FCA Social Media and Customer Communications Guidance – Top 10 Areas of Clarification
In August, The Financial Conduct Authority (FCA) published guidance on financial promotions in social media, which is intended to clarify the regulator’s approach to the supervision of financial promotions. As part of our ongoing commitment to share industry and regulatory developments, we have put together the top ten areas of clarification from the FCA’s guidance, along with some of the key implications for businesses to consider.
The Financial Conduct Authority (FCA) in the UK published guidance on financial promotions and customer communications in social media in 2014. It’s intended to clarify the FCA’s approach to the supervision of financial promotions.
To help you digest the most important implications of the guidance, this summary includes:
- How the FCA defines social media
- What qualifies as a ‘financial promotion’
- Who is responsible for ‘shared’ social media content
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