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...
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