FCA clamps down on financial marketing to protect consumers

Regulator sets out stronger rules on ‘rogue’ financial promotions

Jenna Brown
clock • 3 min read

Firms that promote financial products and services must demonstrate they have the right expertise under stricter rules proposed by the Financial Conduct Authority (FCA).

The regulator said the measures, set out today (6 December) in consultation paper 22/27, would clamp down on illegal, unfair or misleading financial marketing.   The rules mean firms which want to approve financial promotions will have to adhere to checks and demonstrate they have the right expertise for the promotions they want to approve, the regulator said. It explained that under current legislation, any FCA-authorised firm is permitted to "approve financial promotions on behalf of other firms who are not authorised by the regulator". It added: "Changes being introduced by parl...

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.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Caroline Rainbird

FSCS levy demand for 2023/24 'significantly' cut to £270m

Updated levy is £208m lower than the forecast published in November 

Jenna Brown
clock 25 May 2023 • 3 min read
SDR holds “a lot of promise”, the firm said, especially in a simplified disclosure for consumers

Morningstar: FCA has 'once-in-a-generation opportunity' in SDR

Sustainability Disclosure Requirements to build a 'truly cohesive' framework

Elliot Gulliver-Needham
clock 18 May 2023 • 3 min read
FCA censures Lighthouse after British Steel 'serious failings'

FCA censures Lighthouse after British Steel 'serious failings'

Quilter-owned firm has paid out £23m in redress

Jenna Brown
clock 15 May 2023 • 2 min read