Fund groups review approaches to social media after FCA move

Fund groups are to review their current policies regarding social media after the Financial Conduct Authority published guidelines on what groups can put on websites such as Twitter.

The regulator last week launched a consultation into social media use, including examples of compliant and non-compliant promotional tweets. In the case of investment products, any promotions must now be identified by #ad. There is also an obligation to keep records of significant social media communications, and ensure these are signed off by a senior figure. The consultation comes after what the FCA described as “extensive conversations” with the industry, but groups nonetheless said they will review their policies in light of the findings. A Schroders spokeswoman said the guidan...