FCA Google Ads Policy Change
From September, Google will only run ads for financial products and services when the advertiser has been verified by the FCA.
This is in response to the FCA reporting it was forced to issue 1,200 warnings online last year about fraudulent adverts on Google and social media platforms that were not issued or approved by FCA-authorised firms. This is double the number issued in 2019.
Holly Mackay, CEO of Boring Money, explains the policy change:
"The premise is a logical one – only accept #financial product ads from #regulated firms. Our data shows 33% of #investors and over half (52%) of cash savers cite scams as something they associate with investment #risk. This #policy offers a sensible measure of control and should mean people can buy with a little more confidence when they search #online for an investment provider."
These changes will impact businesses in every sector, especially retail. At PPL, we can make sure you are correctly authorised to continue advertising with Google. Whether you want to apply to become an Appointed Representative or be directly authorised by the FCA, we take the hassle out of #compliance.
Contact us now to help identify the risks and what you need to make sure you're FCA compliant. Call us on 01274 921234.