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ARTICLE · 11 AUGUST 2011

Corporate Insurance Regulatory Update - August 2011

Clyde & Co
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The FSA is consulting on proposed guidance on the concept of prominence in financial promotions. This concept is important as prominence goes to ensuring that a financial promotion is clear, fair and not misleading and as such it is engrained in conduct of business requirements relating to financial promotions.

United KingdomInsurance
Geraldine Quirk
Geraldine Quirk
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FSA POLICY DOCUMENTS

GC11/15: Proposed guidance on Financial Promotions – Prominence

8 July 2011

The FSA is consulting on proposed guidance on the concept of prominence in financial promotions. This concept is important as prominence goes to ensuring that a financial promotion is clear, fair and not misleading and as such it is engrained in conduct of business requirements relating to financial promotions.

The FSA is proposing this guidance in order to clarify the interpretation of prominence in a response to the inconsistent standards that the FSA has identified whilst monitoring financial promotions by firms. The guidance concerns COBS 4, MCOB 3, ICOBS 2 and BCOBS 2 and will be most relevant to persons approving financial promotions.

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