The long-awaited draft distance selling directive is due to be adopted by the European Commission this week. It will seek to regulate sales of financial services products by phone and over the internet and could stipulate a minimum cooling-off period of 14 days. Life offices are expected to have to make few adjustments as they already operate under tight regulations. But the move could add an extra regulatory burden to mortgage lenders. There is also concern that a previous draft which appeared in the spring cuts across existing UK regulations.