Code: 4.1.1 · Adults
Understands that in the EU consumer protection measures apply equally to financial operations by regulated entities, whether carried out digitally or physically
Knows that financial service providers have a duty to treat consumers fairly and to ensure information is clear and transparent
Understands the roles of relevant financial regulators and financial authorities
Aware of the possibility to check whether the provider is authorised/licenced by the relevant competent national authorities
Aware that some financial products and services may not be regulated and supervised at EU or national level
Understands that some aspects of consumer protection rely on the consumer taking note of information provided
Checks that a financial service provider, whether operating physically or digitally, is authorised/registered/regulated by the competent national authorities to provide such service
Reads and checks product information and disclosure documents, also when provided electronically
Checks information about financial service providers that have contravened regulation or treated consumers unfairly
Checks changes to financial regulation and consumer protection and their potential impact
Motivated to choose appropriate, trustworthy financial service providers
Motivated to find out the information that advisors, financial service providers and companies are legally obliged to provide to financial consumers