The FSA's interpretation of financial promotions regs has apparently taken a turn which runs contrary to the concept of marketing.
Based on conversations going on behind the scenes, the Financial Service Authority is thought to be struggling to understand what rules it should apply to financial promotions, ahead of the introduction of the EU directive MiFID next year, and sources say FSA officials are asking the industry what it thinks the regulations should be. (Update on 17th August - I should stress the FSA is already rattled by the comments expressed in this blog, and has been on the phone since its initial publication to take umbrage with the comments made, keen to stress no conversation has taken place between ...
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