FCA Dear CEO letter setting out expectations as regards financial promotions

On 11 April 2019, the FCA published a Dear CEO letter reminding firms involved in the approval of financial promotions for unauthorised persons of their obligations when doing so. The Dear CEO letter follows a Dear CEO letter published earlier this year to all regulated firms reminding them of their responsibilities relating to the use of financial promotions. In the Dear CEO letter the FCA reminds all firms engaged in approving financial promotions of retail investments how seriously it treats the issue. The FCA is issuing its latest Dear CEO letter as despite the earlier Dear CEO letter it has identified a number of examples where it appears the due diligence carried out on a financial promotion may have fallen well short of the standard the regulator expects. The FCA reminds firms that even when investment products are not regulated or are issued by companies that are not-FCA-authorised, should a firm provide a ‘s21 approval’ of the promotion, the firm can expect…

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