Financial promotions: back to the basics

In some areas there are far too many rules and in others not enough to guide businesses dealing with day-to-day financial promotions issues, who want to do the right thing. Neglect of appropriate enforcement and clear drafting has created an unfair market in which firms with a higher compliance risk-appetite have been cheating at the expense of everyone else, writes Adam Samuel.

Adam SamuelBA LLM DipPFS MCISI FCIArb Certs CII (MP&ER) Barrister and Attorney may be contacted atadamsamuel@aol.com.You can purchase Adam's latest book 'Compliance - a Short Book' at www.amazon.co.uk/Compliance-Short-Book-Adam-Samuel-ebook/dp/B0CTRYBN1J/. For links to where you can buy the second edition of 'Consumer Financial Services Complaints and Compensation', seewww.adamsamuel.com/writing.

A regulator, weighed down by astonishing levels of fraud percolating post-pandemic, is struggling to enforce the existing rules on financial promotions and has made little or no effort lately to improve them.