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Beware the FCA’s new financial promotion rules

Insight

purple abstract

Earlier this year we reported that HM Treasury and the Financial Conduct Authority (FCA) had decided to overhaul aspects of the UK’s financial promotion regime (see our previous article here). The FCA have since published its Policy Statement (PS22/10) – Strengthening our financial promotion rules for high-risk investments and firms approving financial promotions. The new final rules for authorised firms set out in PS22/10 seek to prevent harm to consumers by ensuring that firms communicating and approving financial promotions do so at a high standard, and consumers receive high-quality financial promotions that enable them to make effective, well-informed investment decisions. In this guide we examine the incoming changes and the practical implications for affected firms.

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If you require further information about anything covered in this briefing, please contact Grania Baird, Andy Peterkin, Jessica Reed, Kya Fear, or your usual contact at the firm on +44 (0)20 3375 7000.

This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.

© Farrer & Co LLP, September 2022

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About the authors

Grania Baird banking lawyer

Grania Baird

Partner

Grania leads the financial services regulatory and funds practice at Farrer & Co. She has over 20 years of experience acting for clients across the sector, including private banks, wealth managers, asset managers and, more recently, payment services firms and Fintech businesses.

Grania leads the financial services regulatory and funds practice at Farrer & Co. She has over 20 years of experience acting for clients across the sector, including private banks, wealth managers, asset managers and, more recently, payment services firms and Fintech businesses.

Email Grania +44 (0)20 3375 7443
Andy Peterkin lawyer photo

Andy Peterkin

Partner

Andy is a well-regarded partner in our Financial Services team. He undertakes a wide range of general financial services work, as well as advising on fund formation and operation and securities law issues. His broad range of clients include asset managers, investment fund managers, non-financial sector institutions and private banks.

Andy is a well-regarded partner in our Financial Services team. He undertakes a wide range of general financial services work, as well as advising on fund formation and operation and securities law issues. His broad range of clients include asset managers, investment fund managers, non-financial sector institutions and private banks.

Email Andy +44 (0)20 3375 7435
Jessica Reed lawyer photo

Jessica Reed

Partner

Jessica is an experienced financial services and funds lawyer. She advises a wide range of clients including asset managers, wealth managers, private banks, international financial institutions and charitable institutions on the full spectrum of contractual, transactional and regulatory issues.

Jessica is an experienced financial services and funds lawyer. She advises a wide range of clients including asset managers, wealth managers, private banks, international financial institutions and charitable institutions on the full spectrum of contractual, transactional and regulatory issues.

Email Jessica +44 (0)20 3375 7518
Kya Fear lawyer photo

Kya Fear

Senior Associate

Kya provides advice to financial services firms, including, asset managers, wealth managers, private banks, and charitable institutions on a broad range of legal and regulatory issues.  

Kya provides advice to financial services firms, including, asset managers, wealth managers, private banks, and charitable institutions on a broad range of legal and regulatory issues.  

Email Kya +44 (0)20 3375 7509
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