of July 18, 2014 No. 157
About the conclusion and execution of agreements at distance on consumer financial services
The Parliament adopts this organic law.
This law creates the legal basis for application of provisions of the Directive 2002/65/EU of the European Parliament and Council of September 23, 2002 about remote marketing of consumer financial services and modification of the Directive 90/619/EEC of Council and Directives 97/7/EU and 98/27/EU published in the Official magazine of the European Union No. L271/16 of October 9, 2002.
The purpose of this law are development of the legal base necessary for ensuring protection of economic consumer interests by establishment of conditions of informing consumers before and after the conclusion of agreements at distance on consumer financial services, and also creation of legal conditions for reduction of risks of suppliers by provision of such type of service.
(1) Subjects of this law are the consumers and suppliers of consumer financial services realizing financial services within the scheme of sales or provision of services at distance managed by the supplier and intermediaries involved in sale of financial services. The provisions of this law concerning obligations of the supplier, which are especially connected with informing consumers are applicable also to the intermediary in case of sale of financial services to the consumer through the intermediary.
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