International dealing rules to be debated

Financial services providers operating within the EU may be forced to allow a 30-day cooling off per...

Financial services providers operating within the EU may be forced to allow a 30-day cooling off period for products sold over the internet. EU member states are currently debating final rules over distance selling - the promotion of products overseas using telephony, fax or internet technology. Under right of withdrawal, clients would have the right to cancel a contract without reason in writing, including e-mail, within 30 days of purchase. Alan Davis, of solicitors Denton Wilde Sapte, told a recent London conference on the regulation of financial services on the internet, that agreemen...