Recital 16

(16) Certain consumer financial services are governed by specific Union acts, which continue to apply to those financial services. This Directive does not amend existing sectoral Union acts. In order to ensure legal certainty, and to ensure that there are no duplications or overlaps, it should be clarified that, where other Union acts governing specific financial services contain rules on pre-contractual information, on the right of withdrawal or on adequate explanations, and irrespective of the level of detail of those rules, only the respective provisions of those other Union acts should apply to those specific consumer financial services unless otherwise provided in those acts, including the explicit option for Member States to exclude the application of those specific rules. In this context, whenever a specific Union act lays down rules offering Member States the possibility not to apply that specific Union act but instead refer to the application of another specific Union act, such as in Article 3(3), point (a), of Directive 2014/17/EU of the European Parliament and of the Council (7), the rules of that specific Union act should prevail and this Directive should not apply. Similarly, in those instances where the specific Union act provides for rules concerning adequate alternative arrangements to ensure consumers receive timely information at the pre-contractual stage, such as in Article 3(5) of Directive 2014/17/EU, the rules laid down in that specific Union act should prevail and this Directive should not apply.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-11 · Text as adopted (Official Journal); later amendments are not incorporated in this text.