UK:
FCA Consults On Approach To Financial Promotions In Social Media
27 August 2014
Shearman & Sterling LLP
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On August 6, 2014, the Financial Conduct Authority
("FCA") launched a consultation setting out its proposed
approach to financial promotions in social media. The FCA considers
that firms need to think about how their financial promotions can
be fair, clear and not misleading regardless of the means used and
also to consider how image advertising can be used. In addition,
the FCA is seeking views on how firms, in using social media, can
meet the specific financial promotion requirements such as: (i)
ensuring that financial promotions for investment products are
identified as such; (ii) ensuring that each communication,
including a tweet or webpage, complies with the rules; and (iii)
ensuring that the required risk warnings are included in
promotions. The consultation is open until November 6, 2014.
The consultation paper is available at: http://www.fca.org.uk/static/documents/guidance-consultations/gc14-06.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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