FSA warns industry to address VCT promotions failings

The statement comes just one week after Chris Atkinson, manager of the communication and strategy team in the financial promotions department at the FSA, said the FSA is undertaking a review of financial promotions on the internet, particularly of sub-prime mortgages, and could take enforcement action in some cases. The FSA identified VCTs as an area of potential risk to consumers in March, and wrote to intermediaries in August raising concerns that firms were not giving investors a balanced view of VCTs. The FSA says it is therefore “disappointed” to find that, despite this letter, most ...