Regulatory Alerts2023-07-13
Added · Updated
Finalised guidance on financial promotions on social media
The document clarifies expectations for firms and influencers communicating financial promotions on social media, requiring that each communication be standalone compliant and provide a balanced view of benefits and risks. It mandates that required information, such as risk warnings for high-risk investments, be displayed prominently without being obscured or truncated by platform design features. Firms working with affiliate marketers must maintain monitoring systems to ensure compliance, as unauthorised persons promoting regulated products without approval may commit a criminal offence. This guidance replaces previous guidance FG15/4 and does not create new obligations but indicates how to comply with existing rules under the Consumer Duty and FSMA.