ABSTRACT
The Financial Conduct Authority (FCA) is the regulator of the financial services industry in the UK. Its aim is to protect consumers, ensure the financial services industry remains stable, and promote healthy competition between financial services providers. In relation to bodies regulated by The Financial Services Authority (FSA), there are special rules in relation to financial promotions. The guidance notes state that where the Financial Promotions Rules apply, they generally apply in a way that is 'media-neutral'. The rules focus on the content of the financial promotion rather than the medium used to communicate it. The FSA identified good and poor practice during the review among firms who had adopted new media as part of their marketing strategies to communicate financial promotions. It was noted that some promotions lacked risk warnings. Firms cannot assume that because a communication is made using new media, it is an image advertisement and exempt from the financial promotion rules.
