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Article 424

  • 1

    A financial service provider shall carefully consider the legitimate interests of the consumer or beneficiary.

  • 2

    A financial service provider who advises is acting in the best interest of the consumer or beneficiary.

  • 3

    With respect to the first and second paragraphs, the Financial Markets Authority shall only apply Article 1:75 in the event of evident misconduct that could damage confidence in the financial service provider or in the financial markets.

  • 4

    Our Minister shall, within three years of the entry into force of this article, send to the States General a report on the effectiveness and effects of this article in practice.

Information valid on 01-05-2021

Regulations based on this article (delegated regulations)

No

Policies and circulars that have this article as legal authority

No

Articles or similar text referring to this article

  1. Financial Sector Administrative Fines Decree
    article: 10

  2. Wft exemption regulation
    Art: 47

  3. Financial Supervision Act
    annex: to article 1:79 Financial Supervision Act
    article: 4:18

Summary of changes for this article

(01-05-2021)

Origination source

Entry into force

Effective date

Retroactivity

Subject

Signature

Announcement

Chamber documents

Signature

Announcement

Note

2014

new

2013

Stb. 2013, 487

33632

2013

Stb. 2013, 552