2nd December 2010

Social media promotion US style


brain In the summer the FSA said that some new media promotions it reviewed lacked risk warnings and others went beyond the definition of "image advertising" or did not comply with financial promotion rules. The FSA said "image advertisements" should consist only the "name of the firm, a logo or other image associated with the firm, a contact point and a reference to the types of regulated activities provided by the firm or to its fees or commissions".

Any communication that goes beyond that definition must comply with the financial promotion rules.

The FSA document went on to say: "Where our rules apply, they generally apply in a way that is media-neutral, and they focus on the content of the financial promotion rather than the medium used to communicate it. Therefore, applying the rules to financial promotions made using new media is no different to financial promotions made using any other medium."

Well, this paper gives an interesting view on tips and tricks from connected advisers in the US, courtesy of Horsemouth.com

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