Recital 8

(8)In order to ensure a consistent level of protection for consumers throughout the Union and to prevent divergences hampering the conclusion of financial services contracts within the internal market, rules are necessary to provide legal certainty and transparency for traders, including micro, small and medium-sized enterprises, and to provide consumers in all Member States with legally enforceable rights and obligations. Member States are encouraged to take account of the specific needs of micro, small and medium-sized enterprises in the application of the rules transposing this Directive. The notion of micro, small and medium-sized enterprises should be understood as defined in Article 2 of the Annex to Commission Recommendation 2003/361/EC ⁵ .