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EU legislation:
Financial services and distance selling. The Commission has adopted a proposal for a Directive to establish a clear regulatory framework for the marketing of financial services at a distance within the Single Market. The aim of the proposal is to ensure a high level of protection for consumers of retail financial services marketed by telephone, by electronic means such as the Internet or by mail, so as to encourage consumer confidence in such services and provide financial service suppliers with a clearly defined legal framework valid for distance selling through the Single Market.
Source: Press Release (European Commission), IP/98/891 (14.10.98)
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