#2026-2Ordinance No. 2026-2 on Distance Marketing of Financial Services to Consumers
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law aims to enhance consumer protection in the distance marketing of financial services in France. It mandates that financial service providers offer clear information regarding the contracts concluded online, including the right of withdrawal. It also establishes guidelines for the presentation of contract information and facilitates the exercise of rights by consumers, ensuring they are well-informed before entering into agreements.
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Key Changes
- Contracts concluded online must include a feature allowing consumers to exercise their right of withdrawal.
- Providers must give consumers detailed pre-contractual information about the services offered.
- New provisions require clear communication of the purpose of calls made to consumers regarding financial contracts.
Obligations
What this law requires
Financial service providers must provide pre-contractual information in a timely manner (before distance contract conclusion) covering: provider identity and contact details, financial product information, withdrawal rights and procedures, total price including all commissions and charges, applicable law and jurisdiction, and environmental/social objectives (if applicable).
For online contracts, financial service providers must make available to consumers at no cost a withdrawal functionality that allows free exercise of withdrawal rights before the deadline expires, with easy, direct, and permanent access.
Pre-contractual information must be provided in a clear, comprehensible, and readable manner adapted to the distance communication technique used. For written supports, information must be legible. On request, information must be provided in formats accessible to persons with disabilities, including visual impairments.
When information is provided less than one day before contract conclusion, the provider must remind the consumer of their withdrawal right and procedures via a durable medium between 1-7 calendar days after contract conclusion.
Financial service providers must provide free, adequate explanations before contract conclusion concerning: pre-contractual information, essential contract characteristics, specific effects on the consumer including payment default consequences, and any other information allowing evaluation of contract suitability to consumer needs and financial situation.