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ARTICLE · 20 SEPTEMBER 1999

EU Publish Proposals on Selling Financial Products over the Internet

A&L Goodbody
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IrelandMedia, Telecoms, IT, Entertainment

On 26th July 1999 the EC Commission presented its amended proposal for a distance selling directive.

The proposal is part of an ongoing effort by the EC Commission to harmonise the regulatory environment for the direct selling of financial products. The proposal deals with issues arising from the direct sales of such products using a variety of media, including the Internet. The EC Commission aims to enhance consumer confidence in using such methods of purchasing financial products within the European Union.

The next step will be the consideration of the proposal by the EU Council of Ministers, following which it will be submitted to the European Parliament. Reaching an agreement on this proposal is one of the expressed priorities of the Finnish Presidency of the Council of Ministers.

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