Along came a spider...

I. Financial services and consumer protection

I.A. The traditional information paradigm versus new means of consumer protection

6.1 (EU) Prospectus Directive, 4 November 2003. O·H
6.2 (EU) I Ramsay, From Truth in Lending to Responsible Lending, 2004.
6.3 (UK) FSA, Financial Capability in the UK: Delivering Change. H

I.B. Access to financial services

6.4 (UK) HM Treasury, Financial Inclusion, The Way Forward. H

I.C. Structure of the chapter

II. Consumer protection in the field of credit services

II.A. Introduction

II.B. Access to credit services

6.5 (EU) Consumer Credit Directive, 23 April 2008. O·H
6.6 (UK) House of Lords (European Union Committee), 2005. H
6.7 (EU) F Ferretti, The Regulation of Consumer Credit Information Systems: is the EU Missing a Chance?, 2007.
6.8 (FI) Consumer Ombudsman's Newsletter: Data Protection Ombudsman Says No. H

II.C. Who is protected by the rules

6.9 (EU) Consumer Credit Directive, 23 April 2008. O·H
6.10 (FR) Cour de cassation, chambre civile 1, 18 December 2001, Vilbert v Crédit Commercial de France, Mixed credit. O·H
6.11 (DE) Bürgerliches Gesetzbuch (BGB). O·H
6.12 (UK) Consumer Credit Act 2006, 2006. O·H
6.13 (EU) ECJ Case C-208/98, 23 March 2000, Berliner Kindl Brauerei AG v Andreas Siepert, Guarantee for the brewery. O·H

II.D. Consumer Protection mechanisms

II.D.1. Information requirements

II.D.1.a. The harmonisation of the information requirements under consumer credit Directive
6.14 (EU) Consumer Credit Directive, 23 April 2008. O·H
6.15 (EU) Consumer Credit Directive, 23 April 2008. O·H
6.16 (EU) Consumer Credit Directive, 23 April 2008. O·H
II.D.1.b. Formalities at the core of the consumer credit protection
6.17 (EU) ECJ Case C-429/05, 4 October 2007, Max Rampion and Marie-Jeanne Godard v Franfinance SA and K par K SAS, Windows infested with parasites.. O·H
6.18 (FR) Cour de cassation, Chambre civile 1, 29 October 2002, Epoux X v Crédit Foncier de France, Crédit foncier de France. O·H
6.19 (EU) ECJ Case C-264/02, 4 March 2004, Cofinoga Mérignac SA v Sylvain Sachithanathan, Cofinoga. O·H

II.D.2. Other substantive protection rules, including 'responsible lending'

6.20 (NL) AFM, Report on Consumer Credit.
6.21 (EU) Consumer Credit Directive, 23 April 2008. O·H
6.22 (FR) Cour de cassation, chambre civile 1, 12 July 2006, Fillol v UCB, Excessive mortgage. O·H
6.23 (EN) England and Wales Court of Appeal (Civil Division) Decision, 15 October 2001, Paragon Finance PLC v Staunton and Nash, Unfettered interest rates?. O·H

III. Consumer protection in the field of investment services

III.A. Introduction

III.B. Access to investment services

6.24 (EU) Final Report of the Committee of Wise Men on the Regulation of European Securities Markets (Lamfalussy Committee), 15 February 2001. H
6.25 (EU) S Choi, Regulating Investors, Not Issuers: Market Based Proposal, 2000.

