FCA points out the pitfalls of social media
Regulator’s guidance on financial promotions serves as useful reminder for brokers
Recent guidance from the Financial Conduct Authority (FCA) on using social media for financial promotions serves as a useful clarification, according to prominent figures in the broking market.
The FCA’s 20-page document, issued in March following an industry-wide consultation, notes that any form of communication is capable of being a financial promotion if it includes an invitation or inducement to engage in financial activity.
The regulator said financial promotions, whether on social or
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