Off-premises sales
Penalties for unlawful direct marketing of banking and financial services: civil and criminal liability
By Charlotte GAUCHON30 June 2025Canvassing is an activity governed by a strict set of rules designed to protect savers and investors. When these rules are not complied with, the consequences can be particularly serious for canvassers, but also for the institutions that employ them. Far from being a simple administrative irregularity, illegal canvassing exposes its perpetrators to an arsenal of civil, criminal and disciplinary penalties. It is therefore essential to have a clear understanding of the general rules governing canvassing by banks and financial institutions if you are to appreciate the extent of the risks involved. This article explains the nature and scope of these penalties. Civil penalties for unlawful canvassing In addition to criminal prosecution, failure to comply with canvassing rules can have significant civil consequences. The main aim of these is to compensate the person being canvassed for the loss suffered and to render ineffective any transactions entered into in breach of the law. Liability may be...
Distance selling of banking and financial services: specific rules and consumer protection
Commercial, business and competition law, Off-premises salesThe dematerialisation of banking and financial services has profoundly transformed consumer habits. Opening an account, subscribing to a savings product or taking out a loan can now be done in just a few clicks, without ever meeting an adviser in person. However, this ease of access has been accompanied by a protective legal framework designed to restore the balance...Direct marketing of banking and financial services: a complete guide to regulations and obligations
Commercial, business and competition law, Off-premises salesBanking and financial canvassing, the practice of approaching potential customers outside traditional branches, is an activity that is strictly regulated by law to protect savers. Given the proliferation of offers and the complexity of the products on offer, it is essential to understand the framework that governs...
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