Consumer Protection Regulations

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Consumer Protection Regulations. In the context of the Financial Competence Framework, Consumer Protection Regulations is a topic in the Financial Landscape subject matter domain.[1]


Mastering the role of Consumer Protection Regulations in financial literacy context requires the following competences:

Code Competency Description Competency Type
403 Understands that in the EU consumer protection measures apply equally to financial operations by regulated entities, whether carried out digitally or physically Knowledge
404 Knows that financial service providers have a duty to treat consumers fairly and to ensure information is clear and transparent Knowledge
405 Understands the roles of relevant financial regulators and financial authorities Knowledge
406 Aware of the possibility to check whether the provider is authorised/licenced by the relevant competent national authorities Knowledge
407 Aware that some financial products and services may not be regulated and supervised at EU level or national level. Knowledge
408 Understands that some aspects of consumer protection rely on the consumer taking note of information provided Knowledge
409 Checks that a financial service provider, whether operating physically or digitally, is authorised/registered/regulated by the competent national authorities to provide such service Skill
410 Reads and checks product information and disclosure documents, also when provided electronically Skill
411 Checks information about financial service providers that have contravened regulation or treated consumers unfairly Skill
412 Checks changes to financial regulation and consumer protection and their potential impact Skill
413 Motivated to choose appropriate, trustworthy financial service providers Attitude
414 Motivated to find out the information that advisors, financial service providers and companies are legally obliged to provide to financial consumers Attitude


  1. European Union/OECD (2022), Financial competence framework for adults in the European Union