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Compliance Advice for FCA Financial Promotions

Compliance Advice for FCA Financial Promotions

Whatever FCA financial promotion needs your business has, at complianceadvice.co.uk we can help.

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The FCA financial promotion rules can be a complex puzzle. We can help you to solve that puzzle by:

  • Reviewing your and you Appointed Representatives’ financial promotions

  • Providing procedures to ensure your firm is compliant with the financial promotion rules

  • Designing compliant financial promotions for your business

Compliance Advice UK | FCA Financial Promotions

Looking for help reviewing and approving your firm’s financial promotions?

Do you need help reviewing and approving financial promotions of your Appointed Representatives?

Does your firm need a financial promotion guide or financial promotion checklists?

Looking for someone to design compliant financial promotions for your business?

EXPERTISE

Successfully guiding you through the regulatory process with a dedicated team of experienced compliance consultants 

STRATEGY

Navigating a clear and strategic path through the complex regulatory requirements with insight and firm analysis.  

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All FCA compliant companies are obliged to monitor the latest standards and stay up to date.

Compliance Advice for FCA Financial Promotions

The definition of a financial promotion is an invitation or inducement to engage in investment activity. This definition is quite broad and includes products that people might not initially consider to be “investments” such as consumer credit products and mortgages.

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The financial promotion rules are also media neutral so it can be difficult trying to work out how to apply the rules to different types of media given their uniqueness and limitations. For example:

  • Paper brochures, leaflets, flyers

  • Television and radio adverts

  • Websites, blogs, vlogs, emails

  • Social media posts, tweets

  • Sales aids such as presentations

The FCA’s Principles for Businesses (PRIN) set out the high level commitments through principle 6: A firm must pay due regard to the interests of its customers and treat them fairly and also principle 7: A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading. There are also separate rules in the FCA handbooks containing rules on financial promotions for:

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The FCA regulates advertising for most financial services including:

  • Loans (retail finance, car finance, guarantor loans, payday loans)

  • Life assurance

  • Mortgages

  • Pensions

  • Claims management (for example, criminal injury, personal injury, housing disrepair, employment related claims, PPI, payday lending)

  • Cash savings and bank accounts

  • Insurance (motor, home, pet, travel)

  • Investments (collective investment schemes, stocks and shares, bonds, contracts for differences etc.)

 

It is important to get your financial advertising right as the FCA has the legal powers to ban adverts, warn or fine firms for getting it wrong and to direct firms to write to customers who may have been misled.

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Other rules also apply to promotions such as the Advertising Standards Authority’s Advertising Codes and the Privacy and Electronic Communications Rules (PECR), which give people specific privacy rights in relation to electronic communications and sit alongside the GDPR. The Information Commissioner’s Office is the UK’s independent body set up to uphold information rights.

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At complianceadvice.co.uk we’ll help you to get it right first time.

 

Contact us today for advice and guidance on all your FCA Financial Promotion requirements.

Make sure that your promotions and adverts comply with FCA rules and treat customers fairly

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