The Financial Conduct Authority (‘FCA’) published FG15/4: Social media and customer communications (the ‘Guidance’), which provides guidance on financial promotions in social media and customer communications. The Guidance sets out the FCA’s rules on financial promotions on social media, and provides examples of compliant and non-compliant communications to help organisations conform.
A financial promotion could be any form of communication that includes an inducement or invitation to engage in financial activities. The Guidance stresses the fundamental requirement that all communications must be clear, fair and not misleading, both when first published and also if they are then retweeted or shared on Facebook. Furthermore, non-intended recipients must not be misled or confused by any such communication they receive.