PIMFA Live Online Learning: Financial Promotions: fair, clear and not misleading in 2023
There is no room for complacency for PIMFA member firms regarding financial promotions.
The FCA has just announced that it amended or withdrew 1,507 promotions by 54 authorised firms between April – June 2023. Digging through the details of the statement reveals that retail investments and retail lending were the sectors with the highest amend/withdraw outcomes, totalling 70% of interventions with authorised firms.
Consumer Duty will only ramp up the regulator’s intervention on rogue financial promotions, especially on social media.
In this live online course, you will examine good and bad examples of recent promotional campaigns, assessing potential non-compliance of your current and future campaigns. By improving your grasp of good practice, you will be better prepared to protect your firm, brand reputation, and competitive advantage and respond rapidly to unexpected, consequential events.
In this live, two-hour online session with Bovill’s Adam Strickland you’ll:
• Assess the potential risks of your marketing and financial promotions against the FCA draft guidance ‘GC23/2: Financial promotions on social media’.
• Strengthen your approach to financial promotions in-line with the requirements of Consumer Duty.
• Review control expectations for promotions of any high-risk investment in line with the FCA’s PS22/10.
• Use a proven processes to assess and mitigate the threat of non-compliance with current and future changes in financial promotion regulations
• Ensure your approach to social media and customer communications doesn’t attract the wrong kind of attention.
• Enhance the review and approval process for financial promotions in line with proposed new anti-greenwashing rules.
• Update your social media and influencer marketing governance, policies, and contracts with ‘finfluencers’ and agencies to ensure your firm doesn’t fall short of the guidance the regulator has in place to stop consumer harm.