In July, the Financial Conduct Authority (FCA) issued a number of video case studies as a reminder to firms of how they should communicate their financial products and services to consumers.
Financial promotions can be issued in many forms, and it is vital that firms understand that there are rules with which they must comply in order that consumers can make informed decisions when choosing products and services.
The short video case studies include detail of the various products that the FCA regulates and the common mistakes firms make when promoting their products. They outline the requirement for promotions to be clear, fair, and not misleading, regardless of the medium in which they are communicated.
The case studies cover some mock scenarios and are not intended to give a comprehensive guide to the FCA’s rules. Firms are reminded that any promotions approved for publication must comply with their rules.
Please see www.fca.org.uk/firms/financial-promotions- adverts/case-studies to view the FCA’s article and links to the case studies.
PPL expects all its appointed representatives to submit their financial promotions for approval, and also offers a service to its directly authorised clients to review, advise on, and approve financial promotions on their behalf.
For any advice on this area or to submit promotions to us at finproms@productpartnerships.com.