The Financial Conduct Authority (FCA) is negotiating with social media companies about their approach to adverts linked to what it called “dodgy investments”.
Speaking at the regulator's annual public meeting on Tuesday (28 September), executive director of enforcement and market oversight Mark Steward said the regulator was working to get social media firms, such as Facebook and Twitter, to address their procedures. "We must take action," he said. "We are putting them on notice that we expect them to be involved in this process of protecting the community." The FCA highlighted the increase in incidents of fraud over the past 18 months, with many linked to online scams. Steward added the regulator deemed the interaction with social med...
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