FSA pulls 300 'misleading' adverts every year

The regulator also receives 70 complaints every month to its financial promotions hotline and has fined 12 firms since 2004 – amounting to £1.5m – for financial promotions failings. However, the FSA says these statistics actually represent its progress in stamping out misleading product adverts. It highlights the percentage of promotions it deems have fallen below its standards as having dropped by 20% from 52% between 2004 and 2006. It also says mortgage broker compliance in the national press is at 90% and points out there have been over 4,000 downloads of its online financial promo...