Hi Jacob,
My marketing company specialises in supporting Financial Services Firms by creating and managing their online marketing. Do the new Financial Promotion Rules apply to me or only to the firm we create the promotions for? – Anna
Hi Anna,
The new Financial Promotion Rules may apply to you under certain conditions.
Under the new rules which came into force in February 2024, only authorised firms with specific FCA permission can approve financial promotions for unauthorised persons or firms
Exemptions to this rule are authorised firms which can approve their own financial promotions, the financial promotions of their Appointed Representatives if applicable, or the financial promotions of unauthorised persons within their corporate group.
If your marketing company is involved in the creation and dissemination of financial promotions, these promotions must be approved by an authorised firm before they can be communicated to the public. This means:
- Any authorised firms that you support, will need to ensure that any financial promotion you create complies with FCA regulations. They must have the necessary permissions and processes in place to approve these promotions on their own behalf, before they are published.
- If your clients are unauthorised firms and promoting investment types which fall within S.21 of the Financial Services and Markets Act, they will need to have their promotions approved by an authorised firm such as Richdale, which is authorised to approve such Financial Promotions.
While the new Financial Promotion Rules do not directly regulate marketing companies like yours, the rules will affect your clients and, by extension, your work, as you will need to ensure that the financial promotions you manage are appropriately signed off by an authorised firm.
