Please note we work with regulated firms to help them approve their financial promotions. We cannot approve a financial promotion for an unregulated firm though we can provide advice and assistance around the application of the rules.
What matters are the outputs. In other words; Are your financial promotions 'clear, fair, balanced and not misleading?' Do they comply with the rules or has something been missed?
- What about your systems and controls?
- Do they cover all customer or intermediary facing material?
- Do you have a Conduct Risk strategy that drives the objectives of your financial promotions procedures?
- What about training and competence?
- Is your T&C scheme for approvers (from draft to final document) robust and could it withstand FCA scrutiny?
- Do you produce management information and in what format e.g. linking to TCF?
- Can you demonstrate senior management are able to understand and ultimately control what is produced?
- Do you keep your financial promotions including websites up to date and how do you make sure this happens in practice?
These are just some of the questions that need to be asked and then tested to make sure your firm keeps out of the news. Fines but more particularly remedial action can be very expensive and result in significant reputational damage.
Get it right first time and draw on the many years experience offered by AJS Consultancy Services compliance consultants to treat your customers fairly and help give you peace of mind. With the FCA checking adverts on a daily basis and including internet promotions it won’t be long before your firm comes under scrutiny.
For an independent review of your systems and controls including a financial promotions approval service please contact us via our Contact Page.