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15 Jan. 2010 – Commission consults on Tying in Financial Services.On 15 January 2010, the European Commission launched a consultation on tying and other potentially unfair commercial practices in the retail financial services sector. The consultation is based on the findings of a study on the same issue. Tying occurs when two or more products are sold together in a package and at least one of these products is not sold separately. The study includes the results of a test which reveal that some tying practices are anti-competitive as well as harmful to consumers and SMEs: they reduce customer mobility, price transparency and the comparability of providers on the market, they increase costs of switching providers and negatively affect consumer confidence. The consultation is addressed to all stakeholders and the deadline is 14 April 2010. The results of the consultation will be used by the Commission in its future position on tying in the retail financial services sector. For the consultation document, click here. |