The Financial Conduct Authority (FCA) has issued another 'Dear CEO' letter to remind firms "how seriously" it treats the matter of approving financial promotions of retail investments.
This comes just three months after the regulator sent an initial ‘Dear CEO' letter on 9 January that warned firms against marketing unregulated businesses they carried out as regulated. In its latest letter, the financial watchdog said that, before firms approve a financial promotion for communication by an authorised person, they must confirm it complies with its rules on financial promotions. FCA chief executive officer Andrew Bailey warned the promotions should therefore be "fair, clear and not misleading". He wrote that, despite the regulator's letter on 9 January, it has ident...
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