Pankaj Sharma and Phoebe Chan discuss the complexities of regulating financial promotions online, finfluencers in particular, and offer recommendations.
November 30, 2023Crypto promotions should apply the Consumer Duty; finfluencers should disclose commercial relationships; regulated status should not be used in a promotional way.
November 6, 2023The UK government and Treasury have rejected a parliamentary committee’s suggestion to regulate crypto trading and investment as gambling.
July 21, 2023The guidance discusses how the use of 'finfluencers' and memes on social media could potentially breach the FCA's rules on financial promotions.
July 18, 2023FCA executive director Sarah Pritchard said the new regime will apply to all firms marketing cryptoassets to UK consumers, regardless of where they are based.
April 26, 2023Breaches of the rules can result in takedowns of websites, public warnings, and other actions, including up to two years in prison.
February 8, 2023The FCA will continue to put pressure on those using social media to illegally promote investments. In July, it will also introduce the new 'Consumer Duty'.
February 6, 2023An amendment to the Financial Services and Markets Bill will empower the FCA to regulate crypto promotions and ban companies that are not authorised to operate in the UK.
October 31, 2022ASIC's 'Regtech Monitoring Financial Promotions' symposium was the first in what will be a series of sessions aimed at working with the industry to solve compliance challenges with technology.
August 6, 2019