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FCA warned today the 26th March 24, that using social media promotions involves no less compliance than standard page adverts, and if not signed off by an authorised person, risks prosecution for a criminal offence.
‘Promotions aren’t just about the likes, they’re about the law. We will take action against those touting financial products illegally.’
Under Consumer Duty, promotions must be communicated in a way that allows consumers to “make effective decisions”
So before promoting your advert – get it signed off by compliance. BAT is a system to allow this to happen. Upload your promotion to BAT and get the approval processed and registered online and auditable.
