Consumers Behind Half Of Financial Ad Complaints To FCA

Law360, London (April 7, 2021, 2:34 PM BST) -- Retail consumers submitted almost half the complaints about financial promotions received by the Financial Conduct Authority in the first three months of the year, according to new data from the regulator.

The City watchdog said on Tuesday that it looked into 441 promotions in the first quarter of 2021, which included adverts that were identified from complaints it received as well as from its own checks on whether such promotions complied with its rules.

The regulator, which expects promotions to meet the legal requirements to be clear, fair and not misleading, said almost half, 45%, of reports came from consumers. More than...

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