Regulatory Alerts2022-10-27
Regulation No. 55/2022 on Financial Service Consumer Protection
Issued by the financial supervisory authority, Regulation No. 55/2022 mandates comprehensive consumer protection standards for financial service providers, requiring robust governance structures, transparent pricing and disclosure practices, and equitable contract management. The regulation establishes specific safeguards against over-indebtedness, fraud, and discriminatory practices while mandating accessible digital services and clear communication channels. It further defines administrative sanctions for non-compliance, whistleblower protections, and sector-specific rules for insurance and pension services to ensure consistent financial consumer treatment.
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