FCA Finalised Guidance on Financial Promotions on Social Media
Lisa Laybourn, Director of Technical Policy and Risk, TISA said: “TISA welcomes the FCA guidance in relation Financial Promotions on Social Media, it provides some useful clarification on the FCA perimeter, what constitutes a financial promotion, and the permissions required to promote financial products. The guidance is much needed not just for authorised firms, but will be of a huge benefit to influencers and non-regulated persons, enabling them to educate and discuss, without tripping into promotion.
“Increasingly, people are going to social media to get hints, tips and help on how to manage their money and used in a way that follows new FCA Guidance, social media can be a great tool to connect with new audiences and kickstart new habits. TISA’s Inclusive Investing campaign demonstrates how social media can be used to open up the benefits of investing to new sectors of society including women and those outside of London and the South East. We must continue to increase the accessibility and readability of information relating to investing and finance, the more people can safely understand and see the value of increased engagement with investment and saving the more they can get out of their money.
“Social Media provides an opportunity to encourage people to engage with their financial lives, we are supportive of the FCA’s guidance, which will shape a framework where all players can have a role whilst protecting retail consumers.”
View the finalised guidance here: https://www.fca.org.uk/publications/finalised-guidance/fg24-1-finalised-guidance-financial-promotions-social-media