FCA stops over 10,000 misleading financial adverts and promotions in 2023
Over 10,000 financial adverts and other promotions were withdrawn or changed in 2023 following intervention from the Financial Conduct Authority (FCA).
Over 10,000 financial adverts and other promotions were withdrawn or changed in 2023 following intervention from the Financial Conduct Authority (FCA).
The UK Financial Conduct Authority (FCA) today published the financial promotions data for the third quarter of 2023.
Since 8 October, the UK Financial Conduct Authority (FCA) has been supervising firms against the new regime.
On 10 October, the FCA imposed legally-binding requirements on REBS, which meant that REBS was no longer able to approve financial promotions.
On 10 October 2023, the FCA imposed requirements on rebuildingsociety.com Ltd to restrict it from approving cryptoasset financial promotions.
The FCA expects businesses including social media platforms, app stores, search engines, domain name registrars and payments firms to consider the alerts.
In compliance with the updated Financial Promotions Regime, Binance has launched a new domain for UK users.
The FCA has issued a final warning for cryptoasset firms marketing to UK consumers and those supporting them to get ready for the financial promotion regime.
Retail investments and retail lending are the sectors with the highest amend/withdraw outcomes, totalling 70% of FCA interventions.
The FCA tells cryptoasset firms marketing to UK consumers to get ready for the financial promotions regime by 8 October 2023.