FCA reiterates stance on regulating online financial adverts

Change requires legislation

John Brazier
clock • 2 min read

Financial Conduct Authority (FCA) chairman, Charles Randell, says legislation must be part of the approach to beating online fraud caused by advertising.

Speaking at the Cambridge International Symposium on Economic Crime today (6 September), Randell said that while a crackdown on fraudulent financial advertisements and scams from platforms is welcome, there must be a "permanent and consistent solution" to the problem. The FCA chairman likened the issues to the Greek myth of Hercules' labour to clean the Augean stables, stating "over the last 30 years the internet has filled up with a great deal of … well, let's just call it 'problematic content'." "As we live more and more of our lives online, we can't allow online business to operate...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

PFS turmoil continues as interim CEO Don MacIntyre exits

PFS turmoil continues as interim CEO Don MacIntyre exits

Organisation has been at loggerheads with CII

Jenna Brown
clock 05 November 2024 • 2 min read
Implications of the PRA's 2025 life insurance stress test

Implications of the PRA's 2025 life insurance stress test

A regulatory shift

Sheikh Yasir
clock 01 November 2024 • 4 min read
Industry reacts: Autumn Budget 2024

Industry reacts: Autumn Budget 2024

Missed opportunities for health

Cameron Roberts
clock 31 October 2024 • 5 min read