FSA financial promotions mission gathers pace

Publication of the regulator’s latest update on plans on financial promotions reveals the Financial Services Authority will now target mortgages, equity release and debt consolidation products. The FSA document also notes changes will be required by 2006 to change its Conduct of Business rules to account for the implementation of the Markets in Financial Instruments Directive, which will affect the rules which firms must follow in relation to the marketing of products. Since April last year, a new FSA department has sprung up, some 30 new staff been appointed, and the first major fine...