pc
nid 93473
Jun 25, 2026
tojuri@vixio.com
Netherlands
Official Gazette
horizon scanning
76% of draft length
draft in Generated
Generated
2243 charsNetherlands Implements European Union Directive on Distance Financial Services Contracts
On April 8, 2026, the Netherlands enacted legislation implementing European Union Directive 2023/2673, which amends the Consumer Rights Directive 2011/83/EU regarding distance contracts for financial services. The Implementation Act for Distance Financial Services Contracts (Implementatiewet richtlijn op afstand gesloten overeenkomsten inzake financiële diensten) entered into force on June 19, 2026.
The legislation modifies the Financial Supervision Act (Wet op het financieel toezicht), Book 6 of the Dutch Civil Code (Burgerlijk Wetboek), and the Consumer Protection Enforcement Act (Wet handhaving consumentenbescherming). Key amendments include establishing a standardised digital withdrawal mechanism for distance contracts concluded through online interfaces. Financial service providers must now display a clearly visible, easily accessible function enabling consumers to submit withdrawal declarations, with unambiguous labelling indicating the contract can be terminated through this function.
The law expands consumer protections by requiring financial service providers to enable consumers to provide or confirm information within withdrawal declarations, including their name, contract identification details, and electronic contact information. Upon activation of the withdrawal function, providers must immediately confirm receipt on a durable data medium, specifying the declaration's content and submission date and time. Consumers are deemed to have exercised withdrawal rights within the applicable period if they submit the declaration before the deadline expires, with providers ensuring the function remains available throughout this period.
The legislation also introduces a 12-month and 14-day extended withdrawal period for consumers who do not receive required information from financial service providers, and clarifies accessibility requirements for websites and mobile applications. Financial service providers must notify the Authority for Consumers and Markets (Autoriteit Consument en Markt) and the Financial Markets Authority (Stichting Autoriteit Financiële Markten) immediately if services fail to meet applicable accessibility standards, detailing non-conformities and corrective measures undertaken.
Agent draft
Not run yet.
Published
1713 charsNetherlands Publishes Implementation Act for Distance Financial Services Contracts
The Netherlands has officially adopted and published the Implementation Act for Distance Financial Services Contracts.
The legislation implements Directive (EU) 2023/2673 with regard to contracts concluded at a distance for financial services by amending the Financial Supervision Act , Book 6 of the Dutch Civil Code and the Consumer Protection Enforcement Act .
Key amendments include the establishment of a standardised digital withdrawal mechanism for distance contracts concluded through online interfaces. Financial service providers must now display a clearly visible, easily accessible function that enables consumers to submit withdrawal declarations, with unambiguous labelling indicating that the contract can be terminated through this function.
The law expands consumer protections by requiring financial service providers to enable consumers to provide or confirm information within withdrawal declarations, including their name, contract identification details and electronic contact information. Upon activation of the withdrawal function, providers must immediately confirm receipt on a durable data medium, specifying the declaration's content and submission date and time.
Consumers are deemed to have exercised withdrawal rights within the applicable period if they submit the declaration before the deadline, provided that providers ensure the function remains available throughout this period.
The legislation also introduces a 12-month, 14-day extended withdrawal period for consumers who do not receive the required information from financial service providers and clarifies accessibility requirements for websites and mobile applications.
The law enters into force on June 25, 2026.