Rechtsleer

Unfair Commercial Practices Directive, Chapter 1, Article 3, 9.

The author criticises the complexity in determining the applicable national consumer and/or financial legislation with regards to financial instruments and services and the relationship/prevalence between both. The author feels that this complexity is caused by the inconsistent differentiation by the legislator between such financial instruments and services.

The notion "financial service" must be differentiated from "financial instruments" which are excluded from the scope of the Belgian Law on Commercial Practices. The author pleads for the replacement of this general exclusion of financial instruments by specific exclusions as the latter are only rarely required.