PIMFA welcomes FCA’s move to strengthen financial promotions rules to protect consumers

by | Jan 19, 2022

Share this article

PIMFA

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, today welcomes FCA’s move to strengthen financial promotions rules to protect consumers.

Simon Harrington, Senior Policy Adviser at PIMFA commented:

“This is an important, thoughtful and hopefully impactful intervention from the FCA. Given the limits of the regulatory perimeter, it is absolutely vital that they, firms and consumers are able to draw comfort from a fit for purpose regime for the approval of financial promotions. Whilst we welcome the majority of these proposals, we are particularly happy to see increased focus on the appropriateness of the firm approving promotions as well as assessments of their ongoing suitability.

“Whilst we have been largely supportive of the FCA’s ongoing work on this issue and recognise its wide benefit, we do believe that it is important to state that whilst high risk investments are by their nature ‘risky’ they are not necessarily bad investments. There is a clear role for them and to that end, the clear focus on the consumer journey and tested positive frictions are particularly welcome.”

 

Share this article

Related articles

Winners of the Protection Guru Awards 2022 are announced

Winners of the Protection Guru Awards 2022 are announced

Protection Guru, has today announced the winners of Protection Guru Awards 2022. In this, their second year, the awards have been established to recognise the leading lights of the protection industry. The team at IFA Magazine extends our congratulations to all this...

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, designed to fit perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode