Financial promotions gateway

FCA looks to negate harms from financial promotions

by Abi Reilly

This year, consumer protection has been front of mind for firms, as they seek to embed the Consumer Duty into their processes. However, the Financial Conduct Authority (FCA) is also using other means to improve outcomes, including through its new financial promotions gateway. As of November 2023, firms must apply for permission to approve financial promotions for unauthorised persons through the new gateway. The regulator wants to be sure that firms understand the products for which they are approving promotions, and the potential harm they could cause to consumers.