The Financial Conduct Authority (FCA) has warned against regulated firms marketing any unregulated business they carry out as regulated, calling it "unfair" and "misleading" to consumers.
In a letter from FCA chief executive Andrew Bailey to company CEOs, the Financial Conduct Authority has revealed it has been made aware of regulated firms carrying out misleading promotional activity on unregulated investments. Bailey warned these sorts of promotions were "unlikely" to meet the regulator's rules that require financial promotions to be fair, clear and not misleading. "Some of the firms we regulate undertake both regulated and unregulated business," he said. "We have recently become aware of firms issuing financial promotions, which suggest or imply that all of the acti...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
