Alpine Investments BV v Minister van Financiēn

Following numerous complaints from investors, some established in other Member States, who had made unfortunate investments in commodities futures, the Netherlands prohibited financial intermediaries who offered investments in off‐market commodities futures from cold calling potential clients. With a view to preserving the reputation of the Netherlands financial sector, the prohibition extended to offers of services made to other Member States from the Netherlands. In proceedings challenging the lawfulness of the prohibition, the Netherlands court referred to the Court of Justice questions as to whether the prohibition fell within the scope of Article 59 of the Treaty (freedom to provide services) and, if so, whether it could nonetheless be justified.