EU rules on distance marketing of financial services
European rules on distance marketing of financial services protect consumers when they sign a contract with a retail financial services provider (hereinafter “providers”) in another EU country.
The rules provide the following rights
consumers must receive comprehensive information from the providers before a contract is concluded
consumers can withdraw from the contract during a cooling-off period
providers must not use abusive marketing practices seeking to oblige consumers to buy a service they have not solicited, known as inertia selling
providers must not use practices such as unsolicited phone calls and e-mails, known as cold calling and spamming