"From today, British consumers buying financial services - like insurance - on the web from companies elsewhere in Europe, should now be able to have confidence that they will have access to simple, low cost and fast redress if things go wrong. This is an essential step towards the completion of the Internal Market in this area by ensuring access to dispute resolution across borders when problems arise."
Speaking at the launch, Ms Wallis, who is author of the European Parliament's report on a much wider dispute resolution scheme covering all sectors - the European Extra Judicial Network - said,
"The Fin Net is a trail-blazing project for the European Extra Judicial Network and the Commission is to be congratulated on the launch, particularly the large number and variety of schemes taking part. Nevertheless, the Commission must take seriously its own role of ensuring that all participating schemes live up to the high standards which European citizens will be expecting, thus giving them confidence to buy potentially important and valuable financial products over the net across the internal market."
