Financial Promotions: The Gateway & Beyond

The FCA has proposed a series of new rules to tackle illegal, unfair or misleading financial marketing.

How will this affect you and your organisation?

On 20 July 2022, HM Treasury introduced the Financial Services and Markets Bill to Parliament, including provisions to amend 2000’s FSMA to create the regulatory gateway for approvers of financial promotions.

The Treasury envisioned that this gateway would lead to several improvements to the regulatory framework in this area, including enhanced oversight of the approval market by the FCA and an improved standard of approvals.

As a result, on December 6, 2022, the FCA launched a Consultation Paper (CP22/27: Introducing a gateway for firms who approve financial promotions) proposing several new measures to enhance consumer protection and ensure that the regulator can act quickly to stop harmful financial promotions communicated by unauthorised firms, including companies operating in the areas of high-risk investments and Buy Now Pay Later.

In light of these developments, Complyport, the London Governance and Compliance Academy (LGCA), and the Association of Governance, Risk and Compliance (AGRC) organised a webinar to provide you with a breakdown of this FCA proposal and what you need to know to better prepare for these changes.

This hour-long webinar focused on the following topics:

o The new scope of the proposed FCA measures.
o The specific changes to the current rules that allow authorised firms to approve financial promotions on behalf of other firms who are not authorised.
o Screening checks for authorised firms before they are allowed to approve financial promotions.
o Greater oversight and powers afforded to the FCA to stop potential harm from financial promotions before they materialise.
o Reporting obligations for firms on financial promotions they have approved.
o And more!

This webinar is ideal for:

o Authorised persons communicating financial promotions.
o Firms operating in the cryptoasset market.
o Applicants and prospective applicants for authorisation who may wish to approve financial promotions for unauthorised persons.
o Unauthorised persons that get their financial promotions approved by authorised persons.