A recent survey by financial and business adviser Grant Thornton revealed that more than three-quarters of UK financial services advertisements and promotions are misleading. Are firms doing enough to ensure its financial promotions are clear and easy to understand? What else can be done?
Market views David Whitely, FSA The Financial Services Authority (FSA) requires firms to produce material which is clear, fair and not misleading and provides a balanced picture of the product or service. The marketing must match what the product or service delivers, and the promotions must be easily understood by customers. Many of the messages highlighted in Grant Thornton's research have been the subject of our work over the last year. For example, we published our concerns in relation to critical illness promotions in August 2005, which included the issue of scaremongering. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
