FCA consults on new social media guidance

The FCA has launched a new consultation with the aim of revamping guidance on the use of social media for financial promotions. It is a significant step by the regulator to combat illegal or non-compliant promotions. The regulator says that the proposals will modernise the information firms should use when promoting financial products or services online and supports two of its key commitments; to reduce and prevent serious harm and set and test higher standards. The consultation closes on 11th September.

Source: FCA