Thursday, 6 June 2013

Europe: when is an investment service offered as part of a financial product?

The ICLR has provided a summary for the recent decision of the European Court of Justice in Genil 48 SL v Bankinter SA (Case C-604/11): see here. The summary headnote reads: "An investment service was offered as part of a financial product within the meaning of article 19(9) of Parliament and Council Directive 2004/39/EC of 21 April 2004 on markets in financial instruments only when it formed an integral part thereof at the time when that financial product was offered to the client."

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