On 9 April 2019, the European Commission started a consultation on the effectiveness of the Distance Marketing of Financial Services Directive 2002/65/EC (the DMD).
The European Commission’s webpage says the goal of the consultation is to “ensure that all relevant stakeholders have the opportunity to express their views on the effectiveness of the Directive”.
The Commission’s webpage goes on to say that since the DMD came into force, “the retail financial sector has gone increasingly digital, with new products and actors available on the market and new sales channels being used. Several EU laws pertinent to financial services have also been adopted or updated”.
The deadline for responding to the consultation is 2 July 2019. The European Commission expects to publish its findings and conclusions by the end of 2019.
The DMD was last reviewed by the Commission in 2009.