:32:06","modified_gmt":"2023-10-24T08:32:06","slug":"new-eu-rules-for-financial-services-contracts","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/new-eu-rules-for-financial-services-contracts\/","title":{"rendered":"New EU rules for financial services contracts"},"content":{"rendered":"

The Council has adopted a\u00a0directive concerning financial services contracts concluded at a distance<\/strong>. This is the last step in the decision-making procedure.<\/p>\n

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The text adopted simplifies existing legislation, increases consumer protection, and creates a level playing field for financial services<\/strong>\u00a0concluded online, via telephone or through other forms of remote marketing.<\/p>\n

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Today we adapt EU rules on the financial services to the digital age. From now on, consumers in the single market will be better protected when accessing new financial products and services from their phones or their computers.<\/p>\n

Alberto Garz\u00f3n Espinosa, acting Spanish Minister for Consumer Affairs<\/cite><\/p>\n<\/div>\n<\/blockquote>\n

Digital market, digital protection<\/h3>\n

The directive adopted repeals the existing legislation from 2002 and introduces new provisions for financial services contracts concluded at a distance as an additional chapter of the consumer rights directive (CRD)<\/strong>\u00a0which protect consumers in all kinds of commercial practices. It simplifies the legislative framework, and certain articles of the CRD will also apply to financial services sold at a distance.<\/p>\n

The final text of the directive:<\/p>\n