FCA: cracking down on misleading credit brokers
Regulatory Updates | 21/02/23
Last week, the FCA published a case study on a consumer looking for high cost, short term loans online. In the case study, they highlight how the consumer contacted the FCA to check whether the online ads were legitimate. It was found that many of the adverts contained misleading phrases or statements in breach of FCA rules and requirements. It is a reminder for firms to ensure their financial promotions are clear, fair and not misleading, as well as providing relevant risk warnings.