The Netherlands Financial Markets Authority (AFM) announced that in 2014 it will investigate the way in which financial products are compared on comparison websites. The background to this investigation is that consumers are increasingly using these websites to choose financial products. However, comparison websites do not always lead to a product that is suitable for the consumer. The AFM wishes to obtain more information on the factors influencing how financial products are compared.
The upcoming investigation is a follow-up to previous investigations. An AFM investigation in 2012 revealed that many sites do not provide enough information to consumers regarding exactly what they do, or this information (if provided) is difficult to find, and that they do not state how the website operators earn their money, how comparisons are produced and how complete these comparisons are. This often resulted in consumers not being able to assess the value they can attach to the results of a comparison.
Source: The Netherlands Financial Markets Authority (AFM)