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

Adviser firm revenue reaches £8.38bn in 2025

Adviser firm revenue reaches £8.38bn in 2025

Adviser posts fall to 37,517

Sophia Panayi
clock 24 July 2026 • 1 min read
Investment fraudsters jailed over £11.5m scam

Investment fraudsters jailed over £11.5m scam

Targeted elderly individuals and amassed 115 victims

Jen Frost
clock 21 July 2026 • 3 min read
Simpler advice rules should not mean simpler client understanding

Simpler advice rules should not mean simpler client understanding

The direction of travel is clear

Elly Dowding and Lee Coates
clock 17 July 2026 • 2 min read