London, United Kingdom
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










UK Regulator FCA Requires Firms to Have Right Expertise to Check & Approve Financial Promotions & Advertisements, Strengthen Rules on Misleading Advertisements & High-Risk Investments

7th December 2022 | Hong Kong

The UK regulator Financial Conduct Authority (FCA) has outlined new requirements for firms to have the right expertise to check & approve financial promotions & advertisements, strengthening the rules on misleading advertisements & high-risk Investments.  UK FCA: “Changes being introduced by Parliament will require authorised firms to undergo new screening checks before they are allowed to approve financial promotions, giving the FCA greater oversight to stop harm before it occurs … … Firms will also be required to regularly report back to the FCA on financial promotions they have approved, helping the FCA crack down on rogue adverts.”  UK FCA Executive Director of Markets Sarah Pritchard: “Social media and online advertising means that consumers are taking less time between seeing a promotion and making a financial decision. It is, therefore, essential that they are equipped with the right information at the right time so that they can make good financial decisions. This is especially important as we face the rising cost of living … … These proposals will ensure those approving ads have the appropriate expertise and are held accountable for the promotions they sign off.”  In 2022 (Jan to Oct), the UK FCA had remove or amended over 5,000 financial promotions from authorised firms (2021: 564 cases).  These new requirements are subject to legislation, with the consultation is open until 7th February 2023.  See announcement below:

“ UK Regulator FCA Requires Firms to Have Right Expertise to Check & Approve Financial Promotions & Advertisements, Strengthen Rules on Misleading Advertisements & High-Risk Investments “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
6th March Hong Kong | 13th March Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
10th April Hong Kong | 24th April Singapore

Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





These changes are subject to legislation. The Financial Services and Markets Bill proposes to amend the Financial Services and Markets Act 2000 (FSMA) to create a new regulatory gateway for authorised firms approving financial promotions.  The consultation is open until 7 February 2023.

 

Announcement – FCA outlines stronger rules to protect consumers from rogue financial promotions

London, United Kingdom

FCA outlines stronger rules to protect consumers from rogue financial promotions

6th Dec 2022 – The FCA has today outlined new checks for those firms which want to approve financial promotions. The new measures will require firms to demonstrate they have the right expertise for the promotions they wish to approve.

Under current legislation, any FCA authorised firm is allowed to approve financial promotions on behalf of other firms who are not authorised by the regulator. Changes being introduced by Parliament will require authorised firms to undergo new screening checks before they are allowed to approve financial promotions, giving the FCA greater oversight to stop harm before it occurs.

Firms will also be required to regularly report back to the FCA on financial promotions they have approved, helping the FCA crack down on rogue adverts.

The proposed reforms will ensure the FCA can act quickly to put a stop to harmful financial promotions communicated by unauthorised firms, including in areas such as high-risk investments and Buy Now Pay Later.

Sarah Pritchard, Executive Director, Markets said:

‘Social media and online advertising means that consumers are taking less time between seeing a promotion and making a financial decision. It is, therefore, essential that they are equipped with the right information at the right time so that they can make good financial decisions. This is especially important as we face the rising cost of living.

‘These proposals will ensure those approving ads have the appropriate expertise and are held accountable for the promotions they sign off.’

The publication today builds on the FCA’s recent work on strengthening rules around advertising for high-risk investments and being more assertive in removing misleading adverts, with the FCA removing or amending over 5,000 financial promotions from authorised firms between January and October this year, compared to 564 in 2021.

The FCA is committed to setting and testing higher standards across financial services to give consumers the confidence to make good financial decisions based on accurate and relevant information.

Addressing concerns over the ease and speed with which people can make high-risk investments is a key element of the FCA’s Consumer Investment Strategy, which aims to give consumers the confidence to invest and reduce the number of people who are investing in high-risk products that are not aligned to their needs.

  1. CP22/27: Introducing a gateway for firms who approve financial promotions.
  2. These changes are subject to legislation. The Financial Services and Markets Bill proposes to amend the Financial Services and Markets Act 2000 (FSMA) to create a new regulatory gateway for authorised firms approving financial promotions.
  3. The consultation is open until 7 February 2023.
  4. FCA clamps down on marketing of high-risk investments to consumers.
  5. FCA ramps up intervention on rogue financial promotions.
  6. The Treasury’s consultation response on a Regulatory Framework for Approval of Financial Promotions.
  7. Find out more information about the FCA.



Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleSingapore MAS Issues 15 Years Ban on Former UOB & OCBC Advisor for $1.18 Million Fraud, 7 Years Jail for Cheating 7 Clients with Fake Fixed Deposits & Investment Products to Transfer Money to Victims, Himself, Brother & Ex-Girlfriend
    Next articleUK Regulator FCA Banned & Fined 3 Mizuho Traders $725,000 for Market Manipulation, Placed Large Orders on Italian Government Bond Futures to Send False Signals to Market & Small Orders on Opposite Side
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia