Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 20 March 2014 - onwards
  Version 2 of 2    

Article 22 Standards for advisory services

1. Member States shall ensure that the creditor, credit intermediary or appointed representative explicitly informs the consumer, in the context of a given transaction, whether advisory services are being or can be provided to the consumer.

2. Member States shall ensure that before the provision of advisory services or, where applicable, the conclusion of a contract for the provision of advisory services, the creditor, credit intermediary or appointed representative provides the consumer with the following information on paper or another durable medium:

(a) whether the recommendation will be based on considering only their own product range in accordance with point (b) of paragraph 3 or a wide range of products from across the market in accordance with point (c) of paragraph 3 so that the consumer can understand the basis on which the recommendation is made;

(b) where applicable, the fee payable by the consumer for the advisory services or, where the amount cannot be ascertained at the