Prior to giving advice, providing an investment service, providing an ancillary service or concluding an agreement on a financial product other than a financial instrument, an investment firm or financial service provider shall provide the consumer or, if it concerns a financial instrument or insurance, the client with information to the extent reasonably relevant for an adequate assessment of that service or product. By or pursuant to a general order in council, rules can be laid down regarding the information referred to in the previous sentence. These rules may include rules on the information provided with respect to the exercise by the consumer or client of the rights referred to in Section 230x(1) and (2) of Book 6 of the Dutch Civil Code.
By general order in council it may be determined that a financial enterprise, in cases to be determined therein, in deviation from the first sentence of the first paragraph, provides all or part of the information referred to in that paragraph after entering into the agreement.
During the term of an agreement on a financial product, financial service or ancillary service, an investment firm or financial service provider shall provide the consumer, or, in the case of a financial instrument or insurance, the client, with timely information on:
material changes in the information referred to in subsection 1, to the extent that such changes are reasonably relevant to the consumer or customer respectively; and
other subjects to be designated by or under general order in council.
By or pursuant to a general order in council, rules may be established regarding the cases in which and the manner in which a financial undertaking must provide information during the term of an agreement.
By general order in council it may be determined that the information referred to in the third paragraph, in cases to be designated therein, shall only be provided at the request of the consumer or client respectively.
The information referred to in this article may be provided in standardized form.
The Netherlands Authority for the Financial Markets may, upon application, grant an exemption in whole or in part, for a limited period of time or otherwise, from the provisions under this article, insofar as they do not relate to the provision of an investment service or ancillary service, if the applicant demonstrates that it cannot reasonably be complied with and that the purposes intended to be achieved by this article are otherwise achieved.
Regulations based on this article (delegated regulations)
Decree on Conduct of Business Supervision of Financial Undertakings Wft.
Decree implementing Markets in Financial Instruments Directive 2014
Policies and circulars that have this article as legal authority
No
Articles or similar text referring to this article
Policy Rule Disclosure
text: text
Decree on Conduct of Business Supervision of Financial Undertakings Wft
Section: 49a
section: 8.1.1, 8.1.7, 8.1.4, 8 .1.6
Decree implementing Markets in Financial Instruments Directive 2014
Civil Code Book 6
article: 230x, 230y, 193f
Civil Code Book 7
article: 120
Introduction and Adjustment Act Financial Supervision Act
articles: 26, 48, 82, 94, 106
Temporary Regulation Markets in Financial Instruments Directive 2014
article: 2
Implementation Regulation Wft
article: 10
Wft exemption regulation
article: 35a, 37, 40, 44, 46, 47, 49
Consumer Protection Enforcement Act
annex: to the Consumer Protection Enforcement Act
Financial Supervision Act
article: 4:21, 4:18, 1:22, 1:19, 4:1, 4:18b, 4:2e
annex: to article 1:79 Financial Supervision Act
(01-05-2021)
|
Effective date |
Retroactivity |
Subject |
Signature |
Announcement |
Chamber documents |
Signature |
Announcement |
Note |
|
modification |
2014 |
2014 |
||||||
|
modification |
2007 |
2007 |
||||||
|
new-arrangement |
2006 |
2006 |
||||||