III.C. Who is protected by the rules

6.26 (EU) European Commission, White Paper on Enhancing the Single Market Framework for Investment Funds, 15 November 2006. O·H

III.C.1. The prospectus Directive

6.27 (EU) Prospectus Directive , 4 November 2003. O·H

III.C.2. The UCITS Directive

6.28 (EU) UCITS Directive , 13 July 2009. O·H

III.C.3. MiFID

6.29 (EU) MiFID, 21 April 2004. O·H
6.30 (EU) MiFID Implementing Directive , 10 August 2006. O·H
6.31 (FR) Cour de cassation, chambre commerciale , 18 February 2004, Losses on futures. O·H

III.D. Consumer Protection mechanisms

III.D.1. The prospectus Directive

6.33 (EU) The Prospectus Directive , 4 November 2003. O·H

III.D.2. The UCITS Directive

6.34 (EU) The UCITS Directive, 13 July 2009. O·H
6.35 (EU) CESR‟s advice to the European Commission on the content and form of Key Information Document disclosures for UCITS. H

III.D.3. MiFID

III.D.3.a. Duty of care
6.36 (EU) MiFID , 21 April 2004. O·H
6.37 (EU) Gerechtshof 's-Hertogenbosch (Court of Appeal), 6 November 2007, Dexia Legiolease. O·H
III.D.3.b. Conflicts of interest situation
6.38 (EU) MiFID, 21 April 2004. O·H
6.39 (BE) Hof van Beroep Antwerpen (Court of Appeal), 16 September 1997, The bankrupt company director. O
6.40 (EU) MiFID implementing Directive, 10 August 2006. O·H
6.41 (IT) Corte di Cassazione (Supreme Court), 19 December 2007, Parmalat - Cirio. O
III.D.3.c. Information requirements
i) Quality of the information
6.42 (EU) MiFID, 21 April 2004. O·H
6.43 (EU) MiFID Implementing Directive, 10 August 2006. O·H
6.44 (DE) Der Bundesgerichtshof (BGH), 9 June 1998, Insufficient risk warnings. O
ii) Minimum information and representation of the information
6.45 (EU) MiFID, 21 April 2004. O·H
iii) Harmonised information requirements and non harmonised rules of civil procedure
6.46 (BE) Hof van Beroep (court of appeal) Brussels , 23 January 2004, disastrous investment in futures. O·H
III.D.3.d. 'Know your customer' – principles of suitability and appropriateness
i)Investment and advise and portfolio management – suitability test
6.47 (EU) MiFID , 21 April 2004. O·H
6.48 (EU) UK Financial Services Authority, Quality of advice process in firms offering financial advice: findings of mystery shopping research. H
ii) Other investment services – appropriateness test
6.49 (EU) MiFID , 21 April 2004. O·H
iii) Insufficient information – consequences
6.50 (EU) MiFID Implementing Directive, 10 August 2006. O·H
6.51 (EU) MiFID, 21 April 2004. O·H
III.D.3.e. Best execution
6.52 (EU) MiFID, 21 April 2004. O·H

IV. Consumer protection in the field of banking and payment services

IV.A. Introduction

6.53 (EU) Charlie McCreevy, SEPA: An opportunity for Europe - Role of the public sector, 8 May 2007. H

IV.B. Access to banking and payment services

6.54 (BE) Act concerning the basic banking service, 24 March 2003. O·H
6.55 (FR) Decree no 2001-45 of 17 January 2001 implementing article L. 312-1 of the monetary and financial code, 17 January 2001. O·H
6.56 (DE) Landgericht Bremen (Court of Appeal), 16 June 2005, x v Bank, A current account for everyone?. O·H
6.57 (DE) OLG Bremen (Court of Appeal), 22 December 2005, x v Bank, A current account for everyone? (Appeal). O·H

IV.C. The consumer of banking and payment services

6.58 (EU) Payment Services Directive , 13 November 2007. O·H
6.59 (EU) Payment Services Directive , 13 November 2007. O·H

IV.D. Consumer protection mechanisms

IV.D.1. Information requirements

6.60 (EU) Payment Services Directive , 13 November 2007. O·H

IV.D.2. other substantive protection rules

6.61 (EU) Directive on deposit-guarantee schemes , 30 May 1994. O·H
6.62 (EU) Communication from the Commission concerning the review of Directive 94/19/EC on Deposit Guarantee Schemes. O·H
6.63 (EU) Payment Serices Directive, 13 November 2007. O·H
6.64 (DE) Der Bundesgerichtshof (BGH), 5 October 2004, Stolen PIN code. O·H
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