How the FSA will tighten the promotion of UCIS

Financial promotions Although the promotion of UCIS to the general public and marketing of the products is only allowed where an exemption is available, the FSA said these restrictions have been "widely misinterpreted, poorly understood and sometimes simply ignored". In particular, many distributor firms do not understand that providing financial advice generally includes making a financial promotion. Solutions Handbook guidance will clarify that personal recommendations generally amount to a financial promotion and, as a result of the marketing restrictions, advice on a non-mainstr...