Coalition including PIMFA and IA call for Online Safety Bill to cover paid-for internet ads

More than £2.3bn lost in a year to scams

Pedro Gonçalves
clock • 2 min read

A coalition of consumer groups, charities and financial services industry bodies is renewing its call for the government to include paid-for online adverts within the scope of the Online Safety Bill, ahead of it being presented for pre-legislative scrutiny.

The coalition includes Which?, UK Finance, Martin Lewis and MoneySavingExpert, the Personal Investment Management and Financial Advice Association (PIMFA), the Investment Association (IA), the Association of British Insurers and the Money and Mental Health Policy Institute. It comes as research from Which? found that the growing shift towards everyday tasks being carried out online following the onset of the pandemic has led to a devastating surge in scams. Action Fraud figures, in the year to April 2021, show that 413,553 instances of fraud were reported - an increase of a third on t...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Regulation

UK gets tough on crypto: Safer for consumers but let the buyer beware

UK gets tough on crypto: Safer for consumers but let the buyer beware

Extreme volatility in the asset can still be expected

Laith Khalaf
clock 23 November 2023 • 4 min read
Kris Armstrong from SimplyBiz

Last call: Changes to the appointed representative regime

First assessment period ends 30 November

Kris Armstrong
clock 17 November 2023 • 5 min read
The regulator determined that while most fund management firms had made “efforts to comply” with its expectations around the design, delivery, and disclosure of their ESG and sustainable funds “further improvement is needed”.

FCA: Firms have 'further to go' to meet upcoming ESG labelling regulation

Review ahead of final Sustainability Disclosure Requirements regulation

Eve Maddock-Jones
clock 16 November 2023 • 2 min read