Regulatory Alerts2018-07-19
Added · Updated
Law on the Protection of Financial Service Consumers in Distance Contracts
The Republic of Serbia enacted this law to regulate the rights of financial service consumers when negotiating contracts via distance communication. It mandates that service providers supply comprehensive pre-contractual information regarding the provider, service characteristics, costs, and dispute resolution mechanisms in a clear and timely manner. The legislation grants consumers a general 14-day right of withdrawal without penalty, with specific exceptions for market-linked services and certain insurance products, while prohibiting unsolicited financial services.
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