Regulator plans ban on what it sees as misuse of past performance figures in advertisements
Fund past performance can no longer be the predominant message in any advertisement once FSA proposals are passed into regulation, something the regulator aims to do by September 2002. If past performance is mentioned, the FSA's warning that it is no guide to future performance must be included in the main text of the advert. While the FSA would like to make its proposed changes to past performance and advertising rules in September, it is planning to give firms a three-month transitional period before bringing them into force in December 2002. The changes will include strengthening ...
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