Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 3 January 2018 - onwards
  Version 3 of 3    

Article 53 Extra-judicial mechanism for investors' complaints

Revoked from 3 January 2018

1. Member States shall encourage the setting-up of efficient and effective complaints and redress procedures for the out-of-court settlement of consumer disputes concerning the provision of investment and ancillary services provided by investment firms, using existing bodies where appropriate.

2. Member States shall ensure that those bodies are not prevented by legal or regulatory provisions from cooperating effectively in the resolution of cross-border disputes.

3. The competent authorities shall notify ESMA of the complaint and redress procedures referred to in paragraph 1 which are available under its jurisdictions.

ESMA shall publish and keep up-to-date a list of all extrajudicial mechanisms on its website.