Please find the full & original FCA publication here.
This page analyses the data, between 1 January 2022 to 31 December 2022, resulting from action taken against authorised firms breaching financial promotion rules and referrals and investigations into unregulated activity.
Financial services play a critical role in the lives of everyone in the UK. The rising cost of living continues to heavily impact consumers, with the most vulnerable being hit the hardest, so it is important for consumers to get the outcomes they need from financial markets. A large part of delivering good consumer outcomes is linked to good quality marketing information. Unclear or misleading marketing is highly concerning because of the complex and often long-term nature of financial products. It is more important than ever that financial promotions are responsible and clear so consumers can commit to appropriate financial products.
This data provides an overview of how we are working to improve standards across the market so that consumers are provided with clear, fair and not misleading financial promotions to enable them to make an informed decision before parting with their money. It brings together the data and themes reported in our quarterly financial promotions publications during 2022, where we significantly increased our intervention activity. We expect firms to read this and take necessary steps to ensure they deliver good consumer outcomes. We will continue our intervention activity where we identify authorised and unauthorised firms and/or individuals causing consumer harm.
What’s included in the data
- key messages
- examples of our work on financial promotions during 2022:
- reducing and preventing serious harm
- setting and testing higher standards
- promoting competition and positive change
- information on how to report a misleading financial advert or potential scam
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To continue reading, please find the full & original FCA publication here.
