Distance Selling Act

Coins Index

Investment silver is described as a financial service therefore it is exempt from the Distance Selling Act, however, financial services are regulated by the Financial Services (Distance Marketing) Regulations 2004.

According to the www.opsi.gov.uk:

Exceptions to the right to cancel
11. - (1) Subject to paragraphs (2) and (3), regulation 9 does not confer on a consumer a right to cancel a distance contract which is -
(a) A contract for a financial service where the price of that service depends on fluctuations in the financial market outside the supplier's control, which may occur during the cancellation period, such as services related to -

• Foreign exchange,
• Money market instruments,
• Transferable securities,
• Units in collective investment undertakings,
• Financial-futures contracts, including equivalent cash-settled instruments,
• Forward interest-rate agreements,
• Interest-rate, currency and equity swaps,
• Options to acquire or dispose of any instruments referred to in sub-paragraphs (i) to (vii), including cash-settled instruments and options on currency and on interest rates.

Unregulated Market
The gold bullion, investment gold, and precious metal markets are unregulated markets. They are not covered by the Financial Services Authority, and there is no requirement for registration under the FSA, or the London Bullion Market Association.