Erklärpflichten

Erklärpflichten, also known as disclosure obligations, refer to legal requirements in various jurisdictions that mandate businesses, financial institutions, or other entities to provide clear and comprehensive information to consumers, investors, or other stakeholders. These obligations aim to ensure transparency, protect against misleading practices, and empower individuals to make informed decisions.

In Germany, the concept of Erklärpflichten is prominently addressed in consumer protection laws, such as the Bürgerliches Gesetzbuch (BGB) and the Gesetz gegen unlauteren Wettbewerb (UWG). For example, under § 312j BGB, online sellers must disclose specific information before a contract is concluded, including the identity of the trader, delivery costs, and the right to cancel. Similarly, financial service providers must comply with disclosure rules under the Finanzanlagenvermittlungsverordnung (FinVermV) and the Wertpapierhandelsgesetz (WpHG) to ensure transparency in their offerings.

Erklärpflichten also apply in the European Union, where directives such as the Payment Services Directive (PSD2) and the Markets in Financial Instruments Directive (MiFID II) require financial institutions to disclose key information about fees, risks, and terms of services. These rules help standardize disclosure practices across member states and enhance consumer trust in financial markets.

Failure to comply with Erklärpflichten can result in legal consequences, including fines, contract nullification, or claims for damages. Courts often interpret these obligations strictly, particularly when consumers rely on incomplete or misleading information to their detriment. As digital commerce and financial services evolve, regulatory authorities continue to refine disclosure requirements to adapt to new business models and consumer needs.