(This note is not part of the Instrument and does not purport to be a legal interpretation).

The purpose of these Regulations is to amend the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004. The amendments clarify the application of the original Regulations in relation to services provided by intermediaries, the enforceability of contracts to which the Regulations apply and the fraudulent use of payment cards in connection with distant contracts for financial services.

The 2004 Regulations give effect to the main provisions of Directive 2002/65/EC of the European Parliament and of the Council of 23 September 2002 concerning the distance marketing of consumer financial services and amending Council Directive 90/619/EEC and Directives 97/7/EC and 98/27/EC. They apply to the marketing and supply of financial services to consumers under organised distance marketing schemes.