The Financial Conduct Authority (FCA) has warned that some firms are engaging in "unlawful" and "misleading" marketing practices with regard to the promotion of unregulated financial products.
In a letter from chief executive Andrew Bailey (pictured) to the CEOs of all regulated firms on Wednesday (9 January), the regulator said some firms are issuing financial promotions that falsely imply all of the activities they undertake are regulated by the FCA or the PRA when, in fact, they are not. FCA to assess the suitability of advice in 2019 The FCA warned that while it does not "approve" promotions, it has the power to force firms to "withdraw an advert…or to prevent it from being used in the first place". It reminded firms that financial promotions must be "fair, clear and...
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