Assessing vulnerability: How can firms help mitigate risks of DIY SIPPs?
In the FCA’s Business Plan for 2023/24, it prioritised reducing and preventing consumer harm,
In the FCA’s Business Plan for 2023/24, it prioritised reducing and preventing consumer harm, particularly in in financial promotions.
The FCA has now published its Guidance Consultation on Financial Promotions on social media.
Whilst firms may consider this to be aimed at ‘finfluencers’ and unauthorised firms, the consultation acts as a timely reminder that the financial promotion rules apply across all forms of social media.
And the FCA is concerned that the increasing speed with which financial promotions can reach consumers is leading to them being of poor quality or lacking in sufficient detail – both of which have potential for consequential consumer harm.
Four questions to ask yourselves:
TCC is working with firms to analyse and manage these challenges.
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