The Financial Conduct Authority (FCA) has pulled its commercials from YouTube after the Google-owned company allowed its advertising to be shown alongside videos of extremists.
An investigation by The Times found the regulator's adverts were placed alongside Steven Anderson's YouTube videos, a pastor who praised the killing of 49 people at a gay nightclub in Florida and who was banned from entering Britain after "repeatedly" calling homosexuals "sodomites, queers and faggots".
The Times also claimed many more taxpayer-funded bodies have had their adverts placed next to videos by extremists, de facto funding extremists on the online video site. These included Channel 4, Visit Scotland, the Home Office, the BBC and more.
A YouTube user typically earns about $7.60 (£6.16) for every 1,000 times an advert is seen.
The regulator said: "The FCA is disappointed that our adverts have appeared next to content such as this. We are extremely concerned and have urgently raised this with our media buying agency."
A Google spokesman said the company had "strict guidelines" on advert placements and "works as intended" in the majority of places.
A government spokesman told The Times that Google had been summoned for discussions at the Cabinet Office.
The chairman aims to shore up morale
UK economic headwinds are building
Three step reporting process
SJP academy hired 35 grads in May
Three advisers have their say…