Investment - Articles - PIMFA welcomes FCAs move to on financial promotions rules


PIMFA has welcomed the FCA's move to strengthen financial promotions rules to protect consumers.

 Simon Harrington, Senior Policy Adviser at PIMFA commented: “This is an important, thoughtful and hopefully impactful intervention from the FCA. Given the limits of the regulatory perimeter, it is absolutely vital that they, firms and consumers are able to draw comfort from a fit for purpose regime for the approval of financial promotions. Whilst we welcome the majority of these proposals, we are particularly happy to see increased focus on the appropriateness of the firm approving promotions as well as assessments of their ongoing suitability.

 "Whilst we have been largely supportive of the FCA’s ongoing work on this issue and recognise its wide benefit, we do believe that it is important to state that whilst high risk investments are by their nature ‘risky’ they are not necessarily bad investments. There is a clear role for them and to that end, the clear focus on the consumer journey and tested positive frictions are particularly welcome."
  

Back to Index


Similar News to this Story

Targeted Support major step towards addressing support gap
Targeted Support is poised to play a pivotal role for potentially millions of non-advised individuals. Non-advised could be supported with at retireme
FCA proposals for millions to navigate their financial lives
Millions more people could get help navigating their financial lives with support on pensions and investments, under proposals announced today by the
Comments on FCA proposals on navigating financial lives
Aviva, Just Group, Standard Life, Scottish Widows and the ABI comment on FCA proposals on navigating financial lives

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.