FCA unveils enhanced screening checks for financial adverts

Approvals for unregulated firms

clock • 1 min read

Companies approving financial marketing for unregulated firms will face an additional range of checks from the Financial Conduct Authority.

The regulator revealed today (12 September) it will introduce enhanced controls on such businesses to ensure regulated firms and their professionals have the "necessary skills and expertise to approve adverts". Prior to this, FCA-authorised companies were able to approve promotions on behalf of unregulated firms. However, the watchdog noted the practice has caused harm to end investors in the past, as at times, the regulated businesses did not understand the promotions they were approving, resulting in unclear, unfair and/or misleading adverts. As a result, if regulated companies w...

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

FCA releases best practices for Consumer Duty board reports

FCA releases best practices for Consumer Duty board reports

Focus on data quality

Cameron Roberts
clock 12 December 2024 • 2 min read
Life assurance and assisted dying

Life assurance and assisted dying

What we can learn from global policies

Tony Müdd
clock 12 December 2024 • 5 min read
FCA announces Consumer Duty focus areas

FCA announces Consumer Duty focus areas

Market study dates

Cameron Roberts
clock 10 December 2024 • 2 min read