FCA warns firms and finfluencers to 'keep social media ads lawful'

Guidance for financial services promotion

Guidance for memes, reels and gaming streams promoting financial services has been published by the Financial Conduct Authority.

Today (26 March), the regulator has set out how adverts across social media channels must be "fair, clear, and not misleading, meaning they must have balance and carry the right risk warnings so people can make well informed financial decisions". Social media has become a central part of firms' marketing strategies, the FCA noted. "Firms are on the hook for all their promotions and the FCA has warned they need to ensure influencers they work with communicate to their followers in the right way." The watchdog also reminded influencers that that promoting a financial product without ...