A financial service provider must provide the following information before selling a product:
- Information on the product itself. This means, for example, information about how the product can be terminated.
- Information on any agreements with a bank or insurer. This may, for example, be information stating that the financial service provider only mediates in the case of products from a certain bank or insurer or only provides advice on products from this bank or insurer.
- Information on the costs and risks associated with a product.
- A financial information leaflet when a complex financial product is purchased. This is something you have to ask for.
- Information on what the financial service provider earns from the product that he is advising on or mediating for. Intermediaries are obliged to tell you this. Providers who sell products to you directly have to provide details on the costs they have incurred for the advice.