Self-regulation and public regulation: Financial services and the out-of-court complaints bodies

In 2001, a Europe-wide out-of-court complaints network for financial services (Fin-Net) was launched by the European Commission. This initiative followed an earlier action plan relating to the financial services and rested on the formulation of a new strategy to dismantle barriers to the free operation of an international market in the area of financial services (European Commission 1996). The task of this network is to resolve disputes between service providers in the financial sector and consumers.