Abi Reilly: 'Flawed' financial promotion rules must change

FCA letter raises important questions

clock • 5 min read

Are current financial promotions rules truly protecting consumers? Abi Reilly says the current approach is flawed and grey areas leave the rules open to interpretation...

The Financial Conduct Authority's (FCA) recent letter to the House of Commons Work and Pensions Committee exposes flaws in our approach to financial promotions regulation and grey areas in how the rules are defined. The Financial Services and Markets Act 2000 states that only a firm authorised by the FCA may issue or approve a financial promotion. However, there are exemptions within the Financial Promotions Order (FPO) that allow unauthorised firms to issue promotions in specific circumstances. Financial promotions made to high net worth individuals and sophisticated investors are su...

To continue reading this article...

Join Professional Adviser for free

  • 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

The morality regulator? Has the FCA gone too far on non-financial misconduct?

The morality regulator? Has the FCA gone too far on non-financial misconduct?

When the regulator follows you home

Gareth Fatchett
clock 17 September 2026 • 8 min read
FCA's CP26/10 lets firms gather less - it doesn't let them assume more

FCA's CP26/10 lets firms gather less - it doesn't let them assume more

'A family knowing a client's wishes is not the same as the client stating them'

Mark Buck
clock 15 September 2026 • 5 min read
What the FCA's Mills review means for financial services

What the FCA's Mills review means for financial services

Regulatory expectations will need to evolve as AI becomes more autonomous

Jessica Caws and Cheryl Tham
clock 07 September 2026 • 6 min read