Financial Promotions Guide
5.0 // Financial Promotions Checklist
Financial Promotions Guide
5.0 // Financial Promotions Checklist
You’ve pulled together your ad, but you’re still unsure if it is compliant?
Have no fear – use our handy checklist to make sure that the content and styling of your ad ticks all the boxes, and is appropriate to be used as a promotion in line with FCA rules.
If you’re stuck on choosing a ‘yes’ or ‘no’ option, you can refer back to the relevant sections in this guide, which can help you with any changes.
Checklist
- Is all information explained or presented in a logical manner?
- Is it written in plain and intelligible language? Is key information prominently presented and easy to identify?
- Is the information provided relevant and of an appropriate level of detail?
Yes – no changes are required
No – make changes to the promotion
Unsure?
Yes – your promotion must include a representative APR
No – you don’t need any additional information
Unsure?
Yes – Your promotion must include a full representative example
No – a representative example is not required
Unsure?
Yes – Click here for a recap on other finance examples >
No – you don’t need any additional information
Yes – no changes are required.
No – make changes to the promotion to ensure these elements are at least as prominent as those triggering the requirement for it to be included.
Unsure?
Yes – no changes are required
No – make changes to the promotion to ensure these elements are at least as prominent as those triggering the requirement for it to be included.
Unsure?
Yes – no changes are required
No – make changes to the promotion
Unsure?
FCA Helpful links
CONC – Chapter 3
This guidance will cover the requirements in CONC, in particular Chapter 3, which lays out the rules for financial promotions.
FCA – Power to Ban
In 2015 the FCA released a statement confirming their legal power to ban any financial promotions they deem unclear, unfair or misleading:
FCA – Finalised Guidance
In 2015 the FCA published a finalised guidance on social media and customer communications:
FCA – Dear CEOs
In Jan 2019 the FCA penned an open letter to CEOs of FCA-regulated firms, reminding them of their responsibilities relating to the use of financial promotions:
FCA – PS20/8
In July 2020 the FCA published their final rules on discretionary commission models and commission disclosure, which came into effect on 28th January 2021.
FCA – Case Studies
In 2021 the FCA published a case study on a car finance hire purchase promotion, which includes examples of good and bad practice when advertising on social media and websites.
FCA – Warning to Businesses
In 2022 the FCA issued a ‘Dear CEO’ letter to almost 28,000 consumer credit firms warning firms to ensure their advertising is clear, fair and not misleading.
Consumer Duty
As of 31 July 2023, firms must adhere to the Consumer Duty for new and existing products or services that are open to sale or renewal.