National Bank of Serbia launches consultation on draft EU aligned amendments for distance financial services contracts

The National Bank of Serbia has published draft amendments to the law on the protection of financial service users in distance contracting, aiming to fully align Serbia's framework with European Union rules on financial services consumer protection. The draft would introduce new requirements for providers when they conclude financial services contracts at a distance, particularly through online interfaces, and it is coordinated with the previously published draft amendments to the Law on Protection of Financial Services Users. The changes reflect the main elements of EU Directive 2023/2673 on the distance marketing of financial services. They would prohibit misleading interface design, require providers to enable users to withdraw from distance contracts quickly and easily, and add pre-contract information obligations. Because most financial services are already regulated in detail under sector-specific laws, the National Bank of Serbia indicates that the main practical effect will be new functionality requirements for online interfaces used to conclude distance contracts. The general law's pre-contract information rules would apply only where a sectoral law does not already regulate the issue, unless that law provides otherwise. Interested parties can submit comments, proposals and opinions to the National Bank of Serbia until 5 June 2026.