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Advertising products and services in an increasingly crowded and competitive market is a challenge for many members. Firms are having to take a multi-channel approach to reach customers at the right time, in the right place with the right message.
However, the dangers of uncontrolled use of communication channels such as social media have become apparent in recent years resulting in huge lawsuits, and financial and reputational damage for inappropriate use.
With an increasing amount of activity it is important that firms comply with both the Financial Conduct Authority (FCA) rules for the different channels in which they advertise (which could involve up to five different sets of conduct of business rules), and comply with the Advertising Standards Authority (ASA) advice for ?clear, fair and not misleading? content.
For the unconvinced, the FCA issued two Dear CEO letters on financial promotions in 2019, reminding readers of its powers and is itself facing an enquiry over how it regulates this area.
Firms must understand and be able to use to their advantage:
They also need to understand fully:
By the end of this workshop you will be able to:
The Learning Experience:
The learning experience will be highly interactive with plenty of fruitful interaction both on the subject area and amongst participants.
We will use a mixture of real-live examples of promotions, including websites, social media usage and the regulator's FG 15/4 digital media guidance case studies. There will be breakout group learning sessions, particularly to deal with areas specific to a particular financial services area. There will also be more formal but interactive learning to ensure the coverage of key points.
Who should attend:
Workshop agenda:
Introduction Training objectives and programme
1. The real world
2. Financial promotions and client communications regulation
3. The FCA Rulebook
4. Particular digital media areas
5. Basic systems and controls including records
Other workshops:
In 2021 this workshop will repeat in: March and October
Lawyer, Arbitrator and Financial Services Compliance Expert
Adam Samuel has been trying to keep the financial services industry out-of-trouble since 1996. In the early 2000s, he extricated a firm from the grips...
Adam Samuel has been trying to keep the financial services industry out-of-trouble since 1996. In the early 2000s, he extricated a firm from the grips of the FSA after it had accused its client of breaking the financial promotions rules and arranging investments through its website. In February 2012, Adam did one of the first digital media compliance lectures in the UK. Adam fixes companies? problems, trains, writes and teaches students about financial promotions. He authored the only book on UK financial services complaints (2nd ed out in 2017). He holds the exam qualifications not only for a compliance person (CISI Compliance Diploma) and a lawyer but also has AFPC, MAQ and Cert ER qualifications so that he can comment on the work of financial and mortgage advisers from a position of reasonable strengths. To find out more about Adam, see adamsamuel.com.
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